Introduction: Rapid Expansion in Premium Housing 

India’s luxury residential real estate market is witnessing a strong growth phase, driven by rising demand for premium living spaces in metro cities and increased investments from non-resident Indians (NRIs). The India luxury residential real estate market is expected to reach USD 44.11 billion by 2025, reflecting a robust appetite for high-end homes among affluent buyers. 

In the first half of 2024, residential unit sales across India’s top eight cities rose by 11% year-over-year, marking the highest growth in over a decade. Luxury properties priced at INR 1 crore and above made up 41% of these sales, up from 30% in the same period of the previous year. This shift in demand is largely attributed to changing buyer preferences and improved income levels among upper-middle-class and high-net-worth individuals. 

Alongside this, developers launched 183,401 new units in the first half of 2024, a 5.8% increase compared to the previous year. Mumbai continues to lead the luxury housing space with 47,259 units sold, setting a 13-year high. The city also saw a remarkable 117% increase in the sale of properties priced above INR 1 crore. 

The focus on premium housing has led to a decline in sales of affordable units. Homes priced below INR 50 lakh dropped to 27% of total transactions in the first half of 2024, compared to 32% a year ago. This shift underscores the evolving priorities of homebuyers in India's urban centers. 

 Key Trends Driving the Market 

Branded Residences Gaining Momentum 

One of the most noticeable trends in India’s luxury real estate market is the rise of branded residences. These are premium housing projects associated with luxury hospitality brands that bring global design, amenities, and services into the residential space. Buyers are increasingly drawn to such properties for their exclusivity, status, and value-added services. The presence of a brand also enhances trust and helps command higher resale value, making them attractive long-term investments. 

Non-Resident Indians Driving Sales 

NRIs are emerging as a significant force in the luxury residential market. Their share in property purchases has increased from 7–10% before the pandemic to nearly 25% in recent years. Factors such as a favorable exchange rate, the emotional appeal of owning a home in India, and confidence in Indian real estate have contributed to this trend. Cities like Bengaluru, Mumbai, and Delhi are among the top choices for NRIs, with many preferring luxury apartments and gated communities for both personal use and investment purposes. 

Changing Buyer Preferences 

Post-pandemic, there has been a clear shift in consumer preferences. Buyers now prioritize larger homes with balconies, work-from-home spaces, and access to wellness amenities. This has pushed developers to rethink layouts and amenities in high-end projects. Gated communities offering features like gyms, clubhouses, and landscaped open spaces are particularly in demand. This lifestyle-centric approach is redefining luxury housing beyond just location and interiors. 

Market Segmentation

India’s luxury residential real estate market is segmented based on property types and geographic regions. Understanding these segments is crucial to assessing growth patterns and buyer behavior. 

By Property Type: 

By Geography: 

Key Players in the Market 

Several developers with a proven track record are leading the luxury housing segment in India. These companies focus on offering premium construction quality, top-tier amenities, and customer-centric services. The most active players include: 

These developers are adapting quickly to market trends, incorporating sustainability, smart home technologies, and branded partnerships to appeal to the new-age luxury buyer. 
 
Explore more about India Luxury Residential Real Estate Market Competitive Landscape:  https://www.mordorintelligence.com/industry-reports/india-luxury-residential-real-estate-market/companies?utm_source=prfree.org 

Conclusion: Looking Ahead 

India’s luxury residential real estate market is growing steadily, supported by a strong influx of NRI capital, evolving consumer preferences, and a greater focus on branded and lifestyle-driven developments. With the market expected to reach USD 44.11 billion in 2025 and further expand to USD 118.30 billion by 2030, the outlook remains positive. 

While affordability remains a concern in the broader housing sector, the luxury segment has successfully carved out a space where quality, exclusivity, and service matter more than price. Developers who understand and deliver on these expectations are well-positioned to lead the next phase of growth in India’s high-end real estate landscape. 
 
For more market analysis, visit the Mordor Intelligence page: https://www.mordorintelligence.com/industry-reports/india-luxury-residential-real-estate-market?utm_source=prfree.org 

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