Luxury Housing in India: A Skyrocketing Market
India's ultra-wealthy are redefining luxury living, driving a meteoric rise in demand for opulent homes in cities like Kolkata, Gurugram, and Mumbai.
Luxury HousingIndiaReal EstateDlfGurugramKolkataMumbaiReal Estate NewsJul 26, 2024
Gurugram is also witnessing a surge in luxury housing demand, with transactions like the sale of an ultra-luxury flat spanning 11,000 sqft at The Camellias for a staggering 114 crores. This is one of many high-ticket transactions in the past few quarters, highlighting the market's appetite for high-end Uber luxury homes. DLF, India's largest listed real estate developer, has announced plans to launch super luxury projects in Goa and Gurugram, catering to this burgeoning demand.
Aakash Ohri, MD and CBO, DLF Home Developers Ltd, said, 'The definition of luxury homes has evolved, driven by a significant rise in buyer intent. There is a shift in investment preference towards real estate, particularly high-value holiday homes set in natural surroundings away from metropolitan areas.'
Mumbai is also experiencing a surge in luxury housing demand, with acquisitions like the one made by leading fashion designer Vratika Gupta, who purchased a sea-view luxury home in the lavish 'Three Sixty West' tower for a whopping Rs 116.42 crores.
These super-luxury homes are not only symbols of opulence but also lucrative investments. Properties like DLF's The Camellias have seen astounding value appreciation, with prices skyrocketing from Rs 65,000 to Rs 85,000 per square foot, and in some cases, even breaching the Rs 1 lakh per square foot mark in recent resales.
Industry experts believe that this surge reflects a paradigm shift in the Indian luxury real estate market, where properties symbolize embodiments of success and prestige, fuelled by economic growth and evolving lifestyles. As the appetite for luxury living continues to grow, developers are responding with visionary projects that promise to redefine the landscape of luxury real estate in India and beyond, signifying a lasting shift in aspirations and lifestyles in one of the world's fastest-growing economies.
Information
DLF is India's largest listed real estate developer, known for its luxury residential projects across the country.
DLF Home Developers Ltd is a leading real estate developer in India, specializing in luxury residential projects that offer a global standard of living with top-notch amenities.
Frequently Asked Questions
What is driving the demand for luxury housing in India?
The demand for luxury housing in India is driven by the rising aspirations of the ultra-wealthy, who seek to own opulent homes that symbolize their status and lifestyle.
Which cities are experiencing a surge in luxury housing demand?
Cities like Kolkata, Gurugram, and Mumbai are witnessing a significant surge in luxury housing demand, driven by the growing appetite for high-end residences.
What kind of amenities are being offered in luxury residential projects?
Luxury residential projects are offering unparalleled amenities, such as the world's first residential floating sky sculpture, clubhouses, swimming pools, business centers, and more.
Are luxury homes a lucrative investment option?
Yes, luxury homes are a lucrative investment option, with properties like DLF's The Camellias seeing astounding value appreciation and prices skyrocketing in recent resales.
What is the future outlook for the Indian luxury real estate market?
The Indian luxury real estate market is expected to continue growing, driven by the rising demand for luxury living and the willingness of developers to respond with visionary projects that redefine the landscape of luxury real estate.
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