India's luxury boom gets new postcodes: Where rich buyers are moving next

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India’s luxury market is getting a makeover—and not the subtle, soft-focus kind. Think gold-plated growth, supersized optimism, and whole new geographies discovering what walk-in wardrobes and concierge desks feel like.According to the Magicbricks India Luxury Housing Market Report 2025, the country’s love affair with premium living has officially gone national, powered by booming wealth, better infrastructure, and a growing appetite for design, space and… let’s be honest, bragging rights. 

In terms of price segments, luxury demand is strongest in the ₹2–3 crore and ₹3–5 crore brackets, supported by robust traction in ultra-premium purchases above ₹10 crore in markets like Mumbai and Gurugram, noted the report.  On the developer side, the highest supply contribution comes from the ₹1–2 crore, ₹2–3 crore and ₹3–5 crore categories, reflecting a dual strategy of catering to accessible luxury buyers while also strengthening high-end premium offerings.

 

"What is striking is how quickly new corridors are emerging as credible luxury destinations, powered by infrastructure upgrades, better planning and rising affluence. These markets are no longer peripheral—they are becoming preferred choices for discerning, investment-aware buyers. This shift reflects a more confident premium homebuyer and will define how India’s luxury

housing landscape evolves over the next decade," said Sudhir Pai, CEO, Magicbricks.

   

A $17 billion market on its way to a $103 billion makeover

 

India’s luxury landscape—across categories like jewellery, watches and automobiles—is projected to rocket from $17 billion in 2024 to $103 billion by 2030, clocking a jaw-dropping 35% CAGR. Naturally, housing—the biggest, boldest luxury statement most Indians ever make—has followed suit.

 

Premiums in Tier-1 cities take a breather… but new markets are on fire

 

Magicbricks tracks luxury affordability through its Luxury Price Index (LPI)—the Ratio of luxury median prices vs. mainstream median prices.

 

Tier-1 LPI softened from 2.32 (2021) to 2.27 (2025)

Translation: mainstream prices have caught up a bit, narrowing the premium gap.

 

Meanwhile…

 

Emerging luxury hubs saw LPI jump from 1.00 to 1.44

Backed by:

27% rise in demand

86% rise in supply

 

In simpler terms:

New markets are behaving like teenagers discovering premium brands—they want more, and fast.

 

The Big Crore Club: What Luxury Costs Today

 

Median luxury home prices now stand at:

 

• Mumbai: ₹9.66 crore
• Gurugram: ₹5.46 crore
• Bengaluru: ₹2.91 crore
• Hyderabad: ₹2.20 crore
• Chennai: ₹2.00 crore
• Pune: ₹1.97 crore
• Kolkata: ₹1.50 crore

 

Luxury is no longer a “three-city club.” Everyone wants in—and increasingly, they can afford to.

 

Meet India’s New Luxury Hotspots

 

Some micro-markets haven’t just grown—they’ve reinvented themselves:

 

• Noida Expressway: luxury share up from 10% → 47%
• Devanahalli, Bengaluru: 9% → 40%
• Ballygunge, Kolkata: 12% → 50%
• Porvorim, Goa: 19% → 47%

 

Metro lines, ring roads, airports, and well-planned townships are doing for these regions what designer labels once did for wardrobes: upgrade them instantly.

 

Luxury Homes Now 27% of Supply—Up from 16%

 

Luxury housing is no longer a niche hobby for developers:

 

• Supply share: up from 16% → 27%
• Demand share: up from 14% → 18%

 

Builders are rolling out larger layouts, premium specs, and gated communities that feel less like housing projects and more like lifestyle playgrounds.

 

What People Are Actually Buying

 

Hot demand zones by price:

 

₹2–3 crore

₹3–5 crore

 

Ultra-premium (₹10 crore+) is thriving too—especially in Mumbai and Gurugram, where the super-rich prefer their living rooms with views and valet-enabled lobbies.

 

Developers, meanwhile, are flooding the ₹1–2 crore, ₹2–3 crore, and ₹3–5 crore brackets.

 

Why? Because India’s affluent-but-practical buyers want luxury without jumping into the billionaire league.

 

City Premium Shares: Who’s Winning?

 

Premiumisation—the gradual shift of mainstream into semi-luxury and luxury—has produced some interesting city-level stats:

 

• Bengaluru: 48%
• Gurugram: 43%
• Hyderabad: 29%
• Pune: 24%
• Kolkata: 19%
• Mumbai: 13% (but with the highest prices)

 

Mumbai’s low premium share doesn’t mean buyers aren’t rich—just that mainstream housing itself is already expensive enough to count as premium in half the country.

 

Luxury Buyers Want More Than Marble Floors Now

 

Sudhir Pai, CEO of Magicbricks, sums up the shift:

 

Today’s luxury homebuyer wants bigger spaces, better connectivity, future-ready infrastructure, and communities that feel like micro-cities.

 

Luxury is no longer defined only by exclusivity. It now means:

 

• Thoughtful design
• Sustainability
• Smart-home tech
• Wellness amenities
• Seamless connectivity
• Socially vibrant neighbourhoods
• Basically, people want luxury they can live in—not just look at.

 

Luxury is No Longer a Delhi-Mumbai Club

 

The Indian luxury housing market isn’t just growing—it’s democratising. More cities, more micro-markets, more segments, more buyers.

 

What was once the preserve of a few metro-postcode elites is now a nationwide movement—even if the buying ticket still starts around ₹2 crore.