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All signs point to a spurt in luxe homes
Mint New Delhi
|December 30, 2024
Millennial and Gen Z buyers have been dominating the real estate space, accounting for over 60% of the purchases
Come 2025, India's real estate developers will double down on luxury and premium housing, leaving the affordable segment to catch up.
Developers from across India are stacking their portfolios with premium, luxury and uber-luxury projects. Delhi NCR-based M3M India has two luxury developments lined up for next year. Gaurs Group is looking at a series of ultra-luxury residential developments, townships and luxury projects in FY26. Among others, Bengaluru-based developer Sobha Ltd is planning to launch about 10 million sq. ft of projects in FY26, including venturing into the uber-luxury category.
"We are strategically leveraging the robust demand in the luxury real estate segment by curating projects that align with the evolving preferences of modern buyers," said Robin Mangla, president, M3M India. "We have an exciting pipeline of new launches planned for next year in the luxury category."
In the premium segment, Mahindra Lifespace Developers Ltd is turning away from affordable and launching more projects with ticket size starting from ₹2 crore.
"We used to play mostly in affordable and mid-premium," said Amit Kumar Sinha, managing director and chief executive officer of Mahindra Lifespace. "Now, we will exit affordable after our commitment is over and will play in mid-premium and premium. These are two of our bread and butter segments."
This story is from the December 30, 2024 edition of Mint New Delhi.
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