India’s luxury housing segment has expanded sharply over the past four years, with luxury homes now forming 27 percent of the country’s overall residential supply, up from 16 percent in 2021, according to data from Magicbricks.
Market observers said that the shift reflects developers’ sustained move toward larger layouts, premium specifications and integrated lifestyle amenities amid rising demand for high-end living spaces.
Data showed that the demand for luxury homes has strengthened and the strongest traction is in the Rs 2 crore to Rs 5 crore brackets. The interest in homes priced above Rs 10 crore in markets such as Mumbai and Gurugram has grown.
On the supply side, developers are contributing the most inventory in the Rs 1 crore to Rs 5 crore categories—signalling a dual strategy of catering to accessible luxury while scaling up high-end offerings.
Median luxury prices show strong depth across cities, with Mumbai at Rs 9.66 crore, Gurugram at Rs 5.46 crore, Bengaluru at Rs 2.91 crore, Hyderabad at Rs 2.20 crore, Chennai at Rs 2 crore, Pune at Rs 1.97 crore and Kolkata at Rs 1.50 crore, data showed.
Data showed that several micro-markets have seen rapid premiumisation. The luxury segment’s share in sectors along the Noida-Greater Noida Expressway has risen from 10 percent to 47 percent since 2021, Devanahalli in Bengaluru from 9 percent to 40 percent, Ballygunge in Kolkata from 12 percent to 50 percent, and Porvorim in Goa from 19 percent to 47 percent, driven by new infrastructure and township development.
Sudhir Pai, CEO, Magicbricks, said that India’s broader luxury consumption boom is now strongly shaping the housing market, where buyers are seeking not just larger spaces but future-ready, well-connected communities.
“What is striking is how quickly new corridors are emerging as credible luxury destinations, powered by infrastructure upgrades, better planning and rising affluence. These markets are no longer peripheral—they are becoming preferred choices for discerning, investment-aware buyers. This shift reflects a more confident premium homebuyer and will define how India’s luxury housing landscape evolves over the next decade,” he said.
Among city markets, Bengaluru leads with a 48 percent premium share, followed by Gurugram (43 percent), Hyderabad (29 percent), Pune (24 percent), and Kolkata (19 percent). While Mumbai continues to command the highest absolute prices, its premium share stands at 13 percent due to widespread premiumisation across mainstream housing stock, data showed.
Market analysts said that the evolving landscape reflects that luxury is no longer defined solely by exclusivity; it is increasingly characterised by design sophistication, sustainability integration, technology-enabled living and community-oriented environments that appeal to affluent, experience-driven buyers.
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