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India Luxury Residential Real Estate Market Size (2024 - 2029)

The market size of the luxury residential real estate sector in India is experiencing significant growth, driven by increasing demand from affluent buyers seeking high-end properties with modern amenities and exquisite designs. This expansion is closely tied to urbanization and rising disposable incomes, which are reshaping lifestyle trends and preferences among wealthy individuals. The desire for homes that reflect personal style and offer unique features is propelling the market forward, as more people in urban areas gain the financial capability to invest in luxury properties.

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Market Size of India Luxury Residential Real Estate Industry

India Luxury Residential Real Estate Market Summary
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

India Luxury Residential Real Estate Major Players

*Disclaimer: Major Players sorted in no particular order

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 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
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India Luxury Residential Real Estate Market Size Summary

The luxury residential real estate market in India is experiencing significant growth, driven by increasing demand from affluent buyers seeking high-end properties with modern amenities and sophisticated designs. This trend is largely attributed to urbanization and rising disposable incomes, which have enabled more individuals to afford luxury homes. The market is characterized by a shift towards a more luxurious lifestyle, with buyers prioritizing unique designs, high-quality materials, and smart home technologies. The proliferation of smart home devices, spurred by the COVID-19 pandemic, has further transformed the market, making connected living spaces a desirable feature for many buyers. As a result, developers are capitalizing on this trend by constructing luxury properties that offer world-class facilities, creating lucrative investment opportunities for both developers and buyers.

The competitive landscape of India's luxury residential real estate market is marked by the presence of both private and government players, with key companies such as Indiabulls Real Estate, Oberoi Realty, Brigade Group, Godrej Properties, and Omaxe leading the charge. The market is semi-consolidated, with growing interest from international funds and foreign capital encouraging domestic developers to form joint ventures to enhance their market presence and financial strength. Post-pandemic, the luxury housing market has seen a resurgence, with buyers responding positively to residential purchases across segments as sale prices have become more attractive. This revival is evidenced by significant transactions, such as DLF's rapid sale of a luxury residential project and Godrej Properties' exclusive offerings, highlighting the market's potential for continued growth and investment.

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India Luxury Residential Real Estate Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Dynamics

      1. 1.2.1 Market Drivers

        1. 1.2.1.1 Rapid Urbanization and Changing Lifestyle

        2. 1.2.1.2 Improved Infrastructure

      2. 1.2.2 Market Restraints

        1. 1.2.2.1 Rising Construction Cost

      3. 1.2.3 Market Opportunities

        1. 1.2.3.1 NRI boost the Luxury Property

    3. 1.3 Insights into Technological Innovation in the Luxary Residential Real Estate Sector

    4. 1.4 Government Regulations and Initiatives

    5. 1.5 Value Chain / Supply Chain Analysis

    6. 1.6 Porter's Five Forces Analysis

      1. 1.6.1 Threat of New Entrants

      2. 1.6.2 Bargaining Power of Buyers/Consumers

      3. 1.6.3 Bargaining Power of Suppliers

      4. 1.6.4 Threat of Substitute Products

      5. 1.6.5 Intensity of Competitive Rivalry

    7. 1.7 Impact of COVID-19 on the Market

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Type

      1. 2.1.1 Villas and Landed Houses

      2. 2.1.2 Apartments and Condominiums

    2. 2.2 By Cities

      1. 2.2.1 New Delhi

      2. 2.2.2 Mumbai

      3. 2.2.3 Kolkata

      4. 2.2.4 Bengaluru

      5. 2.2.5 Chennai

      6. 2.2.6 Other Cities

India Luxury Residential Real Estate Market Size FAQs

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.

In 2024, the India Luxury Residential Real Estate Market size is expected to reach USD 38.02 billion.

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