Rise of Premium & Luxury Housing: Above INR 1 Crore

The residential real estate market is structurally changing and the premium housing segment and the luxury housing India category have become the strongest segments in terms of growth.

The houses costing more than INR 1 crore, which used to be a niche, are currently taking an increasing proportion in the new launches and sales across large cities. What was initially a recovery after the pandemic has turned into a momentum to continue, transforming the luxury property market in India.

Infrastructure as a Catalyst

The luxury housing demand cannot be overstated by the effect of infrastructure on the housing demand. Metro city luxury housing has been extended to more territories with the metro rail extensions, expressway, airport development and commercial centres. In Mumbai Metropolitan Region, Delhi NCR, Bengaluru and Hyderabad, branded residences in India and high-rise luxury apartments are witnessing increased traction in the peripheral zones.

The enhanced connectivity lowers commuting time, thereby increasing the feasibility of suburban luxury developments. This has also favoured increasing real estate absorption in micro-markets that are emerging.

“Apartments priced above Rs 1 crore accounted for around 62% of total residential sales, reflecting rising buyer affluence and evolving lifestyle aspirations.”  - Samantak Das, Chief Economist & Head of Research, JLL India

City-based Momentum in Luxury Real Estate

Luxury Housing Mumbai:

Mumbai remains a market leader in the ultra-luxury market when it comes to prime areas and developments by sea. But the periphery luxurious avenues are also emerging in prominence because of affordability and the modernization of infrastructure.