India’s retirement map is changing: 15 cities to drive senior living boom | Personal Finance

India’s senior living market is expanding beyond established metropolitan centres, with Tier-II cities and spiritual destinations emerging as potential retirement hubs, according to a report by proptech firm Square Yards.

India’s senior population is projected to reach around 230 million by 2036, accounting for nearly 15% of the country’s population, the report said. The trend, alongside the growing prevalence of nuclear families, migration and changing household structures, is reshaping demand for organised senior housing that combines independent living with healthcare, safety and community facilities.

Spiritual destinations, including Ayodhya, Varanasi, Haridwar and Tirupati, are also emerging as retirement and second-home options. These locations appeal to older homebuyers seeking cultural familiarity and community ties, while Tier-II cities offer relatively affordable housing, improving healthcare infrastructure and a slower pace of life, the report said.

However, the expansion of senior housing into newer markets will depend on the availability of reliable healthcare partnerships, emergency response systems, experienced operators and transparent service models. These factors will be critical to building confidence among senior residents and their families, it added.

Senior living shifts towards healthcare and wellness

The changing geography of senior housing reflects a broader shift in retirement preferences, with the sector increasingly bringing together residential real estate, healthcare, hospitality and wellness.

Developments offering only age-friendly apartments may struggle to meet the expectations of senior homebuyers, who are increasingly looking for preventive healthcare, mobility support, social engagement and services that allow them to maintain their independence.

“India is observing the emergence of a multi-billion-dollar asset class driven by a generation of seniors, seeking not only assistance but also autonomy, specialised wellness and a high quality of life,” said Tanuj Shori, founder and chief executive officer of Square Yards.

Wellness amenities may differentiate projects

India’s senior living market is projected to reach $11.43 billion by 2031, according to the report. Wellness-focused amenities could become an important differentiator as developers compete to attract older homebuyers.

Projects incorporating preventive healthcare, physiotherapy, fitness programmes, nutritious dining, mental wellness services and community engagement could build greater trust among residents and their families, the report said.

“Senior living is increasingly about value, not just location. Many people are willing to move to smaller centres for wellness-led communities with rich amenities, better care and a more comfortable lifestyle that fits their budget,” said Sunita Mishra, vice-president, Research and Insights, Square Yards.