The Rise of Senior Living in India | Ankur Gupta on the Silver Economy & Future of Housing

Added: 2026-05-31

[00:00:00]As economies become stronger [music] and people make more money, they become nuclear as a family. [music] So, it's not the other way around. I think that's what's playing out in India. So, when we started, [music] it was really difficult because we had this There was no senior living in the country. We had this vision. [music] We had seen lots of senior living worldwide. And most seniors at the time was thinking of old age home, right? They retired at 60 to 62. [music] And it takes a couple of years to see that what they imagined their life to be >> [music] >> is not exactly the way they want to live. What worries me right now is most [music] real estate developers see that oh, you know, that guy's making money.

[00:00:36]So, it looks like good. So, why don't I come in? And they get [music] their hands burned. So, they looked at it as a real estate return business, not as a passion business.

[00:00:43]>> So, you mean to say that passion [music] is the element which should be there.

[00:00:47]>> You know, if you're taking care of residents and you don't have passion, it'll be very difficult for you to customer saying that oil in my food.

[00:00:54][laughter] >> Correct.

[00:00:55]>> It's It's It's [music] for him that that that's the lunch he's eating every day and that's important for him.

[00:01:10]>> Hello and welcome to India next real estate expo vodcast, your window to new opportunities. I am Konkona Mukherjee, executive editor at HT Media. And through this special vodcast series, we are bringing together some of the most influential voices shaping the future of India's real estate landscape.

[00:01:31]Today, we are discussing a segment that is rapidly moving from niche to mainstream, senior living and the rise of India's silver economy.

[00:01:41]As India's demographics evolve, senior living is no longer just about housing.

[00:01:47]It's becoming a conversation around lifestyle, wellness, health care, independence, and long-term community living. And joining us today is someone who has played a pivotal role in shaping this category in India, Mr. Ankur Gupta from Ashiana Housing. Thank you so much, Mr. Gupta, for coming in today.

[00:02:06]>> Thank you so much for having me.

[00:02:07]>> As we delve into this category today, is senior living is becoming a part and parcel of this real estate ecosystem more and more. So, how do you see this evolution over the last decade?

[00:02:19]>> So, basically, I think the way the demographics of India is changing and, you know, we are a young population but getting to become an older population.

[00:02:26]And as the demographic shift and the urban India, if you look at the way the economy of India, which got free in the '90s and the private sector came in and those those are the guys who are now retiring. So, I think that that market is really growing a big journey with them.

[00:02:42]>> I would just take that cue from there, that what are the biggest demographic and the lifestyle changes which is happening and they're acting as a catalyst in this category wherein senior living is choosing the community living here.

[00:02:54]>> So, one of the funny things is, you know, what what I learned and this was something I learned in Indonesia, actually. So, they said, "As economies become stronger and people make more money, they become nuclear as a family. So, it's not the other way around where we have more money and we'll be have bigger houses. We have When we have more money, we have more smaller houses." So, what I think that's what's playing out in India, you know, as as jobs get available but the jobs' requirement, you know, the kind of hours we have to work, then we have our own children, commute becomes longer. So, there is no time left for parents and and this thing. And what we're seeing is these parents now who are in their 60s are looking and feeling younger than they ever could.

[00:03:37]And they want their life to be very different than the way we we think about it. You know, we thought about our grandparents as somebody who who are always home, watching TV, would go for a morning walk. And that has completely changed and people want more from their lives.

[00:03:52]and I think senior living is that piece which kind of bridges that gap.

[00:03:56]>> So, what becomes the turning point in the lives of the seniors when they kind of decide that that's what they want to do and they would take the final call in moving towards a senior living community?

[00:04:07]>> I think most seniors, you know, I see very few of them who who start deciding in their 50s. They're the guys who are thinking ahead. But, if you look at most seniors who decide would be in the range of 63 to 66. And I think the reason is they retired at 60 to 62, and it takes a couple of years to see that what they imagined their life to be is not exactly the way they want to live. And they need something which really brings the community together. They want you know, we we I always say hum umr ke dost. So, do we have people who are, you know, our age who want to do things?

[00:04:42]And I think a retirement housing or senior living brings that to come.

[00:04:45]>> Mhm. So, while they take this decision, so are the children involved or it's it's a very independent call that the seniors take for themselves?

[00:04:54]>> Uh 98% of our our homes purchased, not just us, most developers if you talk to would be saying that it's bought by the senior themselves with their own funding. So, So, it's largely being bought by the senior on their own funding, but they actually look for their children for approval. So, before they buy, they will they will do all the research, they'll say, "Oh, this is final." And then they'll call up the child that I have found a lifestyle for me. Is it okay with you?

[00:05:17]>> Okay. So, So, when we talk about today's buyers, senior buyers, so how are they different than what they were a couple of years back maybe?

[00:05:26]>> So, when we started, it was really difficult because we had this there was no senior living in the country. We had this vision. We had seen lots of senior living worldwide, US, Australia, UK. And we wanted to bring something very different. And most seniors at the time was thinking of old age home, right? So, it took us a lot of time first actually to educate my own team, and then to educate the customer. So, it was a very different buying uh journey, and they were coming for different reasons. May not be the reason we were selling for.

[00:05:53]And what's happened is because after our first project, people have seen that.

[00:05:57]And when they come to our second project, they're already expecting a very different lifestyle.

[00:06:01]>> Something better, maybe.

[00:06:02]>> And our second and third project are very, very active because the seniors want to do so much more.

