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Business Today

By E. Jayashree Kurup · 1 October 2026

BT Big Story: Why India’s affluent seniors are the next big real estate bet

As more seniors seek lifestyle-led living built around independence, community and care, property developers are betting on a market that could cross ₹1 lakh crore by 2030.

The phrase ‘senior housing’ has come a long way from old-age homes: dilapidated buildings, minimal services, poor facilities and basic healthcare to spell premium lifestyle communities.

As India’s elderly population grows and more affluent seniors enter the market, senior housing is evolving into ‘senior living’—communities that combine independence, social life, wellness, healthcare and assisted living, albeit at a price.

People from a variety of professional backgrounds are moving into senior homes, with industry estimates pointing to 80-85% occupancy at well-established communities.

“We have people who come from professional backgrounds, government and PSUs, the armed forces, as well as doctors and professors. There are also several residents from business backgrounds,” says Ankur Gupta, Joint Managing Director of Ashiana Housing. “Having lived a rich and fulfilling career, they opt for communities that give them the freedom of choosing activities they never got time to pursue in their working years.”

“People don’t necessarily want somebody to ‘look after’ them; they want people to have dinner with, travel with, exercise with and pursue interests with,” says Adarsh Narahari, Founder & Managing Director of Primus Senior Living and Marzi By Primus.

And it’s not only the seniors themselves who are looking for appropriate housing for the next stage of their lives.

“We see significant interest from people in their 40s and 50s exploring senior living for their parents,” says Dhruv Badruka, Co-Founder of Amaya Senior Living, a fledgling senior living developer and operator in Hyderabad. “Over time, we expect senior living to increasingly become a planned lifestyle decision rather than a need-based decision.”

These trends are creating a big market for developers and senior living operators. According to the India Ageing Report 2023, people aged 60 years and more comprised 10% of the country’s population in 2023. This is expected to rise to 14.9% in 2036 and 20% in 2050.

The Longitudinal Ageing Study in India, 2021, estimates that about 349 million seniors will need housing in India by 2050, which is both a challenge and an opportunity, given the economics remain difficult and the demand-supply gap significant.

Colliers Research estimates the current market for senior housing at about Rs 30,000 crore, with overall demand at 2–2.2 million units against organised supply of just about 25,000 units. By 2030, the market value could exceed Rs 1 lakh crore, with demand projected to reach 2.8–3 million units.

India also remains significantly underpenetrated at 1.3% of the addressable market, compared to 6–7% in the US and 14–15% in New Zealand. “This creates both a major supply gap and a long runway for organised operators,” says G. Raja Gopal, chairman of the Association of Senior Living in India (ASLI), which represents over 85 organisations including senior and assisted living operators, healthcare and home-care providers, technology, wellness and other allied organisations.

Institutional interest and investments have been growing to tap the surging demand. Colliers estimates that more than Rs 13,000 crore of investments have been announced since 2025, which could support the addition of nearly 75,000 organised senior living units over the next three to four years.