Dependent settlement visa for elderly parents are not easy to get but NOT impossible. I know couple people who has bought their parent over here sucessfully but they are widowed and over 65 so was easier for them.
''living alone outside the United Kingdom in the most exceptional compassionate circumstances'' is only apply to those who is under 65 years old. As your dad is 65 and your mother will be travelling with him I don't think you'll have to prove that. How ever you need to prove the followings....the person is
(i) is related to a person present and settled in the United Kingdom
(ii) is financially wholly or mainly dependent on the relative present and settled in the United Kingdom; and
(iii) can, and will, be accommodated adequately, together with any dependants, without recourse to public funds, in accommodation which the sponsor owns or occupies exclusively; and
(iv) can, and will, be maintained adequately, together with any dependants, without recourse to public funds; and
(v) has no other close relatives in his own country to whom he could turn for financial support;
since your parents own a house and get pensions they are NOT wholly or mainly dependent on you. Can you prove that the pension they are getting is not enough to have a basic life over in India? 12 000 INR of pension is rather high for some one who lives in India in their own home.
I'd rather be honest about the pension, house and everything else on the application. There is some thing called 'village visit'. I don't know whether that is still in ppractice but I wouldn't personally take the chance. here is the link, see AnneX in section 6.
http://www.ukba.homeoffice.gov.uk/sitec ... schapter8/
If you are desperate to bring them over here then go for it and prepare to appeal later.
Good luck