The definition of luxury is constantly shifting as buyer preferences change, and the luxury housing segment has changed dramatically over the past few years. Homebuyers are global travelers seeking the ultimate blend of luxury and technology, and are drawn to properties that embody convenience and a mindful lifestyle. The advent of smart home technology and the idea of ​​sustainable living have become a hot topic and are driving trends in luxury housing.
Sharing his outlook on this trend, Sandeep Chillar, Founder and Chairman, Landmark Group said, “The future of luxury living will be one where innovation is at the forefront and incorporates smart technology and sustainable features, which will undoubtedly redefine modern-day luxury. Earlier, luxury and grandeur were synonymous with luxury homes, but now the addition of sustainable lifestyle and technology stands out as an enhanced version of bespoke luxury homes.”
The luxury residential market in Delhi NCR is booming with changing lifestyles of buyers resulting in a surge in demand for luxury homes. This trend is highly reflected in Gurugram's luxury residential market with buyers focusing on strategically seeking luxurious living spaces that cater to all aspects of modern living with the finest contemporary amenities, he added.
Amid rising demand, Delhi National Capital Region is leading a notable rise in luxury homes in Q1 2024, with sales outperforming other segments. Today's luxury homeowners are more conscious about their environmental impact and are increasingly looking for ways to live in harmony with nature. According to an Anarock report, 21% of total residential unit sales across the top seven cities in Q1 2024 were luxury homes. This is a three-fold increase compared to Q1 2019.
Yukti Nagpal, director at Gulshan Group, highlights the growing appeal of eco-conscious amenities in the luxury real estate market. “Today's luxury homebuyers are not just looking for luxury, they are seeking a lifestyle that reflects their environmental values. Features such as rooftop gardens, solar-powered amenities and sustainable materials are becoming essential in luxury properties,” she explains. “These elements enhance the aesthetic and functional appeal of a luxury home and strongly resonate with buyers who prioritize environmental responsibility. They represent a major shift in the market where luxury and sustainability are no longer mutually exclusive but are intertwined to create a harmonious living environment.”
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According to an Anarock report, the percentage of luxury homes sold in India has tripled in the last five years. The upward sales trend has laid a strong economic foundation for the luxury real estate market, fuelling the desire for unique living experiences among affluent Indian homebuyers.
Sachin Ghauri, Founder and CEO, Rise Infra Ventures, added, “The rise of sustainable living and smart technology in luxury homes is not just a trend but a paradigm shift in how homebuyers define and experience luxury. From advanced home automation to premium amenities, these features are setting new standards in the luxury housing sector. Moreover, eco-friendly materials and energy-efficient designs are taking center stage, allowing occupants to live in luxury while protecting the environment at the same time. Hence, we expect continued growth with robust demand for luxury homes with these features shaping the real estate market in the coming years.”
In the past, homebuyers preferred luxury homes characterized by their spaciousness, lavish design elements, and luxurious amenities. However, as discerning homebuyers become more conscious of their environmental impact, the definition of luxury is shifting towards a more meaningful and sustainable living. An epitome of convenience and personalization, it is the perfect blend of lush landscaping, open areas, integrated intelligence, and a touch of personalization that creates a customized living experience. Buyers are seeking more space, contemporary amenities, stunning architectural layouts, and well-thought-out sustainable designs to ensure experiential living.
Ashwani Kumar, Pyramid Infratech, said, “Affluent buyers are seeking homes that not only evoke luxury but also underscore their commitment to sustainability. Further, luxury housing has undergone a major transformation over the years with the advent of smart home technology. Mindful lifestyles and technological advancements have set up key trends in luxury housing. Smart technology defines a new age luxury home that is tailored to individual needs and requirements. As the luxury market in Delhi NCR is on the rise, this trend is expected to further drive demand in the coming years, attracting interest from investors globally, resulting in higher returns and valuations.”
This trend has seen the introduction of eco-friendly materials and energy-efficient systems into the luxury real estate market. When it comes to materials, sustainable yet luxurious elements such as reclaimed wood and biodegradable fabrics are gaining in popularity. Thus, by incorporating sustainable materials, luxury properties can achieve both aesthetics and a lower environmental impact, meeting the high standards of today's discerning and eco-conscious luxury buyers.