The elderly in India until the unfolding of the 21st century were well respected and recognized by the society by virtue of their knowledge, expertise and life experiences. They were holding the key positions within the households and being resourceful they were consulted in almost all affairs of a family. During the sunset years of their lives, the elders were properly cared by other family members. But, with breakdown of joint family system and diminishing social values, concern and care for the elderly got affected to a larger extent and today, the elderly find themselves totally helpless and hopeless with neither the family nor the society taking responsibility for their care and support. On the other side, the share of the senior citizens to the Population in India is increasing in an alarming rate further increasing the dependency ratio, i.e., 10.9% in 1961 to 14.2% in 2011. This raises a quest for the wellbeing of the elderly and their care in the present scenario. Today, elderly are being marginalized, victimized in current society and often abused by their own family members. Against these backdrops, the paper aims to highlight issues and challenges of the elderly living in institutions (Old-age Homes) and the elderly staying in their family in Sambalpur City, Odisha. Further, the paper attempts to devise suggestive measures to address the elderly issues. Data for the study has been collected by using interview schedules, focus group discussions and case studies.