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Business Standard
2 hours ago
- Business
- Business Standard
The New Buyer Mindset: What Gurugram's Young Affluent Homebuyers Want
NewsVoir Gurugram (Haryana) [India], July 23: Gurugram's luxury housing market is being led by a new generation of young, affluent homebuyers. These are upwardly mobile professionals, entrepreneurs, and global citizens who bring with them rising disposable incomes, international exposure, and aspirational mindsets. The younger generation, Millennials and Gen Zs, are paving the way for a new definition of luxury living, majorly shaped by unique experiences and values. Instead of the traditional notion of luxury living, these young buyers have started emphasizing sustainability, technology, and personalized living experiences. For young affluent buyers, luxury is defined by the quality of life it offers. This generation of homeowners craves experiences that reflect their values of self-care, exclusivity, and social standing. Today, Delhi-NCR, especially Gurugram, has become an abode of luxury homes. A report by Anarock reveals that NCR saw a steep 27% year-on-year rise in average residential prices in Q1 2025, driven by a surge in luxury and ultra-luxury housing (priced above Rs. 1.5 crore). In Q2 2025, these segments accounted for 82% of all new supply, 42% luxury and 40% ultra-luxury, totalling around 18,760 units. In Gurugram, emerging micro-markets like Dwarka Expressway have become hotspots for those who value time, access, and future appreciation. Its seamless connectivity to Delhi, IGI Airport, and upcoming metro lines makes it especially attractive. What's driving interest here is the rise of premium developments that strike the perfect balance between privacy and convenience, catering to those who seek sophistication without compromise. Additionally, with the influx of high-net-worth individuals and NRIs looking to invest back home and an emerging class of affluent millennials, the demand for premium homes soared to record levels in the region. In 2024, Rs. 79,000 crore worth of luxury homes were sold in Gurugram, which is about 50% of all luxury homes sold in India, according to PropEquity. Besides, young homebuyers are setting a new bar for luxury, one that seamlessly blends aesthetic sophistication with exclusive community living. Their preferences are shifting toward clean, modern, and flexible layouts that offer both functionality and flair. But it doesn't stop at interiors. These buyers are drawn to low-density, branded communities that prioritise privacy, curated experiences, and high-touch services. Private clubhouses, spa rooms, rooftop lounges, and concierge access have become essential components of a lifestyle that celebrates both personal space and social sophistication. Recognising this shift, developers are responding with projects that blend lifestyle, design, and long-term value. Rajjath Goel, Managing Director, MRG Group, says, "Gurgaon's luxury housing market is being redefined by young, discerning buyers who want more than just a premium address. They seek thoughtful amenities, privacy, and long-term value. Our project, MRG Crown, has been designed with this very ethos, offering an exclusive low-density living experience, seamlessly blending privacy, luxury, and urban connectivity." Thus, with the city's premium real estate consistently delivering healthy returns, homeownership has become a strategic blend of aspiration and legacy planning. As this wave of conscious, experience-driven buyers takes centre stage, Gurugram stands firmly as the epicentre of India's modern luxury real estate movement.
Fashion Value Chain
4 hours ago
- Business
- Fashion Value Chain
The New Buyer Mindset: What Gurugram's Young Affluent Homebuyers Want
Gurugram's luxury housing market is being led by a new generation of young, affluent homebuyers. These are upwardly mobile professionals, entrepreneurs, and global citizens who bring with them rising disposable incomes, international exposure, and aspirational mindsets. The younger generation, Millennials and Gen Zs, are paving the way for a new definition of luxury living, majorly shaped by unique experiences and values. Instead of the traditional notion of luxury living, these young buyers have started emphasizing sustainability, technology, and personalized living experiences. The New Buyer Mindset: What Gurugram's Young Affluent Homebuyers Want For young affluent buyers, luxury is defined by the quality of life it offers. This generation of homeowners craves experiences that reflect their values of self-care, exclusivity, and social standing. Today, Delhi-NCR, especially Gurugram, has become an abode of luxury homes. A report by Anarock reveals that NCR saw a steep 27% year-on-year rise in average residential prices in Q1 2025, driven by a surge in luxury and ultra-luxury housing (priced above Rs. 1.5 crore). In Q2 2025, these segments accounted for 82% of all new supply, 42% luxury and 40% ultra-luxury, totalling around 18,760 units. In Gurugram, emerging micro-markets like Dwarka Expressway have become hotspots for those who value time, access, and future appreciation. Its seamless connectivity to