Luxury real estate demand in India is hitting new heights. Mumbai alone saw 21 ultra-luxury units sold, totaling ₹2,200 crore. High-net-worth individuals are driving this trend, and developers are meeting demand with new, upscale projects in cities like Mumbai and Delhi-NCR.
Rising luxury real estate demand across India
Across India, developers are launching premium projects to attract affluent buyers. Real estate experts note that demand is high for properties over ₹5 crore, with limited supply intensifying interest. Wealthy buyers are now favoring spacious apartments with modern amenities instead of traditional bungalows.
New real estate projects target high-end buyers
In response, major developers are unveiling high-end residences. DLF’s The Dahlias in Gurugram, for instance, reflects this shift. The 17-acre project in DLF 5 will feature 420 ultra-luxury apartments, each at least 10,300 square feet, priced from ₹80 crore. This upscale offering underscores the luxury demand surge, especially in Delhi-NCR.
Noida is also emerging as a luxury hub. County Group’s Sector 115 project includes luxury apartments priced between ₹9 crore and ₹13 crore. Gaurs Group recently launched a high-value project in Ghaziabad worth ₹3,100 crore, which sold out within days. Clearly, demand is strong across these regions.
Significant growth
The luxury housing sector in India has shown remarkable growth. A CBRE report highlights a 37.8% year-on-year increase in sales for homes above ₹4 crore during January to September 2024. Approximately 12,625 luxury units were sold in this period, up from around 9,160 units the previous year.
Increased interest from NRIs and affluent domestic investors is also fueling the demand for luxury properties. India’s luxury housing growth reflects changing lifestyles, higher aspirations, and developers’ willingness to meet the demand with prime offerings.
India’s luxury real estate market is thriving, with high-end buyers seeking exclusive properties featuring modern amenities and expansive spaces. This demand is driving developers to innovate and offer more luxury projects across major cities. With limited supply and strong interest, the sector is poised for continued growth.
