The India luxury residential real estate market was valued at USD 36.73 Billion in 2024. The industry is expected to grow at a CAGR of 20.10% during the forecast period of 2025-2034. The expansion of wealthy population, rapid urbanisation, emergence of smart homes, and rise in housing projects have resulted in the market likely attaining a valuation of USD 229.32 Billion by 2034.
Base Year
Historical Period
Forecast Period
The rapid rate of urbanisation and increasing levels of household incomes are the major factors influencing the India luxury residential real estate market. According to industry reports, India’s towns and cities will be home to 40% of the population or 600 million people by 2036.
The rising collaborations between real estate developers and renowned interior designers will prove favourable for the industry expansion. In December 2023, London-based global design brand YOO Worldwide entered into a partnership with luxury real estate advisory firm SQUAREA to market branded residences for luxury as well as hospitality developers in East India.
The expansion of the wealthy population and their robust abilities to invest in luxury properties will drive the India luxury residential real estate market growth. As per industry reports, the number of high net-worth individuals (HNWIs) in India, with assets exceeding USD 10 million, is expected to increase to an estimated 93,753 by 2028.
Compound Annual Growth Rate
20.1%
Value in USD Billion
2025-2034
India Luxury Residential Real Estate Market Outlook
*this image is indicative*
|
India Luxury Residential Real Estate Market Report Summary |
Description |
Value |
|
Base Year |
USD Billion |
2024 |
|
Historical Period |
USD Billion |
2018-2024 |
|
Forecast Period |
USD Billion |
2025-2034 |
|
Market Size 2024 |
USD Billion |
36.73 |
|
Market Size 2034 |
USD Billion |
229.32 |
|
CAGR 2018-2024 |
Percentage |
XX% |
|
CAGR 2025-2034 |
Percentage |
20.10% |
|
CAGR 2025-2034 - Market by Region |
South India |
22.9% |
|
CAGR 2025-2034 - Market by Region |
East India |
21.5% |
|
CAGR 2025-2034 - Market by Type |
Apartments and Condominiums |
26.4% |
|
CAGR 2025-2034 - Market by Region |
East India |
17.3% |
Luxury homes and rise in wealthy population to favour market growth
The increasing number of high-net-worth individuals (HNWIs) as well as ultra-high-net-worth individuals (UHNWIs) will impact the India luxury residential real estate market. With a high net worth, these individuals are willing to pay a premium price for luxury homes that render exclusivity, privacy, and several high-end amenities. According to Sotheby’s International Realty’s Luxury Outlook 2024, 71% of India's affluent individuals expressed intentions to purchase luxury real estate within the next 12 to 24 months, driven primarily by prospects of capital appreciation and lifestyle enhancements. The rise in ultra-luxury projects is another important driver for the market growth. In October 2024, DLF disclosed that it was set to launch ‘The Dahlias’, the country’s most expensive residential real estate project in Gurugram.
The India luxury residential real estate market share will be influenced by the increasing luxury housing sales, smart home integration, rise in housing projects, and emergence of smart city initiatives.
The rising sales of luxury housing units underscored by the fundamental shift in consumer perception of homeownership and the interest in high-end living will boost the India luxury residential real estate market development. According to industry reports, nearly 12,900 luxury homes were sold in India in 2023. Meanwhile, the number of sales in 2024 jumped to 19,700 units, with Delhi-NCR leading the landscape.
The India luxury residential real estate industry growth is driven by the growing penetration of smart homes to offer homeowners the benefits of controlling appliances and devices remotely through an internet connection. This shift can be attributed to changing consumer preferences, rapid technological advancements, and strong focus on sustainability and convenience. According to industry reports, the India's smart home market is expected to grow to Rs 36,000 crore by 2028.
The surge in the number of luxury housing projects driven by the massive improvements in infrastructure development will boost the India luxury residential real estate market share. According to industry reports, around 15,900 luxury units were launched in 2023 and nearly 24,180 units were introduced in 2024. Most prominent Grade A luxury house developers are also levelling up their ultra-luxury inventory in response to the surging demand.
The India luxury residential real estate industry outlook will be impacted by the rise in the number of smart cities and the growing appreciation for property values. In October 2024, as part of the ‘Smart Cities Mission’ to boost affordable housing, Rustomjee Group strategically expanded its presence in the luxury real estate sector to focus on prime micro-markets, including Chembur, Mahim, Bandra West, and the Versova seafront.
Government support and senior living projects to gain prominence
The India luxury residential real estate industry is poised for expansion due to the rising government support to encourage developers in building high-end projects. Indian real estate firms are also diversifying their portfolios for including ultra-luxury projects as they capitalise on up ticking the demand for opulent apartments mainly amongst the new-generation entrepreneurs. The growing number of senior living projects will also drive the overall market development. In April 2025, PioneerUrban Land partnered with Infrastructure Ltd. for investing close to INR 300 crore for a new project ‘Advait’ in Gurugram to foray into luxury residential senior living space.
