As senior living expands, developers and policymakers strive to keep up

Once limited to the southern states, India’s senior living market is rapidly expanding nationwide, driven by evolving societal norms and the increasing nuclearisation of families. Seniors are no longer waiting for medical needs to consider a move to specialised housing—many in their early 60s are opting for independent units to enhance their quality of life. Project developers, too, are targeting growth in temple towns like Varanasi, where more seniors are choosing to spend their later years in a culturally and spiritually rich environment.

Despite its projected fivefold growth over the next six years, the market will remain undersupplied, with penetration expected to reach just 3 per cent by 2030—still far behind the 10 per cent in some developed countries. Unlike markets like the US, where leasing dominates, Indian seniors overwhelmingly prefer to purchase their homes.