Senior living market expected to grow over 300% by 2030: Ankur Gupta, JMD, Ashiana Housing

Senior living apartments

India’s senior population, already the second largest in the world, is expanding rapidly. As of 2024, there are 156.7 million people above 60, and this number is projected to more than double to 346 million by 2050, according to the JLL-ASLI Report.

At the same time, the outlook of retirees is shifting. Today’s seniors are financially independent, health-conscious, and keen to live life on their own terms. Recognising this trend, Ashiana Housing has earmarked Rs 425 crore for FY2025–26, with a large share directed towards growing its senior living portfolio in cities such as Mumbai and Bengaluru.

In an interview with Moneycontrol, Ankur Gupta, Joint Managing Director of Ashiana Housing, shares insights on the rising demand for senior living projects and how these communities are redefining retirement. He believes the Indian senior living market, currently valued at USD 2–3 billion, could expand over 300% to USD 7.7 billion by 2030.

What key trends demographic, social, or economic are shaping the future of senior living in India?

Two big things stand out. One, families are no longer staying under the same roof across generations. As per the LASI data, around 26.7% of urban seniors now live either alone or without their children or spouse. That number is only going to increase. And two, women live longer. That’s important because more and more single elderly women are looking for secure, community-based living options that do not leave them isolated.

Add to that the influence of NRIs—many of whom want a safe, well-managed place for their parents back home—and we are looking at a very real, very fast-growing demand.

What’s the average price of buying a home in an Ashiana senior living project?

The average price varies based on location and unit size, but typically, homes in our senior living communities are priced between Rs 55 lakhs to Rs 2.25 crore. We aim to keep them premium enough to offer a high quality of life.

Moreover, residents typically pay a monthly service charge which covers maintenance, housekeeping, basic healthcare services, emergency response systems, and recreational activities. This usually ranges from maximum Rs 7,693 per month in Ashiana Nirmay in Bhiwadi to Rs 23,220 per month in Ashiana Swarang in Chennai, depending on the project and services available.

Do these ongoing costs typically increase every year? If so, by how much?

Yes, they do increase annually, mostly in line with inflation and the rising cost of manpower. But we keep it transparent, and there are no hidden surprises. It is something we talk about clearly with prospective residents and their families so they can budget accordingly.

Profitability can be challenging in service-led models. How do you ensure financial viability while delivering essential senior services like healthcare and community support?

You're right—service-led models require a careful balance. Our focus is on long-term sustainability, not short-term profits. We ensure viability through scale, efficient operations, and a strong in-house team dedicated to senior care. Our integrated model—combining real estate and post-possession services—allows us to optimize both experiences and costs.

How do you keep residents engaged socially, physically, and emotionally over the long term?

We create a lifestyle ecosystem. Daily activity calendars, fitness and yoga sessions, cultural events, resident clubs, outings, and volunteering opportunities keep seniors engaged and emotionally fulfilled. Our trained teams work closely with residents to understand their interests and personalize engagement.

What are the biggest cultural or psychological barriers Indian families face when considering senior living and how do you overcome them?

The biggest barrier is the misconception that senior living is the same as an old-age home. Many families feel guilty or unsure. However, when they visit our communities and see the quality of life, companionship, and dignity their parents enjoy, the perception changes. Education, awareness, and word-of-mouth from happy residents are helping us bridge this gap.

Ashiana has been in the senior living space for years. What sets you apart from newer players entering the market?

We’ve been in the senior living space for over 22 years and have been recognized 9 times in a row as the No. 1 Senior Living Brand in India by Track2Realty. What sets us apart is our deep-rooted experience, consistency, and unwavering commitment to enhancing the lives of seniors.

At Ashiana, we go beyond just designing and constructing homes—we build vibrant, self-sustained ecosystems where seniors can thrive in their retirement years. We don’t hand over the keys and step away; we stay involved through 24x7 services, long-term project management, and continuous community engagement.

Our approach includes after-sales care, active lifestyle programming, and a holistic environment tailored for senior well-being. This long-term, service-led model has earned us the trust of thousands of families across the country and continues to differentiate us from newer entrants in the segment.

Senior citizen facilities are generally located in the outskirts of the city. What’s your location strategy for new senior living projects? How do you decide where to expand next?

Our strategy is to stay connected yet peaceful. We look for well-connected suburban locations that offer a serene lifestyle but are not too far from city infrastructure—especially hospitals, markets, and transportation. Expansion decisions are based on market demand, demographic data, and existing family settlements. Regions like NCR, Chennai, Bangalore, and Mumbai-Pune remain key markets for us.

How does designing a community for seniors differ from building for younger homebuyers in terms of layout, materials, and community planning?

Senior living design is far more nuanced. From anti-skid tiles, grab bars, emergency response systems, wider doorways, and zero-step entries to easy-to-navigate layouts and social spaces everything is tailored to comfort and safety. We also focus on holistic community planning placing medical rooms, activity centers, and dining facilities within easy access to every resident.

Beyond housing, our services include 24x7 emergency medical response, wellness programs, daily activities, hobby classes, group dining, physiotherapy, security, and housekeeping. We also celebrate festivals and host events like Jashn to encourage community bonding and active living.