The demand for India’s luxury housing segment is increasing, propelled by the post-pandemic shift in buyers’ priorities towards luxury and spacious living spaces. With a newfound emphasis on quality of life, affluent buyers seek residences offering privacy, comfort, and high-end amenities that enhance the living experience. This heightened demand is visible in urban hotspots like Delhi-NCR, Mumbai, and Bengaluru, where the allure of upscale living is driving a surge in luxury housing projects.
As the luxury real estate sales grow, the supply of high-end residences also propels. The spurt was seen in prime cities in India, with Delhi-NCR emerging as the market leader in land deals, accounting for 32% of market deals. This reflects the huge demand for housing spaces leading to the surge in land tapping by the developer community. Market analysis shows developers are actively looking for land acquisition to continue with the new launches.
The ever-increasing aspirational demographic and increased NRIs and HNWIs have significantly boosted demand for luxury real estate. Quality-conscious and exclusive, they look at homes that reflect their lifestyle aspirations and values in sustainability and modern conveniences. They are attracted to homes with high-end amenities, designer interiors, and, often, personalized touches that mirror their social standing. Similarly, expatriates returning to India, who are well-traveled and accustomed to a global standard of living, demand sophisticated residences that match their expectations of luxury standards.
Meanwhile, wealthy millennials are also redefining the luxury home landscape, as they emphasize flexible spaces that suit both work and lifestyle needs. Privacy and community are both significant for this demographic, and they seek a balanced mix of exclusive, private residences alongside an integrated lifestyle. Besides, location is one of the main factors for buyers, driving their demand for prime locations and offering convenience and exclusivity. Their focus on location and connectivity indicates that the buyers intend to have a residential property that is supportive of work, leisure, and their social life.
Developers understand these evolving preferences and are balancing the surging demands by crafting luxury homes that embody exclusivity and quality. They are choosing an upscale neighbourhood or expanding their presence in already established and well-connected areas, offering both luxury and convenience to their buyers and investors.
In Delhi-NCR, developers are positioning their new projects in strategic locations boasting well-planned connectivity, and requisite physical and social infrastructure. Gurugram has been a preferred destination for luxury living and over the years, the luxury housing market here and its peripheries have evolved drastically.
Backed by the constantly increasing demand, Gurugram is witnessing new launches in highly competitive micro-markets like Sec-46, Golf Course Road, and Golf Course Extension Road. Besides, the SPR and Dwarka Expressway corridor are equally in demand for luxury housing projects, and in response, developers are responding to the inflated demand by strategically launching projects in these locations.
Furthermore, today’s luxury homebuyers place immense value on sustainability and energy efficiency, viewing eco-friendly features as essential components of a premium living experience. To meet these demands, developers focus on adopting a variety of sustainable practices that have become hallmarks of luxury developments. The modern luxury residential developments are equipped with high-end amenities that cater to a desire for an elevated, all-encompassing living experience, transforming everyday routines into luxurious indulgences.
Looking ahead, the market is poised for continued growth, with an increasing focus on sustainable developments and advanced amenities that cater to the demands of a forward-thinking buyer base. By continually adapting to buyer expectations, developers balance scaling up supply and preserving the exclusivity and quality-defining luxury properties.
