Real estate developer Ashiana Housing Limited has announced a capital outlay of ₹425 crore for FY2025–26 to expand its footprint in the senior living housing segment, with plans to enter key metros including Mumbai, Bengaluru, and the Delhi-NCR region.
The proposed investment will cover land acquisition payouts, construction, execution costs, and other project-related expenses. A significant portion will be dedicated to new city entries and expansion of ongoing projects.
The company’s allocation for FY2025–26 marks nearly a 100% jump from the ₹213 crore invested in senior living last year, when it recorded a booking value of ₹382 crore. For the current fiscal, Ashiana is targeting ₹450 crore in bookings and the launch of five new phases in existing senior living projects, adding about 5.71 lakh sq. ft. of saleable area.
In FY2024–25, the company constructed approximately 5.38 lakh sq. ft. in this segment, which now accounts for over 30% of its residential portfolio.
Ashiana currently operates nine ongoing senior living projects — three each in Bhiwadi (NCR) and Chennai, and one each in Jaipur, Pune, and Lavasa (Pune). The expansion into Mumbai and Bengaluru is aimed at tapping urban markets with growing demand for specialised housing for older adults.
Market potential backed by demographic shifts
The growth push is supported by strong demographic trends. As per the JLL-ASLI Report, India’s senior population is expected to rise from 156.7 million in 2024 to over 346 million by 2050. Rising life expectancy, greater financial independence, and changing family structures are creating demand for structured senior living communities.
Industry consultancy Colliers India estimates the sector’s current valuation at USD 2–3 billion, projected to reach USD 7.7 billion by 2030, representing one of the fastest-growing real estate segments in the country.
‘More than a business segment’
“Senior living is more than a business segment for us — it is a long-term commitment rooted in demographic need and social relevance,” said Ankur Gupta, Joint Managing Director, Ashiana Housing Ltd. “The increased investment and our entry into Mumbai, Bengaluru, and other cities reflect our conviction in the segment and our ability to deliver integrated housing solutions with ongoing support and community engagement.”
Addressing challenges
While the market opportunity is expanding, the sector faces structural challenges, including slow conversion cycles and consumer confusion between senior living and old-age homes. Additionally, post-possession service delivery is becoming increasingly complex, with rising lifestyle and healthcare expectations.
Ashiana says it mitigates these issues through transparent communication with buyers, in-house operational management, and an emphasis on service continuity, seen as a key differentiator in this segment.
Policy support
Supportive government policies have also bolstered the sector’s prospects. States such as Maharashtra and Haryana have introduced incentives like higher Floor Space Index (FSI) in green zones and development allowances in restricted sectors, helping unlock land potential for senior living projects.
With a combination of market demand, regulatory support, and a larger investment pipeline, Ashiana Housing’s latest expansion signals its intent to become a leading player in India’s evolving senior living real estate market.
Also Read: CCI rejects objection raised by AGI Greenpac, clears way for Uganda’s INSCO takeover of HNG