Popularity of branded residences and green buildings to be major growth drivers
The growing focus on eco-friendly city planning to promote cleaner and healthy lifestyles will add impetus to the India luxury residential real estate market revenue. The real estate sector is witnessing higher dominance of green buildings by adopting eco-friendly practices as well as embracing broader approaches to sustainability. In October 2024, the Indian Green Building Council (IGBC) announced its goal of achieving 10 billion sq. ft. of green buildings across India in the next decade. The soaring popularity of branded residences as a highly profitable and desirable domain for real estate developers and brands has further captured the attention of non-resident Indians (NRIs). According to industry reports, NRIs recorded 23% of DLF’s total sales in 2024.
The EMR’s report titled “India Luxury Residential Real Estate Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:
Breakup by Type
Breakup by Region
By type, luxury apartments and condominiums to gain traction
According to the India luxury residential real estate market analysis, the preference for luxury villas has grown largely as they provide expansive living areas as well as private outdoor spaces whilst ensuring an exclusive residential experience. In July 2024, DLF declared its plans of introducing 62 ultra luxury villas across Goa priced between INR 40 crore and INR 50 crore during the second half of 2024-2025.
Meanwhile, luxury apartments and condominiums are gaining significant traction for their premium finishes, high-end amenities, and prime location. Luxury apartments offer generous living areas, with multiple bathrooms, bedrooms as well as expansive living and dining rooms. The robust security and premium construction materials of luxury condominiums will also influence the segment growth.
|
CAGR 2025-2034 - Market by |
Region |
|
South India |
22.9% |
|
East India |
21.5% |
|
West India |
XX% |
|
North India |
XX% |
South India to witness higher presence with rise in urban living
The luxury residential real estate demand in South India is favoured by the continued expansion of the technology industry. Significant efforts are undertaken across the region for redefining urban living with thoughtful designs and premium amenities. In April 2025, Casagrand launched its fourth major development in Hyderabad, Casagrand GS Infinity, for strengthening its presence in the city’s residential market. Such initiatives will boost the regional market penetration.
Additionally, the emerging trend of premium living, high-end interiors and prime locations will boost the North India luxury residential real estate market. This region is witnessing significant strides in India’s luxury real estate, with excellent infrastructure, and a wide range of upscale residential options. According to industry reports, Gurugram was a key contributor to Delhi-NCR’s luxury housing, accounting for a 64% share of luxury residential launches amongst India’s top cities in 2024.
The growth of the West India luxury residential real estate industry can be attributed to enhanced connectivity to suburban locations as well as sister cities along with the redevelopment in core city areas. The surge in celebrity homes, and ultra-high-net-worth individuals will boost the regional market growth. In October 2024, a new entrant in ultra-luxury villas, Iraah Lifespaces launched bespoke properties in Alibaug and Lonavala, Maharashtra’s most sought-after destinations.
Leading players in the India luxury residential real estate industry are placing targeted efforts on partnership strategies to cater to a wide customer base. They are also eyeing expansion and investment initiatives to gain competitive edges.
Founded in 1987 and headquartered in New Delhi in India, Omaxe is a renowned real estate business company. Omaxe has been relentlessly providing world-class services in real estate with a varied portfolio of integrated and high-tech townships and group housings.
Founded in 1998 and headquartered in Mumbai, Oberoi Realty is a public limited real estate development firm. The company boasts a diverse portfolio of projects spanning the office space, residential, retail, hospitality and social infrastructure segments of the real estate.
Founded in 1946 and headquartered in Gurugram, DLF India is a leading Indian commercial real estate development company. DLF has been developing and selling residential and commercial properties while also generating revenue from power generation, leasing, and various maintenance and recreational services related to its real estate projects.
Founded in 1986 and headquartered in Bengaluru, Brigade Group is an Indian real estate and property development company. Brigade Group, committed to sculpting India's real estate landscape, offers property management services, hospitality and education across several major cities in South India.
*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*
Other players in the India luxury residential real estate market report include Panchshil Realty, Lodha Group, Godrej Properties Limited, Hiranandani Constructions Pvt.Ltd, Mahindra Lifespace Developers Ltd., Sunteck Realty Limited and others.
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2024, the market reached an approximate value of USD 36.73 Billion.
The market is projected to grow at a CAGR of 20.10% between 2025 and 2034.
The key strategies of the market are the growth of wealthy population, emergence of smart homes, rise in housing projects and eco-friendly city planning.
West India is the leading region due to the surge in celebrity homes, and the presence of ultra-high-net-worth individuals.
The major players in the market are Omaxe Ltd., Oberoi Realty Ltd, DLF India, Brigade Group, Panchshil Realty, Lodha Group, Godrej Properties Limited, Hiranandani Constructions Pvt.Ltd, Mahindra Lifespace Developers Ltd., Sunteck Realty Limited and others.
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2024 |
| Historical Period | 2018-2024 |
| Forecast Period | 2025-2034 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Type |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
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