Counting crores: What's behind the surge in India's new ultra-Luxury homes?

As luxury thresholds climb, the real differentiator at Rs 15 crore is no longer square footage but privacy infrastructure, brand equity and managed living

Luxury in Indian real estate has quietly redrawn its price map. A few years ago, homes priced above ₹1.5 crore were categorised as luxury. Today, that threshold has moved dramatically upward. According to Anuj Puri, chairman, ANAROCK Group, the ultra-luxury segment now effectively begins at ₹15 crore and scales significantly beyond. The shift is visible in market data. An ANAROCK report found that luxury housing prices across major cities rose 40 per cent between 2022 and 2025. Delhi-National Capital Region (NCR) recorded a steep 72 per cent rise, while the Mumbai Metropolitan Region (MMR) saw a 43 per cent increase over the same period. What was once considered a high-ticket purchase is now the launch norm in prime micro-markets.

 

In value terms, the ultra-luxury segment accounted for a 24 per cent market share in CY2025, according to the High-End Luxury Housing Report released by India Sotheby’s International Realty (ISIR) and CRE Matrix. The report also found that the average ticket size of luxury homes sold in CY (Calendar Year) 2025 was ₹16 crore, highlighting strong buyer appetite for ultra-premium homes.

 

But this raises an important Spending question: If both ₹5-crore and ₹15-crore homes offer a carpet area of 3,000–5,000 sq ft, what exactly are buyers paying for at the higher end? The answer lies beyond square footage.

Beyond size: The experience premium

"The difference between luxury homes worth ₹15 crore and ₹5 crore goes beyond size,” says Puri. “It has to do with curated experiences, brand equity, and ‘white-glove’ services.” Both types of homes have large 3,000–5,000+ sq ft layouts, but ultra-luxury homes cost 30–40 per cent more because they come with features that are usually found in five-star hotels: 24/7 concierge services, private chefs, temperature-controlled wine cellars, dedicated spas, and internationally-certified concierge teams.

 

Residences that have brand alignments with well-known hotel chains offer 8–9 per cent annual rental yields, compared to 2.5–3.5 per cent for regular luxury apartments. These homes come fully furnished and offer hotel-like comfort in private settings. The higher prices are justified by innovative design, custom options like private rooftop pools, and the ability to use five-star hotel services. These features make such high-grade lifestyle communities more than just places to live, he says.

Pincode no longer a barrier

The departure in India’s super-luxury housing story is that it is no longer anchored solely to legacy addresses. “What is particularly notable is that this growth is no longer confined to traditional prime pockets,” says Tina Talwar, area director, ISIR. “Emerging micro-markets such as Dwarka Expressway, Golf Course Road and Golf Course Extension Road are driving structural expansion, supported by infrastructure upgrades, stronger product offerings and improved connectivity.”

 

In other words, ultra-luxury is increasingly about infrastructure-led re-rating wherein new corridors, backed by access and design differentiation, are creating fresh premium clusters.

Luxury by invitation

Access is the biggest amenity. At ₹15 crore and above, luxury is as much about access as it is about architecture. These residences are sold “by invitation” signalling that exclusivity — not scale — defines the proposition.

 

A defining feature is the seamless integration of bespoke hospitality into everyday living. Trained service teams anticipate rather than respond to needs, while personalised concierge and lifestyle managers coordinate everything from international travel and event access to home management with discretion and efficiency.

 

In this bracket, value is defined less by visible opulence and more by invisible sophistication — privacy, precision and personalised living, says Amar Sarin, chief executive officer and managing director of TARC Ltd.

 

“Luxury at the ₹5-crore price point is largely determined by features, brand affiliations and prime location,” he says. “However, at ₹15 crore and above, the definition changes fundamentally. Rarity, scale and highly customised living become central. Buyers are investing in exclusivity.”

 

That exclusivity translates into lower-density developments, expansive layouts, private elevator access, enhanced security and discreet arrival experiences. “The real differentiator is lifestyle infrastructure and service,” he adds. “Concierge-led home management, curated event support, travel coordination and bespoke assistance are integral. The residence is expected to function with the efficiency of a luxury hotel while maintaining the privacy of a personal sanctuary.”

Global tastes, local interpretation

Design, too, evolves. At the U-HNI level, design has moved away from overt displays of luxury toward quieter, globally benchmarked sophistication. Limited inventory, bespoke detailing, and a sense of esotericism increasingly define elevated living.

 

“At the super-luxury level, the brief moves from premium to bespoke,” Sarin explains. Larger decks, fluid layouts, higher ceilings, natural light and unobstructed views become priorities. Buyers demand flexibility — private wellness suites, entertainment zones and customised material palettes are increasingly common.

 

Ultra-HNI buyers, globally exposed and hospitality-benchmarked, now favour aesthetics that are subtle and refined — warm yet minimalist, modern yet contextual. Walk-in wardrobes, seamless indoor-outdoor transitions and integrated smart systems are baseline expectations. Increasingly, homes are also expected to harmonise global design language with Indian sensibilities such as vastu alignment.

 

This segment is all about understated elegance, where luxury is not loud, quiet is the new grand, and subtlety is status.

Homes as brick-and-mortar heirlooms

Branded residences increasingly anchor India’s ultra-luxury segment. Robin Mangla, president, M3M India Group, notes that the category has evolved well beyond just larger apartments and premium finishes. “At this level, buyers are seeking global brand associations, exclusivity, privacy, and a thoughtfully curated lifestyle rather than just size,” he says.

 

Developments in collaboration with internationally recognised names such as Trump Tower, Jacob & Co. and ELIE SAAB are priced between ₹14 crore and ₹25 crore, depending on configuration and micro-market. Signature Residences by ELIE SAAB, for instance, are currently priced between ₹15.5 crore and ₹17 crore, with rates around ₹37,000 per sq ft.

 

“These projects offer expansive layouts, private lift access, enhanced security and hospitality-inspired common spaces,” Mangla points out. “Limited inventory and strong brand pedigree are key drivers of long-term value. Increasingly, such residences are viewed as lifetime assets — much like heirloom jewellery — with enduring appeal across generations.”

 

Here the home shifts from being a lifestyle upgrade to a legacy asset — where brand equity, scarcity and service infrastructure combine to create value that extends beyond occupancy.

Ultra-Luxury buyer checklist

At the end of the day, however, aspiration must also make space for scrutiny.

 

Check the developer’s track record in delivering comparable projects. Evaluate whether concierge and hospitality services are contractually structured and financially sustainable. Assess density and privacy — private lift access, limited units per floor and controlled entry are critical.

 

In branded residences, clarify what the brand actually manages — operations or merely marketing. Examine the micro-market’s long-term defensibility, supported by infrastructure and sustained demand. Finally, consider exit liquidity — ultra-luxury can be less fluid than mid-market housing.

 

At this level, you are not buying a larger apartment. You are investing in an ecosystem — one that must endure beyond cycles, trends and launch premiums. In ultra-luxury, longevity is the real benchmark and value lies less in visible scale and more in invisible systems.