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Business Standard
6 hours ago
- Business
- Business Standard
The New Buyer Mindset: What Gurugram's Young Affluent Homebuyers Want
NewsVoir Gurugram (Haryana) [India], July 23: Gurugram's luxury housing market is being led by a new generation of young, affluent homebuyers. These are upwardly mobile professionals, entrepreneurs, and global citizens who bring with them rising disposable incomes, international exposure, and aspirational mindsets. The younger generation, Millennials and Gen Zs, are paving the way for a new definition of luxury living, majorly shaped by unique experiences and values. Instead of the traditional notion of luxury living, these young buyers have started emphasizing sustainability, technology, and personalized living experiences. For young affluent buyers, luxury is defined by the quality of life it offers. This generation of homeowners craves experiences that reflect their values of self-care, exclusivity, and social standing. Today, Delhi-NCR, especially Gurugram, has become an abode of luxury homes. A report by Anarock reveals that NCR saw a steep 27% year-on-year rise in average residential prices in Q1 2025, driven by a surge in luxury and ultra-luxury housing (priced above Rs. 1.5 crore). In Q2 2025, these segments accounted for 82% of all new supply, 42% luxury and 40% ultra-luxury, totalling around 18,760 units. In Gurugram, emerging micro-markets like Dwarka Expressway have become hotspots for those who value time, access, and future appreciation. Its seamless connectivity to Delhi, IGI Airport, and upcoming metro lines makes it especially attractive. What's driving interest here is the rise of premium developments that strike the perfect balance between privacy and convenience, catering to those who seek sophistication without compromise. Additionally, with the influx of high-net-worth individuals and NRIs looking to invest back home and an emerging class of affluent millennials, the demand for premium homes soared to record levels in the region. In 2024, Rs. 79,000 crore worth of luxury homes were sold in Gurugram, which is about 50% of all luxury homes sold in India, according to PropEquity. Besides, young homebuyers are setting a new bar for luxury, one that seamlessly blends aesthetic sophistication with exclusive community living. Their preferences are shifting toward clean, modern, and flexible layouts that offer both functionality and flair. But it doesn't stop at interiors. These buyers are drawn to low-density, branded communities that prioritise privacy, curated experiences, and high-touch services. Private clubhouses, spa rooms, rooftop lounges, and concierge access have become essential components of a lifestyle that celebrates both personal space and social sophistication. Recognising this shift, developers are responding with projects that blend lifestyle, design, and long-term value. Rajjath Goel, Managing Director, MRG Group, says, "Gurgaon's luxury housing market is being redefined by young, discerning buyers who want more than just a premium address. They seek thoughtful amenities, privacy, and long-term value. Our project, MRG Crown, has been designed with this very ethos, offering an exclusive low-density living experience, seamlessly blending privacy, luxury, and urban connectivity." Thus, with the city's premium real estate consistently delivering healthy returns, homeownership has become a strategic blend of aspiration and legacy planning. As this wave of conscious, experience-driven buyers takes centre stage, Gurugram stands firmly as the epicentre of India's modern luxury real estate movement.
