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India is gradually turning into graying nation. With increased life expectancy there is more number of citizens above 60-65 age range now. However the changes that come in later life – retirement, death of spouse, increased isolation - can lead to different psychological problems among which depression is quite common. At the same time, studies indicate that loneliness, self esteem are potent factors involved in such psychological problems. The present study was undertaken to find the relation of such factors on depression in elderly Kashmiris as well as their presence in different sections. The sample consisted of 100 old age retired persons taken from different districts of Kashmir. Geriatric Depression Scale, Rosenberg’s Self –Esteem Scale, and UCLA loneliness Scale were applied on the participants to collect the data. Spss 20 was used to analyse the data and results revealed significant positive as well as negative correlation among different variables. However no significant differences were found across gender and domicile of participants on any of the measure. Hence it is clear that there is relation of depression with lonliness and self-esteem, however the nature and the direction of effect is not fully established.