Delhi, IGI Airport, and upcoming metro lines makes it especially attractive. What's driving interest here is the rise of premium developments that strike the perfect balance between privacy and convenience, catering to those who seek sophistication without compromise. Additionally, with the influx of high-net-worth individuals and NRIs looking to invest back home and an emerging class of affluent millennials, the demand for premium homes soared to record levels in the region. In 2024, Rs. 79,000 crore worth of luxury homes were sold in Gurugram, which is about 50% of all luxury homes sold in India, according to PropEquity. Besides, young homebuyers are setting a new bar for luxury, one that seamlessly blends aesthetic sophistication with exclusive community living. Their preferences are shifting toward clean, modern, and flexible layouts that offer both functionality and flair. But it doesn't stop at interiors. These buyers are drawn to low-density, branded communities that prioritise privacy, curated experiences, and high-touch services. Private clubhouses, spa rooms, rooftop lounges, and concierge access have become essential components of a lifestyle that celebrates both personal space and social sophistication. Recognising this shift, developers are responding with projects that blend lifestyle, design, and long-term value. Rajjath Goel, Managing Director, MRG Group, says, 'Gurgaon's luxury housing market is being redefined by young, discerning buyers who want more than just a premium address. They seek thoughtful amenities, privacy, and long-term value. Our project, MRG Crown, has been designed with this very ethos, offering an exclusive low-density living experience, seamlessly blending privacy, luxury, and urban connectivity.' Thus, with the city's premium real estate consistently delivering healthy returns, homeownership has become a strategic blend of aspiration and legacy planning. As this wave of conscious, experience-driven buyers takes centre stage, Gurugram stands firmly as the epicentre of India's modern luxury real estate movement.
Mint
5 hours ago
- Business
- Mint
How ultra HNIs can future-proof overseas education for their children
For ultra-high-net-worth families, a foreign education for their children is now a default milestone in their long-term planning. It is not just an academic decision but also a strategy for global mobility, wealth planning, and legacy building. Today, nearly every HNI family either has a child studying overseas or one preparing for it. This journey for a family is centred around numerous financial decisions and hence regulations. Following is a breakdown of Reserve Bank of India (RBI) regulations, key tax implications and strategic planning steps required to help families approach international education in a compliant and future-ready manner. As costs rise and global regulations evolve, a well-structured approach has become more essential than ever. The Indian regulatory framework For UHNI families with diverse portfolios, family offices or international holdings, funding their child's education can be a complex process. It includes coordinating multiple sources of funding, managing international bank accounts in the child's name and offshore investments. Navigating these complexities requires clarity on the regulatory framework set by the RBI. Under the Foreign Exchange Management Act (FEMA), governed by the RBI, students going abroad for education are classified as non-resident Indians (NRIs) from the time they leave India, provided their intention is to stay abroad for an uncertain period, even if the course has a defined duration. This decision was made considering that many students work part-time or receive scholarships, making them financially independent from their families in India. Once designated as NRIs, they are entitled to a range of benefits: Keeping these benefits in consideration, UHNI families can plan their wealth management and international mobility goals efficiently. Considerations for UHNI families UHNI families typically have more complex wealth structures and longer planning horizons. Here are a few ways in which they can ensure a smooth and compliant process, keeping all their goals in mind: These dynamics influence decisions such as long-term residency, making strategic education planning even more critical for UHNI families. Alternatively, families may choose to explore residency or citizenship by investment to reduce the impact of rising fees and visa limitations. Ensure that all the tax and foreign worker programs are clearly understood in the host country. Choosing the right country and leveraging tax-efficient funding structures can help optimize both educational outcomes and wealth preservation. For UHNI families, it is imperative that they work with experienced, multi-jurisdictional advisors like immigration consultants, private bankers and wealth managers, and cross-border tax experts to align their children's education journey with broader legacy, wealth transfer and mobility goals. This ensures long-term compliance in asset structuring across jurisdictions. Ashvini Chopra, head –family office solutions, Avendus Wealth Management. Views are personal.