Fashion Value Chain
8 hours ago
- Business
- Fashion Value Chain
The New Buyer Mindset: What Gurugram's Young Affluent Homebuyers Want
Gurugram's luxury housing market is being led by a new generation of young, affluent homebuyers. These are upwardly mobile professionals, entrepreneurs, and global citizens who bring with them rising disposable incomes, international exposure, and aspirational mindsets. The younger generation, Millennials and Gen Zs, are paving the way for a new definition of luxury living, majorly shaped by unique experiences and values. Instead of the traditional notion of luxury living, these young buyers have started emphasizing sustainability, technology, and personalized living experiences. The New Buyer Mindset: What Gurugram's Young Affluent Homebuyers Want For young affluent buyers, luxury is defined by the quality of life it offers. This generation of homeowners craves experiences that reflect their values of self-care, exclusivity, and social standing. Today, Delhi-NCR, especially Gurugram, has become an abode of luxury homes. A report by Anarock reveals that NCR saw a steep 27% year-on-year rise in average residential prices in Q1 2025, driven by a surge in luxury and ultra-luxury housing (priced above Rs. 1.5 crore). In Q2 2025, these segments accounted for 82% of all new supply, 42% luxury and 40% ultra-luxury, totalling around 18,760 units. In Gurugram, emerging micro-markets like Dwarka Expressway have become hotspots for those who value time, access, and future appreciation. Its seamless connectivity to Delhi, IGI Airport, and upcoming metro lines makes it especially attractive. What's driving interest here is the rise of premium developments that strike the perfect balance between privacy and convenience, catering to those who seek sophistication without compromise. Additionally, with the influx of high-net-worth individuals and NRIs looking to invest back home and an emerging class of affluent millennials, the demand for premium homes soared to record levels in the region. In 2024, Rs. 79,000 crore worth of luxury homes were sold in Gurugram, which is about 50% of all luxury homes sold in India, according to PropEquity. Besides, young homebuyers are setting a new bar for luxury, one that seamlessly blends aesthetic sophistication with exclusive community living. Their preferences are shifting toward clean, modern, and flexible layouts that offer both functionality and flair. But it doesn't stop at interiors. These buyers are drawn to low-density, branded communities that prioritise privacy, curated experiences, and high-touch services. Private clubhouses, spa rooms, rooftop lounges, and concierge access have become essential components of a lifestyle that celebrates both personal space and social sophistication. Recognising this shift, developers are responding with projects that blend lifestyle, design, and long-term value. Rajjath Goel, Managing Director, MRG Group, says, 'Gurgaon's luxury housing market is being redefined by young, discerning buyers who want more than just a premium address. They seek thoughtful amenities, privacy, and long-term value. Our project, MRG Crown, has been designed with this very ethos, offering an exclusive low-density living experience, seamlessly blending privacy, luxury, and urban connectivity.' Thus, with the city's premium real estate consistently delivering healthy returns, homeownership has become a strategic blend of aspiration and legacy planning. As this wave of conscious, experience-driven buyers takes centre stage, Gurugram stands firmly as the epicentre of India's modern luxury real estate movement.
India Today
2 days ago
- Business
- India Today
Affordable homes are vanishing. Can you still get a 2BHK for Rs 1 crore?
Home prices in India's biggest cities have shot up sharply, and many aspiring homeowners are wondering whether buying a 2BHK flat under Rs 1 crore is still estate prices across major metros have surged due to strong demand, high construction costs, and a steady flow of luxury housing despite these challenges, there are still some pockets in both Tier-1 and Tier-2 cities where a 2BHK under Rs 1 crore is within SALES SLOW DOWN AS PRICES JUMPAccording to Anarock, housing sales in India's top seven cities dropped by 28% in the first quarter of 2025 compared to the same period last year. About 93,280 homes were sold in Q1 2025, down from 130,170 a year earlier. This fall comes amid rising prices and global uncertainties that have slowed the market's earlier strong price rise has been steep. Anarock data shows that average residential prices in the top seven cities increased by 10% to 34% in Q1 2025, mainly due to high demand and new launches in the premium segment. NCR and Bengaluru saw the biggest price jumps—more than 34% and 20%, respectively.A separate report by CREDAI, Colliers, and Lises Foras said that during the October–December quarter