India Luxury Residential Real Estate Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 38.02 Billion |
| Market Size (2029) | USD 101.92 Billion |
| CAGR (2024 - 2029) | 21.81 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
India Luxury Residential Real Estate Market Analysis
The India Luxury Residential Real Estate Market size is estimated at USD 38.02 billion in 2024, and is expected to reach USD 101.92 billion by 2029, growing at a CAGR of 21.81% during the forecast period (2024-2029).
- Luxury real estate in India is booming in 2023 due to the growing demand from affluent buyers who are looking for high-end properties with modern amenities and beautiful designs.
- The trend towards a more modern, sophisticated, and luxurious lifestyle directly results from urbanization and rising disposable incomes. The luxury real estate market growth in India is also directly linked to the changing lifestyle trends of affluent buyers. According to the data, 17.5% (approximately 65.680 units) of the 365,000 units in the top 7 cities were luxury units in 2022.
- Luxury buyers want homes that reflect their styles and preferences, and they’re willing to pay more for homes that stand out with unique designs, high-quality materials, and meticulous attention to detail.
- India’s rapid urbanization has also played a role in this growth. More and more people are moving to urban areas in search of better jobs, better quality of life, and better infrastructure.
- This has led to a rise in disposable income for many people, especially in urban areas where most of the luxury properties are situated. As a result, more and more people can afford luxury properties, which has contributed to the growth of the Indian luxury real estate market.
India Luxury Residential Real Estate Market Trends
The growing presence of (HNIs) and (UHNIs) in major cities across the nation.
Luxury living in India is on the rise, and developers are capitalizing on this trend by constructing luxury properties with world-class facilities. The Arbour is a prime example of this, with DLF's success setting a new standard for luxury living. The luxury property market in India is set to continue to grow in the years to come, providing both developers and buyers with lucrative investment opportunities.
The number of high net-worth individuals (HNIs) in India is projected to increase by 63% from 2020 to 2025 to 1.02,000. With high disposable incomes, these individuals are ready to invest in high-end properties that provide a high quality of life.
Nowadays, more and more families are willing to shell out hundreds of thousands of dollars to purchase high-end homes that provide unrivaled comfort and convenience.
Rise in Smart Home Is Expected To Drive The Market
In today’s world of cutting-edge technology, the term ‘smart home’ has come to mean ‘connected home.’ As IoT devices and smart automation systems become more commonplace, smart home technologies are playing an increasingly important role in transforming the real estate market.
Investing in smart home technology may seem like a no-brainer in today’s market, where inflation rates are at an all-time high and interest rates are once again on the rise.
Nearly 13 million smart homes were installed in India in 2022. Another 12.84% of smart home solutions are expected to be in use by 2025. While the penetration rate of smart home devices is lower in India than in Western countries, the COVID-19 pandemic has helped shift the mindset from convenience to necessity when it comes to connected devices. This segment is further supported by the increasing popularity of Working Fixtures (WFH) and Hybrid Working Models (HWM).
India Luxury Residential Real Estate Industry Overview
India's luxury residential real estate market is competitive with the presence of private and government players. The Indian luxury residential Real estate market can be defined as a semi-consolidated market. Some of the top players in this market are Indiabulls Real Estate, Oberoi Realty, Brigade Group, Godrej Properties, and Oxame. The growing presence of international funds and foreign capital is increasingly attracting domestic developers to have joint ventures to gain a foothold in the country and enhance their financial strength and management expertise.
Post the pandemic, the luxury housing market has reported significant traction; buyers are responding favorably to residential purchases across segments as sale prices have corrected in the last few quarters, making real estate investment attractive, especially in the premium segment.
India Luxury Residential Real Estate Market Leaders
-
Indiabulls Real Estate
-
Oberoi Realty
-
Brigade group
-
Godrej properties
-
Omaxe
*Disclaimer: Major Players sorted in no particular order
India Luxury Residential Real Estate Market News
- March 2023: In 72 hours, DLF sold a USD 1 billion luxury residential project, while its rival, Godrej Properties, is offering USD 3 million apartments to invite-only clients in two off-plan deals that signal a revival in luxury real estate.
