Reverse mortgages have emerged as a viable financial instrument in various countries, offering a means for elderly homeowners to tap into the value of their homes to support their financial needs in retirement. This research article presents a comprehensive analysis of the landscape of reverse mortgages in India, a nation with a rapidly growing aging population and a housing market that has witnessed significant appreciation in property values over the years. The study begins by providing an overview of the Indian housing market and the demographic trends that underscore the need for financial solutions tailored to the elderly population. We examine the regulatory framework governing reverse mortgages in India, highlighting key provisions and restrictions, while also evaluating the role of financial institutions in offering such products to the elderly.