New Delhi: India's senior living segment will need investments of $4.8-$8.4 billion (about ₹41,000-₹72,000 crore) between 2025 and 2030, according to a report by Savills India, as a rapidly ageing population urgently needs purpose-built homes. The growth in the ageing population, projected to reach 21% of the total population by 2050, is primarily driven by advancements in healthcare, improved living conditions and declining fertility rates.
According to Savills India, global best practices are shaping India's senior living framework, with developers beginning to draw on their expertise, with early signs of success in joint ventures and knowledge transfers with global players.
As per the report, non-metro cities are emerging as growth hotspots, with about 34% of the under-construction projects based in cities such as Vadodara, Coimbatore and Goa.
"The senior living segment in India, currently valued at approximately $1-$2 billion, is poised for significant expansion by 2030. Approximately 1,000 acres of land is required to develop senior living projects," the report said.
The proportion of senior individuals, aged 60 years and above, is expected to increase to 22% by 2050 from 12% in 2015.
As of 2024, Japan ranks at the forefront of the world's most aged societies, with nearly 36% of its population comprising senior citizens. Although India's senior population is increasing in absolute numbers, its share in the total population remains lower than in other major economies.
"With rising modernisation, senior living communities are steadily expanding across India. Moving decisively beyond conventional models of senior care, these new-age communities emphasise social engagement and personal autonomy," the report said.
Senior living in India includes independent living, assisted living, memory care facilities and continuing care retirement communities, each addressing different levels of healthcare and lifestyle support for the elderly.
"With India's elderly population projected to cross 347 million by 2050, the need for purpose-built senior living is not just a demographic response, it has become an infrastructure mandate for the country," said Arvind Nandan, managing director, research & consulting, Savills India. "Tier-2 cities like Coimbatore, Vadodara, and Goa are emerging as the real drivers of this shift. With over $8 billion in investment potential and a growing policy driven focus, senior living is set to become one of the most transformative real estate categories in next decade."
Business groups such as GMR, Prestige, Kanodia, JK Urbanscapes, Trehan Iris and Stonecraft have either entered or plan to enter the senior living segment to cater to the growing demand. Currently, there are very few developers that focus on the senior living segment in India.
According to Savills India, global best practices are shaping India's senior living framework, with developers beginning to draw on their expertise, with early signs of success in joint ventures and knowledge transfers with global players.
As per the report, non-metro cities are emerging as growth hotspots, with about 34% of the under-construction projects based in cities such as Vadodara, Coimbatore and Goa.
"The senior living segment in India, currently valued at approximately $1-$2 billion, is poised for significant expansion by 2030. Approximately 1,000 acres of land is required to develop senior living projects," the report said.
The proportion of senior individuals, aged 60 years and above, is expected to increase to 22% by 2050 from 12% in 2015.
As of 2024, Japan ranks at the forefront of the world's most aged societies, with nearly 36% of its population comprising senior citizens. Although India's senior population is increasing in absolute numbers, its share in the total population remains lower than in other major economies.
"With rising modernisation, senior living communities are steadily expanding across India. Moving decisively beyond conventional models of senior care, these new-age communities emphasise social engagement and personal autonomy," the report said.
Senior living in India includes independent living, assisted living, memory care facilities and continuing care retirement communities, each addressing different levels of healthcare and lifestyle support for the elderly.
"With India's elderly population projected to cross 347 million by 2050, the need for purpose-built senior living is not just a demographic response, it has become an infrastructure mandate for the country," said Arvind Nandan, managing director, research & consulting, Savills India. "Tier-2 cities like Coimbatore, Vadodara, and Goa are emerging as the real drivers of this shift. With over $8 billion in investment potential and a growing policy driven focus, senior living is set to become one of the most transformative real estate categories in next decade."
Business groups such as GMR, Prestige, Kanodia, JK Urbanscapes, Trehan Iris and Stonecraft have either entered or plan to enter the senior living segment to cater to the growing demand. Currently, there are very few developers that focus on the senior living segment in India.
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