of 2024, housing prices rose by an average of 10% across eight major cities. Delhi-NCR alone recorded a 31% rise during this NCR, MMR, BENGALURU SEE BIGGEST PRICE SURGESPropTiger data for Q4 2024 shows Delhi NCR with an average price of Rs 8,105 per sq ft, up 49% from a year remains the most expensive market at Rs 12,600 per sq ft, up 18% year-on-year. Bengaluru's average price stands at Rs 7,536 per sq ft, rising 12% over the same period. (Source: PropTiger Research/Global Property Guide) advertisementHOW FAR CAN RS 1 CRORE STRETCH IN 2025?Santhosh Kumar, Vice Chairman of ANAROCK Group, said that finding a 2BHK for under Rs 1 crore in prime city locations is nearly impossible. However, buyers can still get decent homes in the peripheral or emerging parts of Tier-1 cities. He mentioned the below locations where people could find 2BHK homes under Rs 1 Bengaluru, buyers can look at Devanahalli, Bagalur, or Electronic City, where smaller developers still offer budget-friendly options. In Hyderabad, Narsingi and Kokapet are among the few remaining areas where Rs 1 crore can fetch a compact offers possibilities in Hinjewadi and Wagholi, and in Delhi NCR, buyers may consider Sohna, New Gurgaon, Greater Noida West, and Raj Nagar the MMR, areas like Mira Road, Naigaon, Dombivli, Panvel, and parts of Borivali are still affordable. For those considering Kolkata, options exist in New Town, Rajarhat, and EM Bypass. In Chennai, localities like OMR, Tambaram, Pallavaram, and Perambur still offer homes within Gupta, Director at RPS Group, said, 'In Tier-1 cities, good 2BHKs below Rs 1 crore are still available in upcoming corridors where infrastructure bridges the gap with distance disadvantages. In Delhi-NCR, such apartments are available in localities such as Dwarka Expressway and Noida Sector 150, though commuting times can be long.'TIER-2 CITIES OFFER SPACE, VALUE AND BETTER QUALITY OF LIFEIf buyers are willing to look beyond metros, Tier-2 cities offer better choices. Kumar said cities like Ahmedabad, Lucknow, Jaipur, and Coimbatore are emerging as attractive alternatives. These homes are not just more spacious but often located in central areas and supported by better infrastructure than many metro added, 'Tier-2 cities give you returns that are a lot better. In Indore's Vijay Nagar and Super Corridor, you can get a 1,200–1,400 sq ft 2BHK with a clubhouse. Prices in such areas have appreciated by 27% annually.'In Coimbatore, localities like Vadavalli and Saravanampatty offer proximity to IT zones, while Nagpur's Wardha Road offers premium 2BHKs starting around Rs 65 HARD HAS IT BECOME FOR FIRST-TIME BUYERS?Home prices across India's top seven cities rose 59% between 2021 and 2025, according to ANAROCK. Delhi NCR alone saw an 89% rise in the same period. This has made Rs 1 crore a tight budget in most large must weigh multiple factors, size, location, developer reputation, and commute. Those working from home or without school-going children may consider homes in far-out suburbs. But infrastructure becomes key in such cases. 'If roads or connectivity aren't developed now, there is no certainty they ever will be,' warned also pointed out that today's budget homes may have 25% smaller carpet areas, delayed infrastructure, and fewer social amenities like hospitals and schools within HAPPENING ON THE SUPPLY SIDE?As per ANAROCK, of the 1.99 lakh units launched across India's top seven cities in the first half of 2025, over 65,000 units were priced below Rs 1 crore. That's a lower share than before, but demand remains strong. Developers are still launching homes in this price bracket, especially in city the share of mid-segment homes has fallen from 36% to 32% in 2025, while luxury homes have risen to 41%, said Gupta. He added that buyers must also factor in registration charges and taxes, which can account for 5–8% of the home SHOULD BUYERS DO NOW?advertisementKumar said, 'It is unlikely that supply in this price bracket will disappear. But buyers must accept trade-offs—either on the size, the builder or the location.'If you're buying your first home, experts advise purchasing near your place of work in a Tier-1 city if possible, even if it means compromising on amenities or opting for a resale it's for investment, however, Tier-2 cities might offer better returns and lower maintenance costs. For example, Gupta noted that monthly maintenance in Nagpur is nearly 46% lower than in the challenges, 2BHK homes under Rs 1 crore are still available across India, if buyers are willing to look in the right places, explore upcoming locations, and compromise on size or brand. For some, Tier-2 cities may now offer a better blend of affordability and lifestyle than over-heated metro markets.(Disclaimer: The views, opinions, recommendations, and suggestions expressed by experts in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a financial advisor before making any actual investment.)- Ends
