India’s Senior Living Housing Sector To Boom Over 300% By 2030, Says JLL-ASLI Report

India’s ‘Silver Economy’ is growing. By 2025, over 346 million Indians will be aged 60 and above. This will constitute nearly 20 per cent of the population, a seismic shift that places India among nations with the largest elderly populations globally.

This shift is not just about numbers; it’s also a time to reimagine how society supports its seniors by offering them dignity, care, and a vibrant quality of life. Central to this change is the country’s senior living housing sector which is poised for explosive growth in the years to come. This sector is projected to expand by over 300 per cent by 2030, according to a joint report by JLL India and the Association of Senior Living India (ASLI).

A New Era Of Senior Living In India

Senior living is no longer confined to the stereotypes of ‘old-age homes’ run by non-government organisations (NGOs). The sector is now moving towards a multi-faceted ecosystem that includes ‘independent living’ and ‘assisted living’ with specialised care facilities for the elderly.

From luxurious retirement communities offering golf courses and spas to memory care units tailored for cognitive challenges, senior living today prioritises autonomy, community, and ease of living for the elderly.

With over 20,000 senior living units already in operation, the industry’s potential remains highly untapped. The JLL-ASLI report titled Elevating The Golden Years, highlights the staggering potential demand for 2.3 million senior living units by 2030. This figure underscores the sector’s immense opportunity for developers and investors looking to innovate and scale solutions for the elderly.

“This is about more than just housing,” says Ankur Gupta, co-founder of ASLI. “This shift is about creating a robust, compassionate ecosystem that adapts to the evolving needs of our seniors to foster independence and community, thus ensuring they age gracefully,” he adds.

Changing Realities Of India’s Elderly

According to the report, the changing societal and economic dynamics of the elderly in India are fuelling a shift in the senior living sector in India. The Longitudinal Ageing Study of India (LASI) reveals that 26.7 per cent of urban elderly live either alone, with only their spouse, or with people other than their spouses or children.

This trend is significant given the rising number of single seniors, particularly women, who have a longer life expectancy, and a shift in societal attitudes toward more independent living arrangements. According to the report, about 85 per cent of the existing inventory is focused on independent living facilities.

Samantak Das, chief economist at JLL said, “India’s elderly are no longer passive recipients of care, rather they are active participants shaping their retirement experiences,” adding that this shift is a testament to their evolving aspirations and the industry’s response to them.

A Market Primed For Growth!

As awareness and acceptance of senior living solutions grows, this sector which is currently at just 1.3 per cent market penetration presents an unprecedented opportunity for developers and investors alike to build quality-driven solutions.

Investors and developers are also taking note of this change. Large-scale projects that integrate healthcare, wellness, and social engagement are reshaping this landscape. “Our goal is to ensure seniors live not just longer but better. By combining with holistic care we can enrich their golden years,” says Rajit Mehta, chairman of ASLI.

The Gaps In Senior Care Sector

Despite such promises, the senior living sector still has its unique challenges to overcome. For instance, India has only 0.7 hospital beds per 1,000 elderly which is a glaring gap in geriatric healthcare. Alarmingly, less than 5 per cent of seniors have access to institutional care, and over half do not have access to social security. Bridging these gaps requires coordinated efforts among policymakers, developers, and healthcare providers.

These challenges are also an opportunity for the sector, as addressing these timely can position India as a global leader in senior living solutions, the report says. The rise of continuing care retirement communities (CCRCs) where seniors can transition seamlessly between levels of care, exemplifies the innovative potential of this market, the report says.

Says Anantharam Varayur Co founder of Manasum Homes Senior Living, "With the over-60 population expected to reach 346 million by 2050, the projected demand for 2.3 million senior living units by 2030 is a clear indicator of changing priorities in housing. The current reality—where only 5 per cent of seniors have access to institutional care and geriatric healthcare infrastructure remains limited—points towards the urgency of inclusive and sustainable initiative."