India’s senior living housing market is poised for exponential growth, with a projected increase of over 300% to $7.7 billion (₹64,500 crore) by 2030, according to a joint report by JLL and the Association of Senior Living India (ASLI). This unprecedented growth highlights the evolving landscape of senior care and real estate in the world’s second-most populous nation.
A growing senior population
India’s senior population, currently the second largest globally, is projected to more than double from 156.7 million in 2024 to 346 million by 2050. The target market for senior living facilities is expected to grow from 1.57 million households in 2024 to 2.27 million by 2030, signifying a burgeoning demand for specialised housing solutions.
Economic potential
Valued at ₹15,500 crore ($1.8 billion) today, the sector is anticipated to grow at a robust CAGR of 27%, reaching ₹64,500 crore ($7.7 billion) by 2030. Samantak Das, Chief Economist at JLL, emphasized the revolutionary shift in retirement living, stating, “This is about a new generation of seniors—independent, financially secure, globally aware, and socially active.”
Southern india leads the charge
With 60% of the national market share, Southern India has emerged as a hub for senior living. The region’s dominance reflects its focus on community-centric and wellness-driven housing solutions.
Rising independent living facilities
Independent living facilities dominate the sector, comprising 85% of the total inventory. This trend underscores the growing demand for autonomy among India’s senior citizens, who increasingly prioritize safety, comfort, and independence.
Institutional care gaps
Currently, only 5% of India’s elderly have access to institutional care, and over half lack social security. This presents a unique opportunity for developers and investors to cater to a rapidly expanding demographic with tailored solutions.
Innovative solutions for senior care
The Longitudinal Ageing Study of India (LASI) indicates that 26.7% of urban elderly live alone or with individuals other than their immediate family. This highlights the need for comprehensive and inclusive senior living options.
Rajit Mehta, Chairman of ASLI, emphasized, “Wellness and healthcare must integrate seamlessly with housing solutions that prioritize community support.”
Developer and investor interest
With market penetration at just 1.3%, the sector offers immense potential for quality-driven projects. Awareness and acceptance of senior living are rising, paving the way for sustainable development in this niche market.
