India's Home Interiors Market Set to Hit $24.52 Billion by 2030

Magicbricks, India’s leading online real estate platform, today unveiled the Research, titled "Beyond Walls: Trends & Projections in India's Home Interiors Market," reveals that India's home interiors market is set for a period of rapid expansion.

The market is currently valued at USD 12.33 billion and is projected to reach USD 24.52 billion by 2030, growing at a compound annual growth rate (CAGR) of approximately 12 percent. This significant growth is fuelled by rising disposable incomes, rapid urbanization, and a growing consumer desire for personalized living spaces.

Key Highlights

• Well-designed interiors are a major driver of value, with the potential to boost property resale values by up to 70 percent and command rental premiums of up to 45 percent.
• 80 percent of homeowners are opting for comprehensive solutions like Full Home Design (FHD)

The research highlights the significant value that home interiors add to real estate. According to the report, a well-designed interior can increase a property's resale value by up to 70 percent and secure rental premiums of up to 45 percent. The market's demand is heavily concentrated in 2 and 3 BHK units, which make up 95 percent of the market. Mid-sized homes (750-2,000 sq. ft.) and properties with a ticket size of Rs. 2-5 crore are the most popular segments, representing 49 percent of market demand.

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“India’s homeowners are increasingly viewing interiors as a strategic investment and what excites us is how rapidly the interiors market is formalising & growing. With rising demand for full-home design solutions, we are witnessing a shift from unorganised players to structured, tech-enabled platforms like never before. At Magicbricks, we are working with more than 150 brand partners to deliver bespoke solutions to our users. Our recently organised Interiors Expo fest received overwhelming response which further underlines the appetite for such innovations,” said Sudhir Pai, Chief Executive Officer, Magicbricks.

The report also provides a detailed breakdown of consumer spending habits. The average spend on home interiors across India is Rs. 560 per square foot. Delhi NCR leads the way with an average spend of Rs. 580 per square foot, followed by Bengaluru at Rs. 520 and Hyderabad at Rs. 490. A closer look at spending priorities shows that bedrooms and kitchens are the most significant investment areas for consumers, collectively accounting for 54 percent of total expenditure. The trend of opting for a complete solution, known as Full Home Design (FHD), is also gaining momentum, with over 80 percent of the demand now for these comprehensive solutions.

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While Tier 1 cities like MMR, NCR, Bengaluru, and Pune are the main drivers of the market, the report notes a rising interest in home interiors from Tier 2 cities. The report serves as a valuable resource for stakeholders including homeowners, developers, and designers, providing data-driven insights to navigate and capitalize on the trends shaping this vibrant and evolving market.