Rustomjee Group is evaluating an entry into the senior living segment, with the Mumbai Metropolitan Region (MMR) offering potential for more than 5,000 homes, according to Boman Irani, chairman and managing director of the group. The company is considering developing projects independently or partnering with a specialist operator, although its investment plans, project pipeline and operating structure are yet to be finalised.
Speaking on the sidelines of CREDAI NATCON 2026 in Kolkata, Irani said senior living within established urban areas could attract homebuyers who want independent living while remaining close to their families, friends and existing social networks. He noted that many prospective residents may prefer to stay in Mumbai rather than relocate to retirement destinations outside the city.
India’s ageing population and changing family structures are expected to support demand for organised senior housing over the coming decades. According to the Association of Senior Living India (ASLI), the population aged 60 years and above is estimated at 166.9 million in 2026 and is projected to reach approximately 347 million by 2050.
Senior Living Supply Expected to Expand
Despite the growing demographic base, India’s organised senior living sector had around 25,050 units as of June 2026, representing a penetration rate of approximately 1.5%. The sector recorded a compound annual growth rate of 14.2% in organised inventory between 2024 and the first half of 2026, compared with 8.5% during 2019–2023.
An ASLI-JLL report projects organised senior living supply to reach around 74,000 units by 2030. Colliers estimates that inventory could increase to nearly one lakh units by the same year, against potential demand of approximately 30 lakh units. The consultancy also expects the market to grow beyond ₹1 lakh crore by 2030 from its current estimated value of ₹30,000 crore.
Real estate developers and investors are expected to deploy more than ₹13,000 crore in senior living projects over the next three to four years, according to Colliers.
Real Estate Developers Increase Participation
Several established developers have started expanding their presence in the segment. DLF reported selling all 172 residences at The Aureva, its luxury retirement living project in Sector 63, Gurugram, generating sales of approximately ₹1,985 crore. The project spans 4.17 acres and has a saleable area exceeding 7.5 lakh sq ft.
Signature Global has also underwritten two residential towers to a senior living company for a project in Sector 37D, Gurugram. Meanwhile, Ashiana Housing is targeting senior living bookings of around ₹750 crore in the current financial year. The segment contributed approximately ₹530 crore, or slightly more than 20% of the company’s overall bookings, in the previous year. The company aims to increase senior living’s share to around 50% of its total bookings over the next five years.
Assisted Care and Affordability Remain Challenges
The opportunity extends beyond residential units to healthcare access and assisted-living services. Assisted living accounts for less than 10% of India’s organised senior living stock, compared with 24–29% in more mature markets. India has around 2,100 organised assisted-living beds, while an estimated 8.8 million people live with dementia.
According to ASLI, approximately 12.2% of senior citizens may require supportive or palliative care. This creates demand for projects integrating emergency assistance, healthcare access, nutrition and community management alongside residential amenities.
Affordability is another consideration. A Jeevin Consulting study estimates that urban Indians may require a retirement corpus of ₹2.5–6 crore to support a comfortable lifestyle for 25–30 years, depending on their location, healthcare requirements and housing choices.
Rustomjee Reports Higher Quarterly Pre-Sales
Keystone Realtors, which develops projects under the Rustomjee brand, recorded quarterly pre-sales of ₹1,423 crore in Q2 FY27, an increase of 84% from ₹772 crore in Q2 FY26. Pre-sales for H1 FY27 rose 11% year-on-year to ₹2,041 crore, representing around 41% of its full-year guidance.
However, collections declined to ₹541 crore in Q2 FY27 from ₹669 crore a year earlier. H1 collections fell to ₹1,141 crore from ₹1,245 crore. The company added two projects during the first half of FY27, with a combined saleable area of 1.41 million sq ft and an estimated gross development value of ₹547 crore.
