Real Estate Sector's Rapid Growth: Insights from Runwal Realty
The real estate sector, especially in metros like Mumbai, is seeing a significant surge in luxury and premium housing. Sanya Runwal, Director - Marketing & Retail at Runwal Realty, shares insights on the factors driving this trend, the role of sustainabil
Real EstateLuxury HousingMumbaiSustainabilityCommercial Real EstateReal Estate MumbaiFeb 05, 2025
The sector, particularly the luxury and premium housing segments, has witnessed substantial growth, especially in major metropolitan cities like Mumbai.
Factors Driving the Luxury Housing Market
India’s economic resilience and the rise in disposable incomes have led to a growing interest in luxury real estate.
Affluent buyers are increasingly looking at luxury properties as a means to preserve wealth and enhance their lifestyle.
This trend is most evident in metros, particularly Mumbai, where the luxury housing segment has outperformed other categories.
Areas like South Mumbai, Bandra, and Andheri West have emerged as hotspots despite the scarcity of land.
These locations are favored for their prime locations, world-class infrastructure, and modern residential spaces.
Luxury properties offer strong investment potential, delivering consistent returns in terms of capital appreciation and rental yields.
This has attracted investments from non-resident Indians (NRIs) who are drawn by improved mobility, quality of life, and favorable exchange rates.
Runwal Realty's Approach to Luxury Housing
Runwal Realty has kept pace with evolving consumer needs by building future-ready housing.
For example, Runwal The Residence at Nepean Sea Road offers large, column-free layouts and sea-facing views.
Runwal Elegante in Andheri West features India’s first sky promenade.
All projects include spaces for home offices, fitness zones, and recreational areas.
Branded residences, known for their craftsmanship and timely delivery, are gaining traction among conscientious homebuyers.
Runwal Realty's upcoming luxury projects in Worli and Walkeshwar are designed to meet these needs, enhancing the appeal of their offerings.
Strategic Expansion in Commercial Real Estate
The growth of India’s commercial real estate sector is a strong indicator of the country’s robust economic performance.
Mumbai has emerged as a hub for startups and established corporations, driving the demand for premium office spaces.
Runwal Realty is strategically expanding its footprint in the commercial segment by developing spaces that prioritize functionality, sustainability, and long-term value.
R Square, a strategically located development with eco-conscious designs, is a prime example.
Already 95% leased out, R Square reflects the growing demand for thoughtfully designed commercial spaces.
Embracing Sustainability in Design and Development
Sustainability has become a cornerstone of Runwal Realty’s design and development philosophy.
The company integrates eco-friendly practices such as energy-efficient systems, rainwater harvesting, and waste management solutions into its projects.
Green building certifications guide their efforts, ensuring reduced environmental impact and enhanced occupant well-being.
By incorporating ample green spaces, sustainable construction materials, and smart technologies, Runwal Realty is creating future-ready developments that align with the expectations of environmentally conscious buyers.
Shifting Consumer Preferences Post-Pandemic
Since the pandemic, consumer preferences have shifted significantly.
Homebuyers now prioritize space, wellness, and community living more than ever before.
The demand for larger homes with dedicated areas for work, fitness, and leisure has grown exponentially.
Buyers seek holistic environments that support their physical and mental well-being, with proximity to green spaces, world-class amenities, and integrated developments that minimize daily travel.
Runwal Realty has adapted by designing projects that cater to these evolving needs.
Developments now emphasize open layouts, multi-functional spaces, and extensive lifestyle amenities, including wellness zones, recreational facilities, and green landscapes.
Advanced health and safety features are also incorporated to ensure a sense of security for residents.
The focus on creating self-sustained communities has resonated strongly with post-pandemic buyers, making Runwal Realty's projects even more relevant in today's market.
Performance of the Real Estate Industry in 2024
The Indian real estate industry maintained its strong momentum from 2023, demonstrating impressive growth in 2024.
Projections suggest that the sector will contribute around 15% of the GDP by 2025.
This growth is driven by India’s robust economic expansion, accelerated urbanization, and rising demand for both residential and commercial properties.
In Mumbai, while overall housing sales saw a 5% growth in FY24, the luxury housing segment, particularly properties above Rs 1 crore, experienced a remarkable 41% year-on-year growth.
This shift in consumer preferences is influencing new launches, with a clear focus on high-end offerings.
Runwal Realty acquired a prime 4-acre land parcel in Worli for Rs 800 crore in October, planning to develop a luxury residential project with an estimated revenue potential of Rs 8,000 crore.
This move further strengthens their position in the high-demand luxury segment.
About Runwal Realty
Runwal Realty is a leading real estate developer in India, renowned for its innovative and sustainable projects.
With a strong presence in Mumbai and other metropolitan cities, the company is committed to building future-ready housing and commercial spaces that meet the evolving needs of its customers.
Runwal Realty’s focus on sustainability, functionality, and long-term value has positioned it as a trusted name in the real estate industry.
Frequently Asked Questions
What are the primary factors driving the increased demand for luxury and premium housing in India?
The primary factors include India’s economic resilience, the rise in disposable incomes, and the view of luxury properties as a means of wealth preservation and lifestyle enhancement. Metro cities like Mumbai have seen particular growth in this segment.
How is Runwal Realty positioning itself in the luxury housing market?
Runwal Realty is focusing on building future-ready housing with large, column-free layouts, sea-facing views, and amenities like home offices and fitness zones. They are also developing branded residences known for their craftsmanship and timely delivery.
What is Runwal Realty's approach to sustainability in real estate?
Runwal Realty integrates eco-friendly practices such as energy-efficient systems, rainwater harvesting, and waste management solutions. They also prioritize green building certifications and incorporate green spaces and sustainable materials.
How have consumer preferences in real estate changed post-pandemic?
Post-pandemic, consumers are prioritizing larger homes with dedicated spaces for work, fitness, and leisure. They seek holistic environments that support physical and mental well-being, with proximity to green spaces and integrated amenities.
What is the projected contribution of the real estate sector to India’s GDP by 2025?
The real estate sector is projected to contribute around 15% of India’s GDP by 2025, driven by robust economic expansion, accelerated urbanization, and rising demand for both residential and commercial properties.
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