Real estate developers and investors would deploy around Rs 13,000 crore for senior living projects in the next 3-4 years, with the Indian senior living market expected to grow 4x to Rs one lakh by 2030, a Colliers India report said. The demand for senior housing is set to reach 30 lakh units, driven by evolving demographic shifts.
Around 30-40% of these new project launches are likely to be in Tier II/III cities and spiritual hubs. The organised supply could increase from the present 25,000 units to one lakh units by 2030. According to Colliers, India’s senior living market is currently standing at around Rs 30,00 crore, almost 70% higher than the 2024 level. The penetration rate in the segment is expected to rise from above 1% to 4% in the next 3-4 years, Colliers said.
“India’s senior living market is entering a period of accelerated growth, driven by strong demographic shifts and evolving socio-economic dynamics. With a rapidly expanding elderly population and rising demand for professionally managed senior housing and care solutions, the market presents significant long-term growth opportunities, Badal Yagnik, Chief Executive Officer and Managing Director, Colliers India.
Increasing policy support, growing investor participation and collaboration among leading developers and healthcare operators are likely to redefine senior living offerings across the country,” Yagnik said.
According to Colliers, the segment is seeing an increase in strategic partnerships with healthcare service providers. Institutional investors are forming joint-venture platforms with leading real estate developers and planning to expand their senior-living footprint across key markets.
Take, for instance, Shremoha, a premium senior living platform, announced senior living development partnerships in Pune and Gurugram. They have tied up with Tru Realty for their project Kekarav in Pune, and with KREEVA in Gurugram. Shremoha is a partnership between Shrem Group and Emoha, a part of Age Care Labs.
Saumyajit Roy, co-founder and CEO of Emoha Elder Care and co-founder of Shremoha, said that the future of senior living is not about care alone but about creating places where people can continue to live with purpose, independence and meaningful human connections.
Sujay Kalele, managing director, TRU Realty, said they will deliver 250 residences at the Kekarav Township in Pune. KREEVA founder Gautam Kanodia said they were partnering with Shremoha in their upcoming multigenerational project in Gurugram.
Antara Senior Care, a subsidiary of Max India and one of the few listed players in the senior living and care segment, is planning a calibrated expansion across senior living homes and care homes. It will be strengthening its presence in NCR while selectively expanding into South India.
Antara will be developing 1.5 million sq. ft. annually and creating 8-10 new senior-living communities over the next five years. It is also increasing the capacity of its Care Homes to 1,200 beds over the next two to three years.
Lloyds Realty, the real estate arm of the Lloyds Group, is developing a 143-acre integrated township in Khopoli with a proposed mix of residential formats, including senior living and healthcare. Real estate company Pioneer Urban is also developing a 164-home senior living project, Advait, in Gurugram across 2.6 acres.
According to Colliers, the regulatory environment for senior living was being strengthened to bring greater standardisation, transparency, operational efficiency and accountability. Haryana and Maharashtra have taken proactive steps for establishing dedicated guidelines and policies for senior living projects.