Embassy Group Sees Big Growth in India's Mid-Segment Housing

Jitu Virwani, Chairman of Embassy Group, believes India’s next major real estate opportunity lies in mid-segment housing, not luxury.

As urbanization accelerates, Virwani predicts India’s real estate sector is still in its early stages, with explosive growth ahead. Citing Morgan Stanley, he noted the disruptive impact of 5 million super-rich Indians on the luxury market and warned of the exponential impact when 20 million more move into that segment. While Embassy Group will pursue selective luxury developments, its focus will increasingly be on mid-income housing to meet real demand.

Key Highlights

• Jitu Virwani says mid-segment housing holds India’s biggest real estate opportunity.
• Aditya Virwani sees institutionalization reshaping commercial real estate.
• India’s urbanization will drive long-term real estate growth across segments.

In a CNBC-TV18 interview, he noted that while luxury properties have seen tremendous attention, it’s the mid-income segment that remains significantly underserved and highly viable. “People are always looking at the luxury market, but it's the mid-segment which has got such a big gap till today,” Virwani said.

Aditya Virwani, Managing Director, emphasized the changing landscape of commercial real estate, especially the decline of strata-sold Grade B offices. He pointed to the rise of institutional ownership and REITs, along with increased design and user experience focus, as signs of a maturing industry.

Also Read: Embassy to Launch New Housing Project on 18 Acres in Bengaluru

Both leaders credit generational change and global exposure for the sector's modernization. The Embassy Group’s legacy now transitions into a future shaped by scale, quality, and smarter urban development.