[00:06:08]I've had seniors who said, "Can you make a disco in my project?" You know, that kind of stuff. So, it's been beautiful.

[00:06:13]Like, I had this uh resident who was a Kathak performer when she was a kid. Uh and after that, never performed after that. And when she came in her 60s, she gave one of the best performance. We have this Inter-Ashiana Senior Living Competition, and she performed in there and was like mesmerized.

[00:06:29]>> Oh, I love that.

[00:06:29]>> And and that's what we want seniors to do.

[00:06:32]>> Okay. So, uh when we talk about it from the developers' perspective, and they want to do it for investment purposes, so how crucial is this, and how lucrative it is for them?

[00:06:43]>> So, definitely, you know, it's one of the asset class which makes very good money worldwide. If you look at US, it's in the real estate segment, uh uh senior living continues to be one of the best asset classes. But, I think the biggest problem which people are looking at is then they're coming at it as an opportunity, and not as a It's It's a product with a lot of services attached to it. And what worries me right now is most real estate developers see that, "Oh, you know, that guy's making money.

[00:07:09]So, it looks like good, so why don't I come in?" And they get their hands burned. So, if you look at even the last 5-7 years, top players in India had tried to come into this business, and they got their hands burned because they looked at it as a real estate return business, not as a passion business.

[00:07:24]>> Yeah, yeah. So, you mean to say that passion is the element which should be there.

[00:07:28]>> You know, if you're taking care of residents and you don't have passion, it'll be very difficult for you to listen to them, to cater to them. When they have, you know, a customer saying that oil jada hai in my food, >> Correct.

[00:07:40]>> it's it's it's for him that that that's the lunch he's eating every day and that's important for him. But for me as a developer like one customer eating So, you have to be very very driven to get that service out.

[00:07:51]>> I think I think that's a that's a very beautiful point that you had put it across that it has to have a emotional connect to it. So, apart from that while you're designing these facilities, so how important or crucial is uh is the safety, is the wellness, or the social engagement? How important do these elements play?

[00:08:11]>> All of them are important, but the number one is social engagement. What we are looking for is more purpose in life, more uh callings in life. You know, we want to have a community. The emotional bonding which we create is very important. Again, going back to my father used to say, you know, when it If you ask most people in the world when did they have their best time, they'll either go to high school or college, right?

[00:08:32]>> Oh, true.

[00:08:33]>> So, it's about like can you create that environment after retirement? And now you have time, you have money, you've got so much things you can do. So, I've got like seniors who've learned billiards, uh learned swimming, learned basketball, learned like different sports, different things. So, to ask the number one thing becomes social.

[00:08:52]Number two, I think is safety. And number three is the the health care which which is I think more important is wellness. There was an interesting research done in the US and we kind of repeated the research in India also where they found out people living in retirement communities just do not live They live 23% longer than other people, but not just longer, they live healthier for longer, which is very important. So, I think the wellness side of the business is very very important. We've seen the same thing. We did a research where we spoke to people who are living in our community and people who are living in Delhi who are of similar age.

[00:09:25]And So, we did a quality of a quality of life survey.

[00:09:30]And it was almost twice as good to live in a retirement community than in our housing.

[00:09:34]>> So, um coming to the consumer behavior, So, while these seniors, they move into these uh senior living communities and there's this an apparent lifestyle change, right? So, how well do they acclimatize? Because they must have had their own houses, they must have owned their own setup and everything, and then they're coming to a community living with with with so many others, right?

[00:09:55]So, how well do they adapt to it and and how's their journey?

[00:09:59]>> Most of them adapt to it very fast.

[00:10:01]>> Okay.

[00:10:01]>> I remember as a kid I went to a boarding school. I was excited about a boarding school. And most of the people who come to a boarding school, if they take take a decision to come to a boarding school, they're excited about it. So, most of the seniors who come to our project are super excited about trying different things, meeting new people, and we create an environment where, you know, anybody who comes in our our social worker our our activity executive would meet them and see what their interest is. Let's say they like dancing, so we'll call them for the first dance and then they'll get to meet other people and they become friends with them. So, you know, it's it's a fantastic feeling and and they really they really really enjoy the idea of community life, which is different. So, I think most people who come in love it.

[00:10:44]>> So, it seems more of fun and they're like looking forward to it, is it?

[00:10:48]>> It is and and I keep saying if you go to a senior living from the outside you won't be able to say it's senior living.

[00:10:53]Even if after a little bit of time you'll get to know it's Oh, yeah, it's all seniors here.

[00:10:58]Otherwise, their lifestyle is very different.

[00:10:59]>> So, we almost come to an end of this conversation today, Mr. Gupta, but then I would want to understand from you that is in one liner, that is, if you have to define the future of senior living in our country, so how would you say that?

[00:11:12]>> So, I think it's it's going to be lots and lots of options of different kinds of senior living coming in in the country today. I would say if to residents, please choose wisely. I think there's lots and lots coming, very very different things.

[00:11:24]>> So, thank you so much, Mr. Gupta, for coming here today and sharing all these valuable and so much information about this segment that we were not aware of.

[00:11:33]>> Thank you so much.

[00:11:34]>> So, what's clear is that senior living is no longer just a housing segment.

[00:11:38][music] It's becoming an important part of how India will live, age, and invest in the future. And as the silver economy continues to grow, the space is likely to play a defining role in the next phase of real [music] estate development. Thank you everyone for joining us today. This is Konkona Mukherjee, your host with the India Next [music] Real Estate Expo, your window to new opportunities. Stay tuned for yet another episode of interesting conversation in the real estate [music] industry.