Senior citizen home hunt: Seeking house for aged parent? Below ₹70 lakh, healthcare bring Kochi, Nashik, Haridwar on top

Senior citizen home hunt: Seeking a house for aged parents to settle after retirement? Tier 2 cities and spiritual hubs such as Kochi, Nashik, Varanasi and Haridwar are gaining popularity due to average home prices below ₹70 lakh (multiple reports) and improving healthcare options.

According to a report by integrated real estate platform Square Yards, with India’s senior housing market estimated at $4.31 billion in 2026 and set to reach $11.43 billion by 2031, wellness and affordability are set to reshape senior living choices.

“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 & CEO, Square Yards.

Tier-2 cities, spiritual hubs emerge as key destinations

The report, titled ‘Expanding Horizons: The Next Growth Markets for Senior Living in India’, noted that India’s senior living market is entering a new phase, with growth increasingly moving beyond established metros into Tier-II cities and spiritual hubs.

It identified 15 priority cities that could shape the next wave of senior housing, based on factors including healthcare access, connectivity, affordability, climate and social infrastructure.

As aging accelerates alongside the nuclearisation of families, migration, and changing household structures, the report pointed that “demand is shifting toward organised housing that combines independence with healthcare, safety, and community”.

Next growth centres: Cities that will shape senior living

It added that while Bengaluru, Hyderabad, Pune and Chennai remain important senior-living markets, the next phase of senior living will be defined by a broader geographic footprint. It identified tier 2 cities Coimbatore, Vadodara, Nashik, Kochi and Mysuru as gaining ground.

Further, the report also listed spiritual centres sucg as Ayodhya, Varanasi, Haridwar and Tirupati, to be emerging as distinct retirement and second-home destinations.

• Tier-II cities offer relatively affordable housing (1BHK available for below ₹70 lakh as per property websites), improving healthcare infrastructure and a more manageable pace of life while spiritual hubs bring an additional pull through cultural familiarity, community and retirement aspirations.
• It also noted that the opportunity comes with a clear infrastructure requirement.
• Healthcare partnerships, emergency response systems, reliable operators and transparent service models will be critical to building confidence among seniors and their families, the report adds.

How Indians thinking about retirement is changing

The report added that the geographic expansion of senior living reflects a broader change in how Indians are thinking about retirement. Shori noted that the future of senior housing in India will be defined not only by unit count but by how intelligently developments respond to care needs, accessibility and social connectivity.

“Integrating reliable medical access with dignified lifestyle ecosystems will be the benchmark for the sector’s long-term scale and credibility,” he said.

• The next generation of communities will need to support mobility, preventive healthcare, social engagement and day-to-day independence while giving families confidence that care is accessible when required.
• As senior living evolves, projects that simply provide age-friendly apartments without combining residential real estate, healthcare, hospitality and wellness, may struggle to meet expectations.
• Wellness-led amenities, could emerge as a decisive differentiator for Indian developers, seeking to capture the next phase of growth in this segment, the report highlights.

“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 at Square Yards.

Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.