Luxury Real Estate in India Set to Zoom High in 2022

India's luxury real estate market is booming and how!! With more exposure to the world's finest luxury houses and a rise in the purchasing capacity of the typical Indian, the yearning to own a luxury home in India seems to be at an all-time high today. The luxury property market in India seems to be accelerating, which might have a favourable effect on the country's entire real estate industry.

2022 is anticipated to be a year for luxury homebuyers, with real estate analysts predicting a meteoric rise in the sales of and demand for luxury homes priced between Rs 10-25 crores. According to strong reports from India's luxury real estate markets, nearly 70% of High-Net-Worth Individuals (HNIs) intend to purchase a luxury home in 2022, indicating a significant turnaround in the luxury real estate segment across the country's prime real estate markets, including Bengaluru, Chennai, Delhi-NCR, Goa, Hyderabad, Kolkata, Mumbai, and Pune.

As high-net-worth individuals continue to prioritise their personal accomplishments and ambitions, obtaining luxury real estate remains a crucial component of their financial portfolios and a critical component of a well-lived life.Additionally, a trademark house with an exclusive address and other facilities is often reserved for a select group of homeowners. And this group has progressively grown in size over the past few of years as a result of pandemic-related disruptions.

Numerous luxury real estate developers in India believe that consumers spent more time in their homes over the last two years due to remote work and education, which resulted in families scouting for larger configurations to accommodate parents and children, as well as SOHO (small office/home office) options.Additionally, there is an increase in demand for high-quality residences equipped with services such as business centres, convenience shops, home theatres, and medical facilities, as well as much of their world as possible within/connected to the projects.

Many luxury house purchasers have been introspective and believe they need to enhance their lives immediately, particularly since they believe this is a wonderful time to grab the best deals on luxury real estate developments in India at the moment.The shift in work habits has caused many luxury house purchasers to believe that they would spend more time at home than in offices in the future, necessitating the need to renovate their present residences.With a plethora of luxury items accessible, such flashy vehicles and the like, real estate is the main priority for everyone with sufficient purchasing ability. Nothing is more safe than a physical asset such as real estate, and luxury real estate is unquestionably the preferred option for HNI purchasers today.

The majority of property analysts in India believe that India's metropolises, including Bangalore, Delhi-NCR, and Mumbai, as well as famous tourist locations such as Goa and Shimla, would fuel demand for luxury real estate acquisitions in 2022-2023.The increasing trend toward owning a customised and large luxury house in a prominent area that offers the optimal combination of price, size, and global amenities in safe surroundings seems to have set the stage for a promising luxury real estate market in the future quarters.