Authored by Ankur Gupta:
India’s real estate sector is evolving beyond traditional residential projects, with two promising segments — senior living and kid-centric housing. These markets, driven by changing demographics and lifestyle needs, offer developers new opportunities and provide residents with homes designed for their specific life stages.
Senior Living Communities
The demand for senior living in India is steadily increasing as societal shifts occur. Longer life expectancy, higher income levels, and a changing approach to retirement living are reshaping housing needs for the elderly. The senior population in India is projected to grow substantially, with 17.3 million Indians expected to be over 60 years old by 2026, and this figure is likely to jump to 21% of the population by 2050, per a United Nations Population Fund report.
This burgeoning demographic is looking for homes that offer safety, healthcare, and a sense of community—key factors in post-retirement life. Developers who can create secure, well-maintained environments that meet these needs will likely capture a significant portion of this untapped market. The senior living market in India, currently valued at around USD 12 billion, has the potential to grow fivefold by 2030 (Colliers). This is particularly striking given that senior housing in India currently accounts for just a 1% penetration rate in the organized sector, far lower than the 6-7% rates seen in developed markets like the US and UK. This indicates a substantial demand-supply gap, and developers who act early can play a pivotal role in shaping this segment’s future.
One of the driving forces behind the rise of senior living communities is the shift toward nuclear families. With younger generations often moving to urban areas for work and leaving their elderly parents behind, there is an increasing need for independent living spaces that cater specifically to senior citizens. Traditionally, the idea of placing parents in retirement homes was culturally frowned upon in India, but this perception is changing as seniors themselves look for autonomy and a vibrant social life post-retirement.
Developers have the chance to redefine the retirement experience, creating communities that not only provide essential services but also promote an active, engaging lifestyle. Integrated healthcare facilities, recreational activities, and social interaction hubs will be essential to these developments. The real challenge lies in ensuring affordability while maintaining high standards of care and infrastructure.
Kid-Centric Housing
At the other end of the spectrum, the concept of kid-centric housing is gaining traction as families seek living environments designed to support their children’s development. This trend is largely driven by the rise of dual-income households, where parents need safe, stimulating environments for their children while they manage their professional lives.
In kid-centric homes, the focus goes beyond just child-friendly amenities. These residential spaces are designed to foster children’s learning and growth in a holistic manner. This could mean integrated sports complexes, learning hubs, or dedicated spaces for extracurricular activities like music, art, and dance. With more working parents able to invest in high-end amenities, developers are beginning to see the potential in creating housing that caters to both convenience and the holistic development of children.
While still relatively new in India, the concept is catching on quickly. Kid-centric projects are being developed across cities like Pune, Bengaluru, and Noida by major players such as Gera Developments, Prestige Group, and Supertech. These homes are not only about meeting current housing needs but also offering an environment that supports the physical and intellectual growth of children, providing long-term value to families.
Merging Safety, Convenience, and Growth
Safety is a primary concern for parents when selecting housing, and kid-centric homes are designed with features like childproof switches, high balcony railings, and rounded furniture edges. However, it’s not just about physical safety; parents are also seeking environments where children can explore and grow without constant supervision. The convenience of having access to top-tier educational and recreational facilities within the residential complex offers peace of mind and encourages children’s all-around development.
From a developer’s perspective, there is a clear market for these homes, particularly as urbanization continues and families shift toward nuclear structures. This trend could become a major differentiator in an increasingly competitive real estate market, with more families willing to pay a premium for homes that cater to their children’s needs. Kid-centric housing could potentially see a 5-7% price premium over regular residential projects within the next few years, making it an attractive proposition for developers.
Both senior living and kid-centric housing represent new growth avenues for Indian real estate. While the senior living market is driven by a massive population that is looking for independence and security in their later years, the kid-centric housing market taps into the rising aspirations of young families looking for homes that are more than just living spaces.
(The author is joint managing director of Ashiana Housing)
