The luxury real estate industry has grown significantly in India, exhibiting growing demand and appreciating rates, according to CBRE's Luxury Real Estate 2024 report. High-end residential demand is rising in cities like Bangalore, Mumbai and Gurugram, where luxury homes combine upscale shopping, branded housing and hospitality experiences into one ecosystem.
Also noteworthy is that the concept of luxury real estate is evolving well beyond lavish interiors and magnificent facades. Within the dynamic world of luxury real estate, architecture has created a strong statement as a defining element of brand identity, design philosophy, and innovation.
Shantanu Mallick says, “Buyers now look for an experience rather than just an address; they want a home that combines sustainability, exclusivity, technological intelligence, and iconic statements that eventually enhance their standard of living, "A statement." Architectural trends in luxury real estate now emphasise high-performance design, functionality and sustainability.”
“Developers are integrating advanced technologies and eco-friendly materials to create bespoke living experiences catering to the refined tastes of affluent and aware buyers. Using high-performance glass façades for natural light optimisation, sustainable building materials, and AI-powered home automation has significantly changed how luxury homes are designed and experienced,” he adds.
Recent projects in India align with these trends. Our ultra-luxury residential project, Elan The Emperor, has been designed with global architectural excellence in mind. The project brings together international consultants like SWA for landscaping, UHA London as the principal architect, HBA for interior design, and WET and CD+M for water features and lighting design, respectively, ensuring that its aesthetic and functional aspects match the standards of premium global residences.
Sustainability & Technology: Pillars of Modern Architecture
The Indian smart home market is witnessing rapid expansion, with the sector projected to grow at a CAGR of about 14.8% over the next four years, reaching a valuation of nearly $3.47 billion. Long-term projections estimate the industry will expand to about $14.93 billion by 2033, reflecting the increasing demand for integrated smart home automation, smart-controlled security, and AI-driven management systems. More than ever, high-net-worth individuals prioritise homes with smart automation features that enhance convenience, security and energy efficiency, ensuring a seamless living experience.
Also evident is the shift towards Earth-friendly and low-carbon impact construction materials, solar heating and advanced insulation techniques is evident in modern luxury residences.
Shantanu Mallick believes sustainability is no longer an afterthought; it is the foundation of modern architecture. Developments incorporating certified (IGBC/ GRIHA) green buildings, rainwater harvesting systems, solar power integration, charging points for EVs, etc., are setting new standards for the industry. Likewise, technology is now at the heart of modern luxury real estate. AI-driven climate control, automated lighting and advanced security systems that can be controlled remotely have become indispensable features of luxury homes. Moreover, developers are integrating IoT-enabled security solutions, biometric access, smart-controlled automation and AI-driven energy optimisation into new projects.”
India's Role in Global Luxury Trends
India is not just keeping up with global luxury trends but setting new benchmarks. The country's luxury housing market is projected to grow at a compound annual growth rate (CAGR) of about 21.81% from 2024 to 2029, increasing from about $38.02 billion to $101.92 billion during this period.
Shantanu Mallick elaborates, “The growth is driven by a significant increase in investments from High-Net-Worth Individuals (HNIs) and Non-Resident Indians (NRIs). The rise of mixed-use luxury developments, where high-end residences are integrated with premium retail, fine dining, and hospitality services, is redefining urban living. The demand for penthouses, high-rise luxury apartments, and private estates in metropolitan areas continues to surge. Premium developments have seen annual appreciation rates of over 8% in recent years, reflecting the strong demand for luxury properties in India's major cities.”
The future of luxury real estate is about crafting exclusive experiences with design functionality, sustainability, and technology, the three defining pillars of luxury architecture. As demand grows for high-tech and eco-conscious luxury residences, developers must continue to innovate, redefine and revolutionise the essence of modern luxury living.
