New Delhi: India's premium residential landscape is witnessing significant growth, fueled by innovative designs and increasing demand for luxury living spaces in both urban centres and emerging metros.According to ANAROCK Research, luxury housing (units priced above Rs 1.5 crore) account for almost 17 per cent of all new residential launches in India as of 2024.
Notably, tier-2 and tier-3 cities account for 12 per cent of these projects, signalling a shift in buyer preferences and market focus. Cities like Chandigarh, Ludhiana, Kochi, Indore, and Ahmedabad have emerged as strong players in the luxury real estate segment due to rapid urbanization and enhanced infrastructure.Affluent buyers in these developing cities are seeking residences that offer exclusivity and high-end amenities.
This shift is also driven by rising disposable incomes and increased investments from NRIs. For instance, Punjab once primarily known for its manufacturing and trade, the city is now emerging as a hub for luxury residential enclaves, premium retail spaces, and world-class commercial developments.As demand for upscale living and modern infrastructure rises, leading developers are stepping up with innovative projects that cater to the evolving aspirations of residents and investors alike.
These new developments like The Wilton and 'M Square' by Malhotra Realty are focusing on offering world-class amenities such as integrated five-star hospitality, high-end retail experiences, and lush green landscape.