KAVORA Market Note / India
India's Luxury Housing Story Is Becoming a Structural Shift
Luxury housing in India is no longer simply a niche within the residential market.
India real estate
Recent market data suggests that premiumisation has become one of the defining characteristics of India's urban housing landscape.
During Q1 2026, JLL reported that homes priced above ₹1 crore accounted for 71% of residential sales across the top seven cities. The ₹1.5–3 crore segment grew 67% year-on-year, while properties above ₹5 crore also recorded strong growth.
Source: JLL, Q1 2026; as quoted in the supplied KAVORA market note. Measures represent different breakdowns of the same seven-city market. Percentages reproduced from the supplied market note.
The change is particularly relevant in markets such as:
- Mumbai
- Bengaluru
- Delhi NCR
- Pune
- Hyderabad
- Chennai
- Kolkata
JLL reported that Bengaluru, Mumbai, Pune and Delhi NCR together accounted for approximately 77% of Q1 2026 sales across the top seven cities.
The new definition of luxury
Luxury real estate increasingly combines:
- Location
- Prime addresses and connectivity.
- Space
- Larger residences and more functional layouts.
- Design
- Architecture, interiors and attention to detail.
- Amenities
- Wellness, recreation, concierge-style services and private spaces.
- Technology
- Smart-home infrastructure and future-ready systems.
- Brand
- Developer credibility and, increasingly, branded residences.
CBRE expects branded residences to remain an important growth theme in India, supported by demand for professionally managed homes and international service standards.