India's Premium Real Estate Market Thrives as NRIs and HNIs Drive Demand
Mumbai remains the epicenter of India’s luxury real estate market, but other cities like Gurugram, Hyderabad, and Bangalore are rapidly catching up. Top developers are leading the way with high-quality projects that meet the evolving needs of affluent buyers.
Premium Real EstateLuxury HousingNrisHnisTop DevelopersReal Estate NewsJun 05, 2025
Market observers note that the ability of Grade A developers to attract premium buyers and investors, secure funding with ease, and execute large-scale projects efficiently positions them as key drivers of growth in the sector. As a result, these companies are well-placed to witness sustained expansion, enhanced market share, and long-term financial strength, further solidifying their leadership in India’s evolving real estate landscape.
The growing demand for premium and luxury housing is being effectively addressed by established, listed developers with a strong track record of timely delivery and compliance-driven operations. Sales of listed players have grown steadily over the years, driven by their compliance-based mechanisms. For instance, DLF, India’s largest listed real estate company, has recorded its highest-ever sales booking of Rs 21,223 crore in FY25, up 44 percent year-on-year (YoY) compared to Rs 14,778 crore in FY24. Similarly, in FY25, Godrej Properties reported sales of Rs 29,444 crore, marking a 31 percent YoY growth. Signature Global (India) Limited achieved pre-sales of Rs 10,209 crore, registering a 42 percent YoY increase, and Macrotech Developers recorded sales booking of Rs 17,630 crore, reflecting a 21 percent growth over the previous fiscal.
Experts say that these trusted brands are not only catering to the evolving expectations of affluent domestic buyers and NRIs but are also driving significant consolidation in the sector. By capturing a sizable portion of the real estate space, listed and established players are reshaping the market landscape and reinforcing their leadership positions. Ravi Aggarwal, Co-founder & Managing Director of Signature Global (India) Limited, stated that India’s real estate market has seen a strong rise in buyer confidence, especially towards branded developers with a solid track record.
“Over the years, NRIs and HNIs have emerged as key drivers of demand in the premium segment. With market consolidation gaining momentum and more buyers gravitating towards trusted real estate brands, investor sentiment is expected to remain strong,” Aggarwal said. He added that the Indian housing market continues to offer promising returns, and developers are aligning their offerings with the evolving aspirations of discerning buyers through projects that deliver both lifestyle and investment value.
Rahul Thomas, Whole Time Director of Suraj Estate Developers Limited, noted that the resurgence in India’s premium and luxury housing market is a direct result of evolved buyer behavior—particularly among NRIs and HNIs who are actively seeking secure, future-proof investments. “We have witnessed this shift first-hand, with a significant uptick in interest across our luxury portfolio in South-Central Mumbai. These buyers value more than just square footage; they are very clear with their requirements, looking for a legacy address, superior specifications, and privacy. We believe listed and compliance-driven developers are best positioned to meet this rising demand with transparency and trust,” he said.
Saurabh Runwal, Director of Runwal Realty, emphasized that the surge in premium and luxury real estate is a reflection of evolving buyer preferences—both among NRIs and HNIs. “This surge is being driven by what we call the 'credibility premium'. Buyers today want the assurance of delivery, regulatory compliance, and long-term value creation. Trusted developers with a track record of excellence are leading this transformation—and in the process, redefining what luxury living means in India,” he said.
While Mumbai continues to be the hub of India’s luxury real estate market, other metro cities like Gurugram, Hyderabad, and Bangalore are quickly rising as strong competitors, drawing a fresh wave of high-net-worth buyers and investors. Gurugram, in particular, has become a prime destination for luxury homes, with leading developers focusing on strategic locations like Southern Peripheral Road (SPR), Dwarka Expressway, New Gurugram, and South of Gurugram, which offer great connectivity and are growing into complete urban communities.
Ashok Kapur, Chairman of Krishna Group and Krisumi Corporation, highlighted that the surge in demand for premium properties, especially from HNIs and NRIs, is a clear testament to the strong shift in market sentiment towards quality living experiences. “Developers who recognize this trend are consistently aligning their offerings with the aspirations of discerning buyers who seek world-class design, timely delivery, and a lifestyle that is truly unmatched,” he said.
Frequently Asked Questions
Which cities are emerging as strong competitors to Mumbai in India's luxury real estate market?
Other metro cities like Gurugram, Hyderabad, and Bangalore are rapidly catching up with Mumbai in the luxury real estate market, attracting a fresh wave of high-net-worth buyers and investors.
What factors are driving the demand for premium and luxury housing in India?
The demand is driven by high-net-worth individuals (HNIs) and non-resident Indians (NRIs) who are seeking secure and high-yield investment opportunities, as well as a lifestyle that offers superior specifications and privacy.
How are top developers contributing to the growth of the premium real estate market?
Top developers with a strong track record of timely delivery and compliance-driven operations are effectively addressing the growing demand for premium and luxury housing. They are capturing a sizable portion of the market, driving consolidation, and reinforcing their leadership positions.
What is the 'credibility premium' mentioned by Saurabh Runwal, Director of Runwal Realty?
The 'credibility premium' refers to the assurance of delivery, regulatory compliance, and long-term value creation that buyers today seek. Trusted developers with a track record of excellence are leading this transformation and redefining what luxury living means in India.
What strategic locations in Gurugram are attracting luxury home buyers?
Strategic locations like Southern Peripheral Road (SPR), Dwarka Expressway, New Gurugram, and South of Gurugram are attracting luxury home buyers due to their great connectivity and growth into complete urban communities.
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