India’s luxury residential market has seen drastic changes over the years. A report by Cushman and Wakefield says Delhi-NCR is moving ahead among India’s major cities to offer luxury homes with prices to the tune of Rs 15,000 per sq. ft, accounting for 61 percent of all new residential projects. This shows that more spacious and opulent living has become a growing trend.
According to JLL, in H1 2024, Delhi NCR witnessed around 23,500 residential units being launched in the market. This is higher than the 22,707 units launched in 2023. As for new launches, Gurugram dominated with 55%, while Noida contributed 35%. Notably, more than 26% of these new launches, totaling about 6,200 units, comprised luxury apartments priced at over INR 5 crore
Luxury home demand is expected to move upward with rising incomes, greater urbanization, and upcoming airports like Jewar International Airport. It’s an exciting time for both buyers and investors in the luxury real estate market. Delhi-NCR is indeed experiencing huge investments in deluxe projects and a strong aspiration for spacious, high-class homes. Going by the development scale and pace, Delhi-NCR will certainly be one destination that promises unbeaten luxury living experiences to those looking for nothing but the best in terms of comfort and style.
A recent report by Anarock claims there is a growing trend for luxury homes with environmentally friendly features. Luxury residences above Rs 1.5 crore accounted for 45% of all housing sales in the National Capital Region in the first half of 2024. The figure has risen from just 3% in 2019, clearly reflecting a sharp swing towards luxury living that integrates environmental sustainability.
The desire for larger, more open living spaces is also shaping the luxury real estate market. With a focus on comfort and spaciousness, many buyers are shifting toward properties with expansive floor plans and ample outdoor areas. The trend toward open spaces, including green areas and elite clubhouses, reflects a preference for environments that offer both privacy and opportunities for socializing.
Today, people expect features such as private pools, home theatres, spa-like bathrooms, and gourmet kitchens in luxury properties. These features not only enhance the living experience but also cater to the desire for indulgence and convenience in modern homes. Smart security systems are essential parts of homes today. Home automation and voice-activated controls may control lighting, temperature, security, and entertainment systems, all of which are controllable through a smartphone app or voice commands. This increases both the convenience and safety features of such a house.
Prateek Group is one of the renowned developers with luxury projects in Noida and Ghaziabad. With a sharp insight into emerging trends, Prateek Group continues to innovate to deliver residences that epitomize the very essence of luxury living. The Group’s upcoming premium luxury project is focused on personalization, spacious designs, and sustainable practices. This development promises to encapsulate the latest trends in luxury housing, offering buyers ultimate comfort and style.
The luxury real estate sector is an evolving market characterized by the integration of personalization, technology, and seamless sustainability. They are not only opulently expensive surroundings but integrate personal preferences with advanced technology. As trends continue to change, luxury real estate will see even more innovation, adaptation, and evolving customer preferences.