Senior Living Boom: India's Silver Generation Drives Market Expansion
A report by ASLI and JLL India highlights the growth of senior living homes in India, projecting nearly 15,000 new units by 2030. The market is driven by the increasing senior population and investments in their well-being, with the sector poised to become a mainstream asset class by 2030.
- Country:
- India
Senior living homes are set to expand significantly in India by 2030, with nearly 15,000 new units likely to emerge at an estimated cost of Rs 26,000 crore, according to the Association of Senior Living India (ASLI) and JLL India's report. The growing elderly population and increased investments are fueling this growth.
The report reveals that the organised supply of senior homes has escalated from 7,147 units in 2014 to 22,157 units as of June this year. Projections indicate this supply could reach 25,500 units at Rs 39,000 crore with accelerated growth, and further climb to 34,600 units at Rs 50,100 crore with policy support.
Speakers at the report's release, including ASLI's Chairman Rajit Mehta, emphasised the shifting investment trends among seniors and the untapped economic potential in the sector. The senior care industry, growing at about 20% annually, is expected to hit USD 50 billion by 2030, becoming a mainstream asset class reflecting changing societal aspirations.
(With inputs from agencies.)
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