15,000 senior living homes by 2030: Should you invest in retirement realty?

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India’s senior living market is quietly transforming into one of the country’s most attractive real estate  opportunities. With over 10 crore Indians aged 60+ in 2023, projected to triple to 30 crore by 2050, the demand for specialized housing for seniors is set to explode, according to a JLL report.

 

According to a joint report by the Association of Senior Living India (ASLI) and JLL India, nearly 15,000 senior living homes are likely to come up by 2030 at an estimated investment of ₹26,000 crore, if launches continue at the current pace in the organised market. At an accelerated growth trajectory, supply could touch 25,500 units (₹39,000 crore), while with policy support, it might rise further to 34,600 units (₹50,100 crore).  Senior Living: Key stats 

Source: JLL Research and Analysis, UNFPA’s State of World Population 2023

 

   

Demand Surge: Seniors with Spending Power

 

India’s senior population (60+) is projected to grow from 162 million in 2025 to 191 million by 2030, and then double to 346 million by 2050. More importantly, the addressable demand—urban, financially independent seniors—is expected to rise from 1.7 million units today to 2.3 million units by 2030.

 

“India’s Silver Generation has more money than the previous one and they are investing it in their golden years,” said Rajit Mehta, Chairman of ASLI, adding that innovative financial and insurance products can unlock this economic opportunity.

 

What Makes Senior Living an Investment Class

 

Premium Pricing: Properties cost 10–15% more than regular housing, typically ₹4,000–6,000 per sq. ft., with luxury developments exceeding ₹8,000 per sq. ft.

 

Models of Ownership: Buyers can choose between outright sale (best for legacy/asset creation), lease deposits (lower upfront cost), or rentals (short-term or flexible stays).

 

Returns: Outright purchase offers capital appreciation, while rentals can provide steady income in cities like Pune, Bengaluru, Chennai, and Coimbatore, where demand is highest.

 

NRI Interest: Non-resident Indians already contribute 5–10% of sales, looking to secure homes for parents or as retirement assets.  Senior living properties in India command an  average premium of 10-15% over regular  residential pricing      

Currently, almost half of the senior living projects in India are in the range of Rs 4,000 to Rs 6,000 per sq. ft.

Why Families Should Pay Attention

 

For families, this is no longer only a real estate decision—it’s about retirement planning, healthcare preparedness, and legacy choices.

 

Many senior living projects offer integrated healthcare, emergency care, and wellness services, which could reduce future medical costs.

 

Restoration benefits (continuing care for same illnesses), community living, and 24/7 security also translate into peace of mind, both for seniors and their children.

 

With rising life expectancy and nuclear families, the financial case for investing in such homes is strengthening.   Delhi-NCR, Chandigarh and  Dehradun have emerged  as top destinations to  settle / retire by Seniors  in North India. Following are the locations of projects of prominent players in Senior living sector 

Overall, the top 10 operators have a combined market share of more than 50%.

 

• Southern cities dominate India’s senior living market, with Bengaluru, Chennai, Puducherry, and Hyderabad emerging as the most preferred destinations.
• Developers are increasingly launching integrated townships, dedicating specific units or towers to senior living.
• Pune has become the top destination for senior living projects in West India.
• Operators are showing growing interest in entering the Mumbai Metropolitan Region (MMR) to tap into rising demand from the Mumbai market.
• Columbia Pacific Communities, Vedaanta,  Ashiana, Paranjape (Athashri), Primus &  Antara, are the prominent operators with  multiple projects spread across geographies

 

The rise of senior living market in India 

Mature markets such as USA and Australia, have more than 6% penetration rate for senior population residing in formal senior living, assisted living , nursing care communities and CCRCs. Source: JLL