NDTV
a day ago
- Business
- NDTV
How Non-Resident Indians Can Use UPI With Foreign Mobile Numbers
UPI Payments For Foreigners: The Unified Payments Interface (UPI) has provided a platform for Indians to send and receive money online quickly and easily. The benefits can also be availed by the Non-Resident Indians (NRIs) and foreign nationals, as they can make transactions in India using their foreign mobile numbers. There's no need for an Indian SIM card. UPI is an instant payment system, developed by the National Payments Corporation of India (NPCI), that allows users to make payments in seconds. In 2023, the Reserve Bank of India (RBI) allowed access to UPI to foreign nationals and NRIs with NRE (Non-Resident External) or NRO (Non-Resident Ordinary) accounts. RBI had also updated its Master Directions on Prepaid Payment Instruments (PPIs). On June 25, 2025, IDFC First Bank announced in a press release that NRI customers can make UPI payments using their international mobile numbers, without incurring any charges. "This facility is available to all IDFC FIRST Bank NRI customers from 12 countries: Australia, Canada, France, Hong Kong, Malaysia, Oman, Qatar, Saudi Arabia, Singapore, the UAE, the UK, and the USA - for INR-denominated transactions within India," the bank said. The bank noted that NRIs can use the UPI facility even while being abroad, if the payments are for transactions within India. Such transactions do not attract any foreign exchange charges. The service is also supported by ICICI Bank, offering services for NRIs in 10 countries, including the US, UK, Canada and Australia. Managing finances without an Indian SIM card is cost-effective as the transactions are made in INR, avoiding foreign exchange fees. The process is also secure as the system has strong security features, including two-factor authentication and UPI PINs. How to Link Your International Mobile Number to UPI? Link your international mobile number with your bank account. Download a UPI-powered application that supports international mobile numbers and complete the onboarding process. The transactions need to be permitted, as per the bank's terms and conditions, UPI's official website noted. List Of Countries Whose Mobile Numbers Can Be Linked Australia, Canada, France, Hong Kong, Malaysia, Oman, Qatar, Saudi Arabia, Singapore, United Arab Emirates, United Kingdom and United States of America. List Of UPI-Powered Applications That Support Linkage Of International Mobile Numbers: Federal Bank (FedMobile) ICICI Bank (iMobile) IndusInd Bank (BHIM Indus Pay) South Indian Bank (SIB Mirror+) AU Small Finance Bank (BHIM AU) BHIM PhonePe List Of Banks That Support Linkage Of International Mobile Numbers: AU Small Finance Bank, Axis Bank, Canara Bank, City Union Bank, DBS Bank Ltd, Equitas Small Finance Bank, Federal Bank, HDFC Bank, ICICI Bank, IDFC First Bank, IndusInd Bank, Kotak Mahindra Bank, Punjab National Bank, South Indian Bank, State Bank of India, Yes Bank. How It Works: 1. Open an NRE or NRO account with a supporting bank 2. Register your international mobile number with the bank 3. Download a UPI-enabled app and link your account 4. Create a UPI ID and set a secure PIN
Time of India
a day ago
- Business
- Time of India
Sales of affordable, mid-income flats drop 32 pc in Jan-Jun across 7 cities: JLL
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel India's seven major cities have witnessed a 32 per cent drop in sales of apartments costing below Rs 1 crore, while demand for premium homes rose 5 per cent during the first six months of this year, according to Tuesday, real estate consultant JLL India released its report for housing market, which showed that sales of apartments fell 13 per cent annually in January-June 2025 to 1,34,776 units across seven cities -- Mumbai Metropolitan Region (MMR), Delhi-NCR, Kolkata, Chennai, Hyderabad, Bengaluru, and includes only apartments. Rowhouses, villas, and plotted developments have been per the data, sales of apartments (below Rs 1 crore category) fell 32 per cent annually in January-June to 51,804 sales of premium apartments (each above Rs 1 crore) rose 6 per cent to 82,972 units in the first six months of this calendar year."Apartments valued at Rs 1 crore and above represented approximately 62 per cent of total sales during the first half of 2025, marking a significant increase from their 51 per cent market share during the same period last year," JLL India segment's (sub-Rs 1 crore) share dropped to 38 per cent during the first half of 2025 from 49 per cent in the year-ago period."The steady growth in luxury home sales indicates rising buyer affluence, evolving lifestyle aspirations, and a heightened demand for larger, premium living spaces. This increasing focus on premium properties has overshadowed activity in the mass housing segment," said Samantak Das, Chief Economist and Head of Research, JLL Sterling Developers CMD Ramani Shastri said the real estate market is set for steady growth supported by reduced home loan interest rates, continued policy support, and infrastructure Suraj, Founder of InfraMantra, noted that Gurugram has seen huge supply in the luxury segment and a consequent demand from HNIs, NRIs and new-gen wealth estate and construction firm BCD Group CMD Angad Bedi said the record leasing of office spaces is helping drive housing demand across top-seven Kothari, Founder & CEO of Property First Realty, noted that there is a growing trend of premiumisation in the residential real estate Kumar, Marketing Head of M5 Mahendra Group, said, "India's growing economy has led to an increase in high-net-worth individuals (HNIWs) and ultra (HNIWs), especially in urban hubs."These major cities are seeing a surge in demand for high-end homes that offer luxury, exclusivity as well as connectivity, he added. PTI
