Luxury Homes in India: A Perspective

As a child, you might have fantasized about a sprawling mansion with endless rooms and lavish decorations, didn’t you?

While that image still holds a certain allure, the modern definition of luxury homes has evolved beyond mere size and grandeur. For as long as we can remember, luxury has been defined by scale.

For generations, we were conditioned to believe that luxury home designs in India were synonymous with grandiosity. It was for the elite, the privileged few who lived in mansions and drove opulent cars. Luxury was a spectacle, an outward display of one's wealth and status.

But things have changed now.

We interact with a diverse range of homebuyers daily. One thing we can assure you of is that the perception of luxury for high-end real estate companies has changed as a result of an increasing number of buyers who link luxury in terms of functionality and smart plans. Their questions have evolved and shifted to "What else? – Does this home offer more than just a pretty facade? Does this property go beyond the basics, providing features that enrich my everyday life and well-being?”

For Millennials, the concept of luxury is not only confined to grandeur spaces. With Modern architecture, luxury homes in India have faced new categorizations such as "premium," "high-end," and "limited editions."

They seek clever planning, useful amenities, and that coveted "cool city vibe."

Homebuyers today get more pulled towards detailing rather than mere open spaces. Yet, this doesn’t mean that open landscapes have vanished. Again, the question circles back to how well the space is planned.

Our ultimate point is, has this shift benefited the industry?

In 2019, only 7% of total sales accounted for the luxury segment while the figure rose to 18% in 2022. Livemint.com also published a news saying that 16% of buyers in India's top 7 cities prefer luxury homes against 9% in the pre-Covid period.

As we head towards 2024, this is a reminder that the luxury homes in India will witness nothing but an even more rising demand graph.

"Luxury Home Buyer Preferences Survey 2023" by Zillow Group found that 65% of luxury buyers prioritized "walkability and access to amenities" as a key factor in their decision. Something that high-end real estate companies should take note of!

So, as we shed the old skin of luxury, we embrace a new definition: one that is smaller, yes, but infinitely more profound. Here's to a fresh way of living, where luxury isn't about size but about living a good life.

Cheers for that!