Krisumi ties up with Japan’s Temari Group for senior living project

Krisumi Corporation, a joint venture between Japan’s Sumitomo Corporation and India’s Krishna Group, has partnered with Japan-based welfare and healthcare organisation Temari Group for its first senior living project in Gurugram.

The joint venture is developing a 33.38-acre integrated project in Sector 36A, Gurugram, and is finalising land for the senior living project.

“What India is doing in senior living segment is just 10% of what a place like Japan does. India needs more focus on senior living projects and that is why we have done another Japanese tie up and plan to develop a portfolio of senior living projects,” said Ashok Kapur, chairman, Krisumi Corporation.


Also Read: SeasonTwo Living and RPS Group inks partnership to develop senior-living communities in 10 cities

India’s senior living market is projected to reach $11.43 billion by 2031, with wellness-led amenities expected to emerge as a differentiator for developers seeking growth in the segment,according to a Square Yards report.

The firm has identified 15 priority cities that could shape the next wave of senior housing, based on factors such as healthcare access, connectivity, affordability, climate and social infrastructure.

Recently, SeasonTwo Living and RPS Group signed a memorandum of understanding to jointly develop professionally managed senior living and active living communities across India, initially focusing on Goa, Delhi and Varanasi (Banaras).

The partnership is part of a planned first-phase expansion across about 10 cities. The two companies are targeting around 2,000 residential and operating keys, representing a potential development opportunity of nearly Rs 1,500 crore.

Also Read: India’s senior living market to move to tier 2 cities

“We are beginning with Goa and Banaras because each offers a distinctive opportunity for senior living and active living,” said Sajan Pillai, chairman of SeasonTwoLiving.

SeasonTwo Living currently operates communities in Thiruvananthapuram and Kochi and plans to expand its Kerala platform to around 1,000 keys.

According to the Square Yards report, the next phase of senior living will be defined by a broader geographical footprint. While Bengaluru, Hyderabad, Pune and Chennai remain important markets, Coimbatore, Vadodara, Nashik, Kochi and Mysuru are gaining ground.

The report also identifies spiritual centres such as Ayodhya, Varanasi, Haridwar and Tirupati as emerging retirement and second-home destinations.

“India is observing the emergence of a multi-billion-dollar asset class driven by a generation of seniors, seeking not only assistance but also autonomy, specialised wellness and a high quality of life,” said Tanuj Shori, founder and CEO, Square Yards. “The future of senior housing in India will be defined not only by unit count but by how intelligently developments respond to care needs, accessibility and social connectivity.”