India's luxury real estate market booms with demand surge from high-net-worth individuals, NRIs: Report
New Delhi : India's luxury real estate market is witnessing rapid growth, driven by strong demand from high-net-worth individuals (HNWIs), non-resident Indian (NRI) investors, and domestic buyers looking to invest in premium properties.
According to a report by GRI Club, an international real estate company, the sector is outperforming expectations and is set to record its third consecutive year of unprecedented sales.
"The sector is not only outperforming expectations but is on track to deliver its third consecutive record-breaking year in sales. In the top seven cities, total residential sales in 2024 are projected to exceed INR 5.1 trillion, with more than 300,000 units sold," it said.
This surge highlights the increasing dominance of the luxury real estate segment in the country's evolving property market.
The report stated that cities such as Mumbai, Gurgaon, and Bangalore have seen particularly high demand for ultra-luxury residences, with absorption rates reaching new heights. The trend reflects a growing preference among buyers for high-end, amenity-rich homes that offer exclusivity and superior lifestyle features.
Apart from individual buyers, family offices and institutional investors are also expanding their investments in luxury real estate. Many are channeling funds into structured real estate investments and alternative financial instruments, viewing luxury properties as a stable and appreciating asset class, especially amid stock market fluctuations.
The report said "Many of these investors are deploying capital into structured real estate funds and alternative investment vehicles, viewing luxury properties as a stable, appreciating asset class amid stock market volatility. NRIs, in particular, are playing a key role in this expansion".
For many NRIs, luxury real estate in India is seen as a long-term wealth preservation strategy, aligning with global investment patterns. Indian investors are also showing a strong interest in luxury properties abroad, particularly in markets like Dubai and the UK.
The continued momentum in India's luxury housing market signals a shift in investment strategies, with high-value property transactions becoming increasingly popular. As demand for premium real estate continues to rise, the sector is expected to remain a key area of growth within India's broader economy.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Observer
4 days ago
- Observer
UK and India discuss cooperation amidst Lammy's visit
NEW DELHI: Britain and India on Saturday discussed expanding their "counter-terrorism" collaboration following recent fighting between India and Pakistan, Britain's foreign minister said after meeting Indian Prime Minister Narendra Modi. British foreign minister David Lammy is the highest-profile Western official to have visited both New Delhi and Islamabad since the South Asian neighbours agreed to a ceasefire last month after their worst fighting in nearly three decades. The latest tensions began in April after the killing of 26 men in Indian Kashmir that New Delhi blamed on "terrorists" backed by Pakistan, a charge Islamabad denied. India then attacked what it called "terrorist infrastructure" in Pakistan, leading to escalation from both sides until a May 10 ceasefire. "We want the situation to be maintained, but of course we recognise fragility, particularly in the backdrop of terrorism, terrorism designed to destabilise India," Lammy said in an interview at the residence of the British High Commissioner in New Delhi. "We are keen to continue to work with our Indian partners on counter-terrorism measures." He said he discussed the next steps with both Modi and Indian Foreign Minister S Jaishankar, but gave no specifics. Last year, India and Britain discussed combating the financing of terrorism, cooperation between law enforcement and judicial bodies; and information sharing. Lammy said he also discussed boosting trade between the world's fifth and sixth largest economies. The countries concluded talks for a free trade deal early last month. "I know that Prime Minister Keir Starmer is very much looking forward to coming to India very soon to sign the free trade agreement," Lammy said. "There is so much that our two nations can continue to do together." Meanwhile, Canadian Prime Minister Mark Carney invited his Indian counterpart Narendra Modi to the upcoming Group of Seven summit in a phone call, as the two sides look to mend ties after relations soured in the past two years. The leaders agreed to remain in contact and looked forward to meeting at the G7 summit later this month, a readout from Carney's office said. India is not a G7 member but can be invited as a guest to its annual gathering, which will be held this year in Kananaskis in the Canadian province of Alberta, from June 15 to 17. "Glad to receive a call from Prime Minister (Carney)... thanked him for the invitation to the G7 Summit," Modi said in a post on X. Modi also stated in his post on Friday that India and Canada would work together "with renewed vigour, guided by mutual respect and shared interests." Bilateral ties