Primus and HDFC Capital unveil Rs 2,000 crore senior living investment platform in India

Primus Senior Living and HDFC Capital have partnered to create a Rs 2,000 crore platform to develop senior living communities across six major Indian cities.

Advertisment

The platform will build institutional-grade projects through ownership and rental-led models, the companies said in a joint statement. It is intended to help establish senior living as a mainstream residential asset class in India.

The companies described the venture as the country’s largest institutional investment platform for the senior living sector. The claim has not been independently verified.

The planned communities will focus on health, wellness, social engagement and independent living. The rental model is aimed at older people seeking professionally managed accommodation without committing to home ownership.

Adarsh Narahari, founder and managing director of Primus Senior Living and Marzi, said the company was seeing increased interest in such developments.

“We are witnessing strong demand from seniors seeking active, independent and community-oriented lifestyles. HDFC Capital brings deep expertise in housing, patient capital and a long-term approach to sector building,” he said.

India’s population aged 60 and above is projected to increase from 162.2 million in 2025 to 346 million by 2050, according to a report published by property consultancy JLL in December 2025.

The report estimated that India had 22,157 organised senior living units as of June 2025. Market penetration stood at about 1.4%, compared with 6% to 7% in the United States and 14% to 15% in New Zealand.

Longer life expectancy, the growth of nuclear families and changing attitudes towards independent living have contributed to demand for specialist housing for older people.

Vipul Roongta, CEO of HDFC Capital, said the sector continued to face a shortage of long-term institutional funding for purpose-built developments.

“Through our partnership with Primus, we aim to build institutional-quality communities that support active ageing while establishing senior living as a scalable residential asset class in India,” he said.

The venture forms part of HDFC Capital’s strategy to develop professionally managed housing platforms. The company identified senior living as a focus area alongside student accommodation and housing for industrial workers.

Primus develops senior living and multigenerational housing communities that combine residences with hospitality, preventive healthcare, wellness and social activities. The company said it is backed by venture capital firm General Catalyst and entrepreneur Nikhil Kamath.

HDFC Capital is a subsidiary of HDFC Bank and the real estate private equity arm of the HDFC Group. Its funds formed a platform of about $4.5 billion as of 31 March 2026, focused principally on financing affordable and mid-income housing.