India Senior Housing Market Size To Reach $3.23 Billion By 2030

India Senior Housing Market Growth & Trends

The India senior housing market size is anticipated to reach USD 3.23 billion by 2030, growing at a CAGR of 7.78% from 2024 to 2030, according to a new report by Grand View Research, Inc. Senior living facilities such as Continuing Care Retirement Communities (CCRCs) are gaining traction due to the increasing demand for senior living options. CCRCs offer a range of services and amenities, including round-the-clock care tailored to the health and wellness needs of residents as they age. These communities typically provide independent living, assisted living, skilled/nursing care, and continuing care services within one location. The demand for CCRCs is on the rise in India, driven by a growing senior population and the unique advantages these communities offer.

Senior living communities are housing arrangements that are tailored to the unique living requirements of older adults. These communities offer safe, healthy, and comfortable long-term care, with some specifically targeting individuals with dementia. Many communities provide medical care services, continuing education opportunities, fitness facilities, transportation assistance, housekeeping services, and other essential support to residents.

For seniors over the age of 55 who require more immersive interventions due to medical or age-related issues, senior housings like AntaraSeniorCare provide round-the-clock nursing support, daily doctor consults, vital monitoring, medication administration, emergency response protocol, nutritionally assisted meals, regular physical activity, physiotherapy, and counseling sessions.With India's demographic landscape rapidly changing due to the growing senior population, there is an increasing demand for senior living facilities.

Moreover, several companies are engaging in partnerships, mergers, acquisitions, and expansion strategies to enhance their market position. For instance, In May 2023, Emerald Haven Realty (TVS Emerald) and Columbia Pacific Communities joined forces to establish a collaborative endeavor, aiming to construct and manage a senior living residential project in Chennai. Situated on a substantial 2.7-acre plot in Thaiyur, the development intends to encompass 250 well-designed residences, featuring a combination of one- and two-bedroom homes.

 Request a free sample copy or view report summary: India Senior Housing Market Report

India Senior Housing Market Report Highlights

• Based on housing units, the 2Bhk segment accounted for the largest revenue share in 2023 and expected to witness fastest growth over the forecast period. The increasing popularity of 2BHK apartments among senior citizens in India's housing market is expected to have a substantial impact on the growth of the senior housing sector

• The 1Bhk segment is expected to witness a significant growth over the forecast period, owing to the cost of living is an important factor for many seniors, especially those on fixed incomes or retirement funds, as a result many seniors preferred 1Bhk over larger units such as 2Bhk or higher

• Southern region held the largest market share in 2023. This can be attributed to various factors such as higher percentage of senior housing projects in India are concentrated in southern cities such as Chennai, Bengaluru, Puducherry, Coimbatore, Hyderabad, and Mysore

• In March 2023, Primus announced its strategic growth initiative to penetrate the booming Mumbai market. As part of this expansion, Primus plans to introduce an additional 2,000 units to its portfolio of senior living residences

India Senior Housing Market Segmentation

Grand View Research has segmented the India senior housing market based on housing units, and country:

India Senior Housing Units Outlook (Revenue, USD Million, 2018 - 2030)

• 1Bhk

• 2Bhk

• 3Bhk

• Independent Villas

India Senior Housing Regional Outlook (Revenue, USD Million, 2018 - 2030)

• South Region

• West Region

• North Region

• East Region

• Northeast Region

• Central Region

List of Key Players in India Senior Housing Market

• Columbia Pacific Communities

• Vedaanta

• Ashiana Housing Ltd.

• Paranjape Schemes (Construction) Ltd.

• PRIMUS

• AntaraSeniorCare

• Advait Homes LLP

• Saket Group

• Prarambh Life

• Brigade Enterprises Ltd