deteriorated after Canada accused India of involvement in a murder and of attempting to interfere in two recent elections. Canada expelled several top Indian diplomats and consular officials in October 2024 after linking them to the murder and alleged a broader effort to target Indian dissidents in Canada. New Delhi has denied the allegations and expelled the same number of Canadian diplomats in response. India is Canada's 10th largest trading partner and Canada is the biggest exporter of pulses, including lentils, to India. Carney, who is trying to diversify trade away from the United States, said it made sense for the G7 to invite India, since it had the fifth-largest economy in the world and was at the heart of a number of supply chains. "In addition, bilaterally, we have now agreed, importantly, to continued law enforcement dialogue, so there's been some progress on that, that recognises issues of accountability. I extended the invitation to Prime Minister Modi in that context," he told reporters in Ottawa. — Reuters
Muscat Daily
03-06-2025
- Muscat Daily
Good news expected soon on India-Oman FTA: Minister
Muscat – India and Oman are close to finalising a Free Trade Agreement (FTA), with some 'good news' expected very soon regarding the signing of the deal, according to India's Minister of Commerce and Industry, Piyush Goyal. As reported by several Indian media outlets on Monday, Goyal stated that negotiations between India and Oman on the proposed free trade agreement are progressing towards a conclusion. The talks gained renewed momentum following Goyal's visit to Muscat in January this year. The negotiations for the agreement, officially known as the Comprehensive Economic Partnership Agreement (CEPA), formally commenced in November 2023. 'I think you will see some good news very soon on the Oman FTA,' Goyal told reporters during his official visit to France, when asked whether the agreement could be concluded this year, according to PTI. Goyal was in France to hold discussions with French leaders and businesses aimed at enhancing trade and investment ties. He was also scheduled to attend a mini-ministerial meeting of the World Trade Organization (WTO) on Tuesday. Oman is India's third-largest export destination among the GCC countries. India already has a similar agreement in place with another GCC member, the United Arab Emirates, which came into effect in May 2022. India's key imports from Oman include petroleum products and urea, which together account for over 70% of total imports. Other significant imports from Oman comprise polymers of propylene and ethylene, petcoke, gypsum, chemicals, and iron and steel. Speaking about such FTAs, Goyal remarked that these agreements not only promote trade in goods and services, but also strengthen supply chains and instill confidence among businesses on both sides through stable policies and predictability, according to the PTI report. 'So, in a way, it's a big message when you conclude an FTA,' he added.
Observer
27-05-2025
- Observer
India approves stealth fighter programme amid tensions with Pakistan
NEW DELHI: India's defence minister has approved a framework for building the country's most advanced stealth fighter jet, the defence ministry said on Tuesday, amid a new arms race with Pakistan weeks after a military conflict between the neighbours. Indian state-run Aeronautical Development Agency, which is executing the programme, will shortly invite initial interest from defence firms for developing a prototype of the warplane, envisaged as a twin-engine 5th generation fighter, the ministry said. The project is crucial for the Indian Air Force, whose squadrons of mainly Russian and ex-Soviet aircraft have fallen to 31 from an approved strength of 42 at a time when rival China is expanding its air force rapidly. Pakistan has one of China's most advanced warplanes, the J-10, in its arsenal. Militaries of nuclear-armed neighbours India and Pakistan faced-off in four days of fighting this month, which saw use of fighter jets, missiles, drones and artillery by both sides before a ceasefire was announced by U.S. President Donald Trump. It was the first time both sides utilised drones at scale and the South Asian powers are now locked in a drones arms race, according to Reuters' interviews with 15 people, including security officials, industry executives and analysts in the two countries. India will partner with a domestic firm for the stealth fighter programme, and companies can bid independently or as a joint venture, the defence ministry said in a statement, adding that the bids would be open for both private and state-owned firms. In March, an Indian defence committee had recommended including the private sector in military aircraft manufacturing to shore up the capabilities of the Indian Air Force and reduce the burden on state-owned Hindustan Aeronautics Ltd, which makes most of India's military aircraft. Air Chief Marshal Amar Preet Singh has previously criticised Hindustan Aeronautics for slow delivery of light combat Tejas aircraft, a 4.5 generation fighter, which the firm blamed on slow delivery of engines from General Electric due to supply chain issues faced by the U.S. firm.
