Mumbai, July 28 -- Primus and HDFC Capital have formed a partnership to launch a senior living platform backed by Rs 20 billion (bn) in capital. The platform is intended to develop purpose-built, institutional-quality communities that promote health, wellness, social engagement and independent living for older adults. The partners described the initiative as a step to professionalise senior living and to meet growing long-term housing needs among ageing populations overall.
India's senior population is projected to reach 346 million by 2050, creating a substantial increase in demand for quality senior living solutions. The organised sector remains substantially underserved, with penetration estimated at one point three per cent compared with around six per cent in more mature international markets. Demographic shifts such as rising life expectancy, the prevalence of nuclear family structures and greater geographic mobility among younger generations are driving demand for professionally managed communities.
HDFC Capital's chief executive officer said the sector faces a shortage of long-term institutional capital for development of purpose-built senior living communities and that the partnership with Primus aims to build communities that support active ageing while establishing senior living as a scalable residential asset class in India. The investment aligns with HDFC Capital's strategy of maintaining presence across the entire spectrum of housing. Senior living is identified alongside student housing and industrial worker housing as a key focus area for building scalable, professionally managed platforms.
The platform will seek to attract institutional investors and long-term capital to expand the supply of age-friendly housing and services. By combining development expertise and capital, the partners intend to create integrated neighbourhoods designed for health and social engagement, with professional management and operational standards. The initiative is presented as a response to an undersupplied market and as a means to catalyse broader institutional interest in senior living as a mainstream asset class.
Published by HT Digital Content Services with permission from Construction World.