India's Millionaires: Luxury Real Estate, Rolex, and Global Aspirations
Explore how India's millionaires are spending their wealth on luxury real estate, high-end watches, and global travel, while also diversifying their investments and focusing on social responsibility.
Luxury Real EstateHighnetworthIndia MillionairesRolexGlobal InvestmentReal Estate MumbaiSep 19, 2025
India now boasts 8,71,700 millionaire households (net worth ≥ INR8.5Cr), up 90% from 2021. Analysts at Hurun note that the rich are no longer focused only on traditional status symbols such as jewelry and cars but are diversifying their wealth into lifestyle upgrades and global aspirations.
Luxury Homes & Real Estate
High-net-worth individuals (HNIs) continue to favor luxury real estate in Mumbai, Delhi, and Bengaluru, with second homes in Goa and the Himalayas also gaining traction. Investment in holiday villas and branded residences has grown, as families seek both lifestyle value and asset appreciation.
Banking Preferences
HDFC Bank has been voted as the most preferred Indian private bank, while Citibank is rated the top international private bank in the Mercedes-Benz Hurun India Luxury Consumer Survey 2025.
Top Investment Classes
Stock, real estate, and gold remain the top asset choices. 51% of survey respondents expect Indian real estate to grow in the next two years, while 38% believe it will remain stable.
Preferred Global Cities
Mumbai tops the list of the most important global cities for the next decade, with 31% of respondents, according to the Mercedes-Benz Hurun India Wealth Report 2025, underscoring its rising global significance.
Digital Payment Dominance
UPI apps (35%) have overtaken cards and cash as the preferred payment method, showing the growing tilt toward digital convenience in luxury transactions.
Investment Strategies
While 29% actively manage their investments, only 17% are risk-takers, 15% are passive investors, and 31% remain cautious, indicating a shift toward conservative financial planning.
Overseas Investment
The USA (19%) remains the top global investment destination, followed by the UAE, with several respondents opting for a diversified international portfolio.
Jewellery Preferences
Despite growing awareness of lab-grown alternatives, 75% still prefer natural diamonds for their legacy and authenticity. Tanishq remains the most preferred jewellery retailer. Internationally, Tiffany & Co. ranks as the most preferred jewellery brand, underscoring the enduring global allure of fine jewellery labels. CaratLane.com leads among online jewellery platforms.
Watches & Accessories
Rolex leads in luxury watches. Gucci and Louis Vuitton top the list in accessories.
Luxury Travel & Hotels
The Mercedes-Benz Hurun India Luxury Consumer Survey 2025 finds Emirates the airline of choice for luxury travel. Taj Hotels lead among hospitality brands.
Gifting Trends
As revealed in the Mercedes-Benz Hurun India Luxury Consumer Survey 2025, watches are the most popular gift for men (43%), and jewellery for women (50%). Toys (51%) are preferred for children, while health products dominate gifting for the elderly—highlighting thoughtful and practical choices.
Car Ownership
The Mercedes-Benz Hurun India Luxury Consumer Survey 2025 reports that 55% of respondents own more than one car, with around 40% upgrading every 3–6 years, and around 40% holding for longer than six years, showing a preference for both value and utility.
Hobbies & Lifestyle
According to the Mercedes-Benz Hurun India Luxury Consumer Survey 2025, travel (45%) is the top hobby, followed by reading and cooking. These hobbies reflect a lifestyle driven by experiences and enrichment. Yoga (27%) is the most preferred fitness activity.
Digital Influence
The Mercedes-Benz Hurun India Luxury Consumer Survey 2025 highlights that social media (36%) has overtaken traditional media as the leading news source, indicating the growing impact of digital platforms among the wealthy.
Happiness & Well-being
More than 60% of respondents rate themselves 8 or higher on a 10-point happiness scale in the Mercedes-Benz Hurun India Luxury Consumer Survey 2025, reflecting intense personal and professional satisfaction.
Financial Freedom
When asked what amount is “enough” to feel financially free, the Mercedes-Benz Hurun India Luxury Consumer Survey 2025 found 27% citing Rs 50Cr, 25% saying Rs 10Cr, and 20% setting the benchmark at Rs 200Cr—showcasing diverse aspirations among respondents.
Spending Behaviour
The Mercedes-Benz Hurun India Luxury Consumer Survey 2025 reveals that 60% report annual household consumption under INR1Cr, indicating relatively moderate consumption patterns. Tourism (32%), education (27%), and entertainment (22%) emerge as the top spending categories.
Social Responsibility
According to the Mercedes-Benz Hurun India Luxury Consumer Survey 2025, paying taxes (30%) is viewed as the most responsible act, followed by supporting environmental causes (20%) and engaging in charity (17%).
Luxury Cruises
Oceania Cruises (19%) ranks highest among international luxury cruise lines, as per the Mercedes-Benz Hurun India Luxury Consumer Survey 2025.
Education Abroad
The Mercedes-Benz Hurun India Luxury Consumer Survey 2025 finds that the USA (19%) is the most preferred destination for overseas education, followed by the UK (14%). However, 42% of respondents stated they do not plan to send their children abroad.
Between 2017 and 2025, the number of Indians surpassing the symbolic $1 million mark (Rs 8.5Cr) grew by 445%, while those exceeding Rs 10 crore (US$1.17Mn) rose by over 200%. This surge reflects India’s rapidly expanding affluent base, driven by strong equity markets, entrepreneurship, and urban economic growth.
At the same time, upward mobility into the ultra-high-net-worth (UHNW) brackets was more selective. Roughly 5% of 2017 millionaires crossed into the INR100Cr (US$12Mn) bracket, while only 1.3% reached Rs 200Cr (US$24Mn). Beyond this point, the pyramid narrows dramatically: just 0.07% of millionaires progressed to Rs 1,000Cr (US$120Mn) and a mere 0.01% became billionaires (US$1Bn+).
These findings underline a dual narrative: India produces millions of new millionaires, yet billionaire status remains extraordinarily rare, achievable only by a select few through global-scale enterprises, IPOs, or multi-generational wealth consolidation.
Frequently Asked Questions
What are the top investment classes for India's millionaires?
Stock, real estate, and gold remain the top asset choices for India's millionaires, with 51% of survey respondents expecting Indian real estate to grow in the next two years.
Which cities are preferred by India's millionaires for global importance?
Mumbai tops the list of the most important global cities for the next decade, with 31% of respondents, according to the Mercedes-Benz Hurun India Wealth Report 2025.
What are the preferred luxury watch brands among India's millionaires?
Rolex leads in luxury watches among India's millionaires, according to the Mercedes-Benz Hurun India Luxury Consumer Survey 2025.
What are the most popular hobbies among India's millionaires?
Travel (45%), reading, and cooking are the top hobbies among India's millionaires, reflecting a lifestyle driven by experiences and enrichment.
What is the most preferred international private bank for India's millionaires?
Citibank is rated the top international private bank in the Mercedes-Benz Hurun India Luxury Consumer Survey 2025.
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