Luxury Living Trends: What Indian Homebuyers are Looking for in 2024

Indian homebuyers in 2024-25 are shaping luxury living trends in India, focusing on wellness, sustainability, low-density living, and smart technology – reflecting a shift towards spacious opulence.

Luxury living trends in India are evolving rapidly, reflecting the changing aspirations and preferences of HNIs. The desire for opulent homes now extends beyond aesthetics – emphasising well-being, sustainability, and cutting-edge technology. As we look into 2024-25, luxury homebuyers are seeking residences that offer both exclusivity and holistic living – driving the demand for opulent residences.

Overview of the Indian Luxury Housing Market in 2024-25

The luxury housing market in India continues to thrive, experiencing sustained growth across major cities. In 2023, homes priced above ₹1 crore made up 41% of total residential sales, a significant jump from 31% in 2022. This increase is driven by changing lifestyle preferences, rising disposable income among HNIs, and growing interest from NRIs.

Luxury property sales across the top 7 cities – Mumbai, Delhi-NCR, Bangalore, Pune, Hyderabad, Chennai, and Kolkata – saw a 27% increase, reflecting strong demand. Mumbai leads this growth, contributing nearly 23% to the luxury segment, followed by Delhi-NCR and Bangalore. These cities have witnessed a rise in both new launches and absorption rates of luxury units – driven by the demand for expansive, well-designed homes with premium amenities.

Tier II cities like Pune and Hyderabad are emerging as key players in the luxury housing market in India, supported by rapid urbanisation and infrastructure development. The segment has evolved beyond traditional luxury offerings, incorporating features such as smart home technologies, private terraces, and eco-friendly amenities. Factors like improved connectivity, government incentives for sustainable development, and the development of business districts have further fuelled demand.

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The trend towards luxury homes that integrate comfort, exclusivity, and sustainability is evident in the growing popularity of gated communities, villa developments, and mixed-use luxury projects. The market has become more resilient, as it remains less susceptible to interest rate fluctuations compared to the mid-range segment – making it a stable investment choice for affluent buyers.

5 Key Luxury Living Trends in India

The luxury living trends in India for 2024-25 reflect a shift towards a more holistic and personalised approach to opulence. Buyers are now prioritising residences that offer wellness-centric designs, advanced technology, and low-density living.

1. Low-density Developments
   

   One of the most significant trends is low-density living, where developments are designed with fewer units per acre, providing residents with more privacy, green spaces, and tranquillity. This trend is driven by the desire for exclusivity and enhanced safety, as well as a growing focus on wellness. Low-density projects often feature larger plots, private gardens, and expansive balconies – catering to buyers who seek both comfort and spaciousness.

2. Smart Home Technology

   This has become a standard feature in luxury residences. Developers are now offering homes equipped with IoT-enabled systems that allow residents to remotely control lighting, temperature, and security. Voice-activated systems, app-controlled appliances, and AI-enhanced security systems are key components of these smart homes. Buyers see this as essential, aligning with modern luxury living trends in India – where convenience and safety are top priorities.

3. Wellness-centric Designs

   A focus on well-being has become integral to the luxury living trends in India. New developments now offer wellness-centric features like meditation rooms, spa-like bathrooms, jogging tracks, yoga decks, and open green spaces. Additionally, many luxury projects incorporate eco-friendly materials, energy-efficient designs, and water-saving solutions – catering to the increasing demand for sustainable living.

4. Personalised Luxury

   Today’s luxury buyers are looking for homes that reflect their personal tastes and preferences. Developers are responding with tailor-made options – allowing buyers to choose bespoke fittings, customise interiors, and even personalise layouts. This trend is not just about aesthetics, but also about functionality, as luxury buyers demand flexible spaces that can serve multiple purposes – like home offices, personal gyms, or private cinemas.

5. Mixed-use Luxury Projects

   The market is also seeing the rise of mixed-use developments that combine residential, commercial, and retail spaces in one project. These offer the convenience of living close to workspaces, high-end shopping avenues, and fine dining destinations – making them highly attractive to luxury buyers. They cater to the trend of convenience-focused living, where residents can access a host of services without stepping out of their gated communities.

What Makes a Home Look Luxurious?

A luxurious home is characterised by the perfect blend of sophisticated design, premium materials, and thoughtful amenities. Spacious layouts with high ceilings, expansive windows, and natural light create an inviting, opulent atmosphere. The use of high-quality materials such as Italian marble, hardwood flooring, and bespoke fittings adds to the grandeur.

Additionally, features like private pools, landscaped gardens, home theatres, and wine cellars elevate the sense of exclusivity. Integrating advanced smart home technology and bespoke interior design elements further enhances the luxurious feel, making the home not just visually appealing but also functionally superior.

Fastest Growing Real Estate Markets in India for Luxury Homes

The luxury housing market in India is thriving, with cities like Mumbai, Delhi-NCR, and Bangalore leading the segment. Mumbai’s luxury housing market witnessed 60% growth in sales over the past year, while Bangalore recorded a 48% increase. Delhi-NCR also experienced a 55% rise in high-value transactions in 2023.

These cities represent India’s fastest-growing markets – driven by increased urbanisation, economic growth, and evolving aspirations. The luxury living trends in India are further shaping these markets, with affluent buyers preferring larger spaces, exclusive amenities, and top-tier facilities.

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The Role of Luxury Real Estate Companies in India

By offering exclusive, high-quality developments that meet the evolving needs of elite buyers, certain real estate players have become instrumental in shaping the luxury housing market in India. Companies like SOBHA Limited have set benchmarks in this sector, with projects that blend sophistication, innovation, and sustainability. SOBHA has consistently introduced projects that offer world-class quality, thoughtful designs, extensive green spaces, and a focus on wellness features like meditation zones, yoga decks, and spa-inspired facilities.

