Luxury Real Estate in Emerging Markets: A Look at 2024’s Popular Destinations
In recent years, India has witnessed a significant surge in the demand for luxury residences. However, this surge in the demand for luxury residences is fuelled by the growing affluent class as they desire sophisticated living experiences. The real estate sector witnessed a substantial transformation in 2024, marked by a 40% year-on-year surge in luxury housing sales.
Not only that but there was a 20% decline also in sales of the affordable housing segment. This reflects a shift in consumer preferences and market dynamics, there has been a significant increase in the sale of residential units priced somewhere between 1-2 Crores. These luxury residences offer a blend of modern amenities, strategic locations, and premium lifestyle choices.
One of the prime reasons for this surge in demand for luxury residences is an increase in demand from those buyers who are looking for high-end properties having all the modern amenities. Moreover,
- Today’s homebuyers want not just a luxury home but also an iconic address that possesses a brand value.
- In the top cities of India, the number of HNIs (high net-worth individuals) is increasing by huge numbers, and in these cities, the share of luxury properties is on the rise.
- This popularity is also driven by the changing lifestyle aspirations of those home buyers who seek exclusivity and a superior quality of life.
- Most importantly, the desire for larger living spaces along with premium amenities and a residence in strategic locations is more noticeable than ever.
Let’s have a Look at 2024’s Popular Destinations
Investing in real estate in India holds promising profitability, regardless of the city. However, certain cities stand out with some lucrative options:
1. Delhi NCR
Delhi NCR, including Gurgaon, Noida, and Ghaziabad offers a luxury real estate market and economic abilities with excellent infrastructure and a political hub, this region drives a higher demand for high-end properties. However, in Delhi NCR, the exclusive gated communities and luxury apartments are the most trending investment options. Following are the best localities to invest in properties in Delhi NCR –
A. Noida/Greater Noida –
Noida or Greater Noida is an emerging region that has been experiencing a surge in luxury projects recently, however, some of the prime projects that you should consider investing in Noida/Greater Noida –
- ACE Divino Sector 1, Greater Noida West
- ACE Starlit Sector 152, Noida
- Nirala Aspire Low-Rise Phase IV Sector 16, Greater Noida West
- ACE Sector 12, Noida Extension
B. Gurugram –
Gurugram is the heart of India's corporate landscape, offering high returns on real estate investments due to its thriving business ecosystem and rapidly developing infrastructure. Here are the best luxury residential projects to be considered for investing in Gurugram –
- Smart World 69 Sector 69, Gurugram
- Max Estate 360 Dwarka Expressway Sector 36A, Gurugram
- Godrej Zenith Sector 89, Gurugram
C. Ghaziabad –
With seamless connectivity to Delhi and a hub of luxury residential projects, Ghaziabad stands out as a prime destination for investors seeking long-term growth in the real estate market. Some of the prime projects to invest in Ghaziabad are as follows –
- Gaurs Siddhartham Siddhartha Vihar, Ghaziabad
- IRIS Prime Vaishali, Ghaziabad
- Landcraft Golflinks NH 24 Highway, Ghaziabad
2. Bangalore
Bangalore, known as the Silicon Valley of India, attracts real estate investors with its booming IT industry, promising consistent appreciation and rental yields. Bangalore's vibrant economy and expanding infrastructure make it a top choice for real estate investments, offering diverse opportunities from luxury homes to commercial spaces. Some of the best options to invest in Bangalore are:
- Lodha Azur Bannerghatta Road, Bangalore
- Mahindra Zen Singasandra, Bangalore
- Lodha Mirabelle Manyata Tech Park, Bangalore
3. Pune
Pune's strategic location and thriving educational and IT sectors make it a hotspot for real estate investments, offering a balanced mix of growth and stability. With its pleasant climate, robust infrastructure, and rising demand for quality housing, Pune is emerging as a prime destination for real estate investors seeking high returns. Some of the prominent projects to invest in Pune are:
- Godrej 24 Hinjewadi, Pune
- Kohinoor Central Park Hinhewadi, Pune
- Lodha Baner Pan Card Club Road, Pune
4. Mumbai
Mumbai, India's financial capital, offers unparalleled real estate investment opportunities with its ever-growing demand for premium residential and commercial spaces. With its dynamic economy and limited land availability, Mumbai ensures strong capital appreciation, making it a coveted destination for real estate investors. Some of the best projects in Mumbai to invest in are as follows –
- Lodha Bhandup Nirmal Nagar, Mumbai
- Godrej Bliss Kandivali East, Mumbai
- Kalpataru Vivant Jogeshwari Vikhroli Link Road, Mumbai
In Conclusion, these cities, namely Delhi NCR, Bangalore, Pune, and Mumbai, are some of today’s prime areas for real estate investment in India. However, you must conduct thorough research because individual preferences can vary significantly. Read out our blog Discover Which Indian Cities are Experiencing a Real Estate Boom to get more information on the localities to invest in India.
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