Western region opportunities

Siddharth Vasudevan Moorthy, Managing Director, Vascon Engineers Ltd, discusses growth, luxury, and redevelopment trends

- Siddharth Vasudevan Moorthy

44,277 new homes worth Rs 1,30,500 crores by 2030. This underline both the scale and economic significance of the opportunity. Momentum is visible with large integrated schemes and mass redevelopment initiatives gaining approvals. For developers and EPC partners, this translates into a robust long-term pipeline and parallel infrastructure upgrades to support the surge in the housing demand and supply.

How is the luxury real estate segment doing in western region markets?

The luxury real estate segment in western India is witnessing strong momentum, driven by rising affluence and evolving buyer aspirations. According to the Mercedes-Benz Hurun India Wealth Report 2025, the number of millionaire households in India is set to grow by 90% to 871,700 by 2025, with Mumbai leading as the country’s millionaire capital at 142 lakh households. This expanding affluent base is translating into robust demand for luxury housing. High-net-worth individuals and NRIs increasingly view Indian real estate as a reliable asset for wealth preservation and growth, with 51% of surveyed millionaires expecting the market to expand over the next two years. Demand is shifting from ostentation to value, buyers now prefer homes that balance premium amenities with sustainability, privacy, and smart technology, ensuring long-term desirability and resilience.