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Senior living market to touch $4.31 billion in 2026; Coimbatore, Vadodara, Ayodhya and Varanasi to emerge as retirement hubs
While Bengaluru, Hyderabad, and Pune remain key senior-living markets, cities like Coimbatore, Vadodara, Ayodhya and Varanasi, are emerging as retirement hubs
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India’s senior housing market is estimated to reach 4.31 billion in 2026, driven by an ageing population, the rise of nuclear families, migration and changing household structures. While Bengaluru, Hyderabad, Pune and Chennai remain key senior-living markets, smaller cities such as Coimbatore, Vadodara, Nashik, Kochi and Mysuru are gaining traction, alongside spiritual destinations including Ayodhya, Varanasi, Haridwar and Tirupati, according to a report released by Square Yards.
According to a report titled Expanding Horizons: The Next Growth Markets for Senior Living in India, spiritual centres, including Ayodhya, Varanasi, Haridwar and Tirupati, to be emerging as distinct retirement and second-home destinations.
"Tier-II cities offer relatively affordable housing, improving healthcare infrastructure and a more manageable pace of life while spiritual hubs bring an additional pull through cultural familiarity, community and retirement aspirations. However, 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 said.
Senior living sector is evolving beyond age-friendly homes
The report said that geographic expansion of senior living also reflects a broader change in how Indians are thinking about retirement.
As senior living evolves into a convergence of residential real estate, healthcare, hospitality and wellness, projects that simply provide age-friendly apartments may struggle to meet the expectations of an increasingly discerning senior population, the report highlights.
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, the report said.
“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. 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," said said Tanuj Shori, Founder and CEO, Square Yards.
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India’s senior living market set to reach $11.43 billion by 2031
The report said that India’s senior living market set to reach $11.43 billion by 2031, and that 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 said.
According to the report, as older homebuyers increasingly prioritise healthy ageing, independence and quality of life over conventional housing features, projects that integrate preventive healthcare, physiotherapy, fitness programmes, nutritious dining, mental wellness and community engagement into everyday living can command greater trust and stand apart from competing developments.
For developers, this approach can strengthen brand positioning, improve resident retention and create opportunities for recurring service-led revenue, making wellness not merely an amenity but a core business proposition, 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.