- February 2023: Oberoi Realty has acquired a penthouse in a high-end project called Three Sixty West, developed by Oberoi Realty in association with Sahana Group. The project is located on Dr. Annie Besant Road, in the heart of Mumbai’s poshest Worli locality. Oberoi Realty purchased a penthouse in Three Sixty West for INR 230,55 crore. (USD 278 Million )
India Luxury Residential Real Estate Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Deliverables
- 1.2 Study Assumptions
- 1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
-
4.2 Market Dynamics
- 4.2.1 Market Drivers
- 4.2.1.1 Rapid Urbanization and Changing Lifestyle
- 4.2.1.2 Improved Infrastructure
- 4.2.2 Market Restraints
- 4.2.2.1 Rising Construction Cost
- 4.2.3 Market Opportunities
- 4.2.3.1 NRI boost the Luxury Property
- 4.3 Insights into Technological Innovation in the Luxary Residential Real Estate Sector
- 4.4 Government Regulations and Initiatives
- 4.5 Value Chain / Supply Chain Analysis
-
4.6 Porter's Five Forces Analysis
- 4.6.1 Threat of New Entrants
- 4.6.2 Bargaining Power of Buyers/Consumers
- 4.6.3 Bargaining Power of Suppliers
- 4.6.4 Threat of Substitute Products
- 4.6.5 Intensity of Competitive Rivalry
- 4.7 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
-
5.1 By Type
- 5.1.1 Villas and Landed Houses
- 5.1.2 Apartments and Condominiums
-
5.2 By Cities
- 5.2.1 New Delhi
- 5.2.2 Mumbai
- 5.2.3 Kolkata
- 5.2.4 Bengaluru
- 5.2.5 Chennai
- 5.2.6 Other Cities
6. COMPETITIVE LANDSCAPE
- 6.1 Overview (Market Concentration and Major Players)
-
6.2 Company Profiles
- 6.2.1 Indiabulls Real Estate
- 6.2.2 Oberoi Realty
- 6.2.3 Godrej properties
- 6.2.4 Brigade Group
- 6.2.5 Omaxe
- 6.2.6 Sunteck Realty
- 6.2.7 The Pheonix Mills
- 6.2.8 Mahindra Lifespaces
- 6.2.9 Lodha Group
- 6.2.10 Prestige Group
- 6.2.11 Sotheby's International Reality
- 6.2.12 DLF India
- 6.2.13 Panchshil Realty*
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. APPENDIX
** Subject To AvailablityIndia Luxury Residential Real Estate Industry Segmentation
Luxury residential real estate refers to properties exclusively designed for human occupation, providing charmed resort-like living with high-end amenities.
The report provides a comprehensive background analysis of the Indian luxury residential real estate market, covering the current market trends, restraints, technological updates, and detailed information on various segments and the industry's competitive landscape. Additionally, the COVID-19 impact has been incorporated and considered during the study.
The Indian luxury residential real estate market is segmented by type (villas, landed houses, apartments, and condominiums) and cities (New Delhi, Mumbai, Bengaluru, Kolkata, Chennai, and Other Cities ). The report offers market size and forecasts in value (USD) for all the segments mentioned above.
| By Type | Villas and Landed Houses |
| Apartments and Condominiums | |
| By Cities | New Delhi |
| Mumbai | |
| Kolkata | |
| Bengaluru | |
| Chennai | |
| Other Cities |
India Luxury Residential Real Estate Market Research FAQs
How big is the India Luxury Residential Real Estate Market?
The India Luxury Residential Real Estate Market size is expected to reach USD 38.02 billion in 2024 and grow at a CAGR of 21.81% to reach USD 101.92 billion by 2029.
What is the current India Luxury Residential Real Estate Market size?
In 2024, the India Luxury Residential Real Estate Market size is expected to reach USD 38.02 billion.
Who are the key players in India Luxury Residential Real Estate Market?
Indiabulls Real Estate, Oberoi Realty, Brigade group, Godrej properties and Omaxe are the major companies operating in the India Luxury Residential Real Estate Market.
What years does this India Luxury Residential Real Estate Market cover, and what was the market size in 2023?
In 2023, the India Luxury Residential Real Estate Market size was estimated at USD 31.21 billion. The report covers the India Luxury Residential Real Estate Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the India Luxury Residential Real Estate Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Luxury Residential Real Estate in India Industry Report
Statistics for the 2024 Luxury Residential Real Estate in India market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Luxury Residential Real Estate in India analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
