Luxury Housing Market Booming

• Expected to reach $103 billion by 2030

• $17 billion market size in 2024

• Findings from Magic Bricks report

India’s luxury housing segment has been growing rapidly. Post-COVID, many homebuyers prefer larger and more luxurious homes, pushing up demand each year.

According to the India Luxury Housing Market Report 2025 by Magic Bricks:

• The luxury market is valued at $17 billion in 2024

• It is projected to grow at 35% CAGR, reaching $103 billion by 2030

Luxury housing is expanding beyond traditional hubs like Mumbai, Delhi-NCR, and Bengaluru. In Tier-1 cities, the Luxury Price Index (LPI) fell slightly from 2.32 in 2021 to 2.27 in 2025 due to rising non-luxury home prices. However, in emerging luxury corridors, the LPI increased from 1.00 to 1.44 due to 27% demand growth and 86% supply growth.

Average luxury home prices:

• Mumbai: ₹9.66 crore

• Gurugram: ₹5.46 crore

• Bengaluru: ₹2.91 crore

• Hyderabad: ₹2.20 crore

Several micro-markets showed major shifts:

• Noida Expressway: luxury share grew from 10% (2021) to 47% (2025)

• Devanahalli (Bengaluru): 9% to 40%

• Ballygunge (Kolkata): 12% to 50%

• Porvorim (Goa): 19% to 47%

Developers are launching larger units with premium specifications and high-end amenities. Luxury homes now account for 27% of total housing supply. Homes in the ₹2–3 crore and ₹3–5 crore segments saw the highest demand. Ultra-premium homes above ₹10 crore are mainly purchased in Mumbai and Gurugram.

Premiumisation is reshaping city markets:

• Bengaluru leads with 48% premium share

• Followed by Gurugram (43%), Hyderabad (29%), Pune (24%), Kolkata (19%)

• Mumbai recorded a lower 13% premium share