These developers are not only creating opulent residences, but also integrating advanced technologies like IoT-enabled smart homes, voice-controlled lighting systems, and energy-efficient infrastructure. The emphasis is on eco-friendly materials, rainwater harvesting, and waste management systems – aligning with luxury living trends in India that promote sustainable living.

Additionally, luxury real estate companies are enhancing the buying experience through virtual reality property tours, personalised concierge services, and flexible floor plans that allow customisation. This adaptability reflects their commitment to providing a seamless blend of luxury and functionality, catering to the discerning tastes of HNIs, NRIs, expats, and senior professionals.

Why is India’s Luxury Residential Market Seeing a Significant Increase in Demand?

India’s luxury residential market is witnessing a surge in demand due to multiple factors, including a growing base of HNIs, increasing NRI investments, and a post-pandemic shift towards low-density, spacious living.

In 2023, the luxury housing market in India recorded 27% rise in sales across the top 7 cities, driven by the need for expansive, health-focused amenities and privacy-oriented designs. This surge is evident in cities like Mumbai, Delhi-NCR, and Bangalore, where demand has been strongest. Many economic and social factors contribute to this trend. Rising wealth among India’s upper-middle class and favourable exchange rates for NRIs have prompted increased investment in luxury homes as a stable asset class.

Focus on wellness-centric living has pushed buyers to seek properties with private outdoor spaces, swimming pools, home offices, and gyms. The demand for smart homes equipped with automation, voice-activated systems, and advanced security is also on the rise. These preferences align with the luxury living trends in India, making high-end properties more appealing than ever.

Market Forecast and Future of Luxury Real Estate in India

The luxury home market forecast in India remains positive, with expectations of sustained growth driven by increased demand for high-value residences in major cities. The luxury housing market in India is projected to achieve a CAGR of 8-10% over the next 2 years, indicating strong momentum. Trends like low-density developments, sustainability, and smart technology will continue shaping the luxury living trends in India in the coming years.

Expected Growth Rate

The real estate CAGR in India for the luxury segment is projected at 8-10% from 2024 to 2025. The luxury housing market in India will benefit from increasing urbanisation, economic recovery, and strong interest from HNIs.

Trends Shaping the Luxury Market in the Next 2-3 Years

Luxury living trends in India will be influenced by wellness-centric designs, integration of smart technology, and eco-friendly features. Discerning buyers will favour homes offering wellness amenities, expansive green spaces, and tech-driven conveniences.

Economic Factors Influencing Luxury Housing

Despite inflation and interest rate fluctuations, the luxury housing market in India remains resilient. Wealthy buyers tend to invest in opulent homes as a hedge against inflation, reinforcing the luxury living trends in India.

Latest News and Developments in the Indian Luxury Real Estate Market

The luxury real estate market in India continues to make headlines with record-breaking sales, contributing significantly to the luxury housing market trends. Driven by wellness features, sustainable designs, and smart amenities, Mumbai, Delhi-NCR, and Bangalore have seen strong demand. The luxury housing market in India is also witnessing increased interest from NRIs and HNIs.

Conclusion

The luxury housing market in India is poised for sustained growth, driven by evolving preferences and new trends. As developers like SOBHA innovate to exceed homebuyers’ expectations for opulence, wellness, and advanced technology, the market remains attractive. Luxury living trends in India will continue to redefine premium real estate with personalised designs, wellness features, and sustainable developments.

FAQs

1. Which is the most expensive housing market in India?

The most expensive housing market in India is Mumbai, particularly South Mumbai. Property prices here are among the highest nationwide, often exceeding ₹1 lakh per sq ft in prime localities.

2. What is the trend in luxury real estate in India?

Current trends in luxury real estate in India include a focus on wellness-oriented homes, integration of smart technology, sustainability, personalised living spaces, and increasing demand for amenities like private pools, gyms, and landscaped gardens.

3. What is the future of the luxury market in India?

The future of the luxury market in India is promising, with growth driven by rising disposable incomes, rapid urbanisation, and a shift in consumer preferences toward high-quality living spaces.

4. Which city in India has the most expensive houses?

Mumbai has the most expensive houses in India, especially in areas like Malabar Hill, Altamount Road, Peddar Road, Bandra, and Juhu, where luxury residences can command very high prices.

5. Which city in India has the fastest-growing real estate market?

Cities like Bangalore and Hyderabad have the fastest-growing real estate markets in India, driven by IT developments, infrastructure enhancements, and an influx of young professionals.

6. How much does a luxury house cost in India?

A luxury house in India can cost ₹2 cr to ₹100 cr & above – depending on size, configuration, design, location, amenities, and features.

7. Is the luxury real estate market booming in India?

Yes, the luxury real estate market in India is currently booming, fuelled by rising demand from HNIs & NRIs, and increased urban wealth.

8. What are the most expensive housing societies in India?

Some of the most expensive housing societies in India are Central Park Resorts in Gurgaon, The Park in Mumbai, and The 42 in Kolkata – that are known for world-class amenities and services.

9. Which state has the most expensive houses in India?

Maharashtra has the most expensive houses in India, especially in the city of Mumbai. States like Delhi and Karnataka also feature high-value properties in select prime areas.

10. What features define a luxury house in India?

Features that define a luxury house in India include spacious layouts, high-quality materials, prime locations, sophisticated designs, advanced technology features, and amenities like home theatres, private pools, and landscaped gardens.