Premium Real Estate Booms in India: NRIs and HNIs Drive Demand, Top Developers Thrive
While Mumbai remains the hub of India's luxury real estate market, other metro cities like Gurugram, Hyderabad, and Bangalore are rapidly gaining prominence. This surge is driven by high-net-worth individuals (HNIs) and non-resident Indians (NRIs), who are increasingly seeking secure and high-yield investment opportunities.
Premium Real EstateLuxury HousingNrisHnisIndia Real EstateReal Estate MumbaiJun 05, 2025
Market observers note that the ability of Grade A developers to attract premium buyers and investors, access 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.
Top developers lead the way in addressing the growing demand for premium and luxury housing. Established, listed developers with a strong track record of timely delivery and compliance-driven operations are seeing steady growth in sales. For instance, DLF, India’s largest listed real estate company, 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, Godrej Properties reported sales of Rs 29,444 crore in FY25, 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 assert 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, noted 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,” he said. Aggarwal 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, observed 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’re 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, highlighted that the surge in premium and luxury real estate is a reflection of evolving buyer preferences 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 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, emphasized 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
What is driving the surge in India's premium real estate market?
The surge in India's premium real estate market is primarily driven by high-net-worth individuals (HNIs) and non-resident Indians (NRIs) who are actively seeking secure and high-yield investment opportunities. These buyers are looking for properties that offer both lifestyle and investment value.
Which cities are emerging as strong competitors to Mumbai in the luxury real estate market?
While Mumbai remains 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.
What are the key factors that position Grade A developers as leaders in the premium real estate market?
Grade A developers are positioned as leaders in the premium real estate market due to their ability to attract premium buyers and investors, access funding with ease, and execute large-scale projects efficiently. They also have a strong track record of timely delivery and compliance-driven operations.
How are developers adapting to the evolving preferences of NRIs and HNIs in the luxury housing market?
Developers are aligning their offerings with the evolving aspirations of discerning buyers by focusing on world-class design, timely delivery, and a lifestyle that is truly unmatched. They are also ensuring regulatory compliance and long-term value creation.
What are the strategic locations in Gurugram that are attracting luxury home buyers?
Strategic locations in Gurugram that are attracting luxury home buyers include Southern Peripheral Road (SPR), Dwarka Expressway, New Gurugram, and South of Gurugram. These areas offer great connectivity and are growing into complete urban communities.
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