Rustomjee Group is exploring opportunities in the senior living housing segment. This real estate developer finds opportunities for developing over 5,000 senior homes in the Mumbai Metropolitan Region (MMR).
Boman Irani, Chairman and Managing Director of Rustomjee Group, shared the outlook during an interaction on the sidelines of CREDAI NATCON 2026 in Kolkata. The company may develop these projects independently or collaborate with a specialist partner. However, it has not finalised its investment plans or development strategy.
Demand for Senior Homes Could Grow in Mumbai
Rustomjee expects more older homebuyers to prefer residences within established urban areas. Many seniors want to maintain their independence while staying close to family members, friends, and familiar neighbourhoods.
Irani believes this preference could support senior housing demand across Mumbai and its surrounding areas. Rather than moving to distant retirement destinations, many older residents may prefer to remain connected to their existing social networks.
India’s ageing population and changing family structures could further strengthen demand over the next two decades.
Indian Senior Housing Industry Holds Untapped Potential
India’s senior living sector remains relatively small compared with the country’s ageing population. According to Association of Senior Living India (ASLI), the number of people above the age of 60 may increase from 166.9 million in 2026 to 347 million in 2050.
The organized senior housing industry reported about 25,050 units in June 2026. This represents penetration of only about 1.5%.
The ASLI-JLL study indicates that the organized senior housing stock could grow to approximately 74,000 units by 2030. Meanwhile, Colliers expects the market to expand further, with demand potentially reaching nearly 30 lakh units by the end of the decade.
Colliers also estimates that the sector’s market value could exceed ₹1 lakh crore by 2030. More than ₹13,000 crore could be invested in the coming three to four years in the senior living segment.
Major Developers Show Interest in Senior Housing
These real estate firms have begun to expand their footprint within this sector.
DLF has announced that it sold all of the 172 units in The Aureva, their senior living community located in Sector 63 of Gurugram. The project generated approximately ₹1,985 crore in sales.
Signature Global has also pledged two residential towers in Sector 37D of Gurugram to a company specialized in senior housing.
Ashiana Housing sees its senior living operations play a bigger role in its portfolio. The firm made senior living sales worth about ₹530 crore last year, and it has a goal of achieving sales worth roughly ₹750 crore in the current year.
These developments reflect growing interest from established builders in organised retirement housing.
Healthcare and Affordability Remain Key Concerns
Senior housing need more than just residences and recreational facilities. Older residents may also need healthcare access, emergency assistance, nutrition services, and specialised support.
According to ASLI, about 12.2% of elderly persons need to be looked after through supportive or palliative care. Nevertheless, assisted living constitutes just below 10% of India’s organized senior living inventory.
Affordability also remains a major consideration. A Jeevin Consulting study estimates that urban Indians may need a retirement fund of ₹2.5 crore to ₹6 crore to support 25–30 years of retirement. The amount depends on housing, healthcare, location, and care requirements.
Developers will need to consider these costs when designing senior communities for different income groups.
Rustomjee Records Strong Quarterly Pre-Sales
Keystone Realtors, operating under the name of Rustomjee, has recorded pre-sales of ₹1,423 crore in Q2 FY27. This marks an 84% increase from ₹772 crore in the corresponding quarter last year.
The company’s pre-sales for the first half of FY27 reached ₹2,041 crore, up 11% year-on-year. However, collections stood at ₹541 crore in Q2 FY27 against ₹669 crore in the same period last year.
In the first six months of FY27, Keystone Realtors have launched two projects that together have a total sellable space of 1.41 million square feet. The gross development value for these projects is ₹547 crore.
Outlook
Rustomjee’s proposed entry could add momentum to India’s organised senior living market. The company’s assessment of more than 5,000 potential homes in MMR highlights the opportunity within established urban communities.
The segment’s future growth will depend on suitable locations, healthcare support, affordability, and operating models that meet seniors’ changing needs.