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Business Standard
15-07-2025
- Business
- Business Standard
Housing sales drop 20% in Q2 despite value gains, premium demand holds firm
India's housing market took a hit in the second quarter of the calendar year, with home sales across the top seven cities dropping 20 per cent year-on-year (Y-o-Y), Anarock 's Pan India Residential Market report for Q2 2025 showed. Despite that, overall sales value edged up by 1 per cent to ₹1.47 trillion — a clear sign that buyers are leaning toward fewer but higher-value homes. While the number of units sold declined to 96,300 across the top seven cities, sustained appetite for luxury homes kept average ticket sizes strong, reinforcing the premiumisation trend now defining the sector. Home prices rise Average home prices across major cities climbed 11 per cent to ₹8,990 per sq ft, driven by a 27 per cent spike in Delhi-NCR and 12 per cent in Bengaluru. While repo rate cuts offered some relief, affordability remains a growing concern, particularly for middle-income buyers. Housing launches decline, but outpace Covid-19 New project launches fell 16 per cent from the same quarter last year, totalling 98,600 units. That's also a slight 1 per cent dip compared to Q1 2025. Still, supply remains 64 per cent higher than pre-pandemic levels, showing underlying strength in the market, the report said. Mumbai Metropolitan Region (MMR), Bengaluru, Pune, and NCR led with 78 per cent of total launches. Chennai outperformed with a 79 per cent sequential and 63 per cent annual surge in fresh supply — the strongest growth among metros. City sales: Chennai surges, MMR and Pune slip Chennai was the only major market to post annual sales growth, rising 13 per cent Y-o-Y and 40 per cent over the previous quarter. NCR and Hyderabad also saw quarterly gains of 14 per cent and 9 per cent, respectively. In contrast, sales in MMR and Pune — traditionally strong performers — fell sharply by 25 per cent and 27 per cent, respectively. Despite the volume drop, value remained steady thanks to rising prices and a shift toward more expensive homes. If demand stays focused on premium categories, this trend is likely to continue. Luxury housing: Highest launches Luxury housing (₹1.5–₹2.5 crore) accounted for 27 per cent of all new launches, the largest share among segments. High-end (₹80 lakh–₹1.5 crore) and mid-end (₹40–₹80 lakh) followed with 21 per cent each. Meanwhile, affordable housing (<₹40 lakh) slipped to just 12 per cent of new supply. Developers in Hyderabad and Bengaluru ramped up the ultra-luxury supply, while MMR saw a rare uptick in affordable launches. Overall, though, developers across India continued shifting toward high-margin projects. Lesser unsold units Unsold inventory fell 3 per cent Y-o-Y to 562,000 units. Pune led with a 15 per cent drop, followed by MMR at 9 per cent. Conversely, Bengaluru saw a 30 per cent spike, reflecting a mismatch between launches and absorption. High-end homes now make up 30 per cent of all unsold inventory, while the ultra-luxury segment accounts for 10 per cent, raising red flags around oversupply in pockets like NCR. Recovery expected in H2 2025 The second half of the year could bring a recovery, helped by falling interest rates, faster project approvals, and the traditional festive-season boost. Developers are optimistic, projecting a 21 per cent rise in pre-sales for FY26, fueled by better execution and capital inflows. Land buying has already crossed ₹30,885 crore in the first half, 1.05 times the total for all of 2024. With developers becoming more selective, the focus now is on balancing luxury offerings with affordability.
Hans India
10-07-2025
- Business
- Hans India
Demand continuity drives business development for Indian real estate firms: Report
The creation of a strong launch pipeline by large and midsized developers in India highlights confidence in demand continuity and improves growth visibility over the medium term, a report showed on Thursday. While real estate companies in the residential segment have reported a mixed bag of operational performances in Q1 FY26, many listed companies (large and mid-sized) have made major progress in business development, according to the report by Emkay Global Financial Services. This was mainly due to a strong set of launches, supported by healthy demand. Since demand remains healthy, companies have maintained their full-year guidance, as they step up launches ahead. 'On the back of healthy footfalls at project sites and continued traction for newly launched projects in the sector, Emkay Global Financial Services expects prudent real estate companies to largely meet their FY26 pre-sales guidance,' the report mentioned. According to a recent Anarock report, the value of land deals (top eight cities + tier 2 and 3 cities) at Rs 309 billion in H1 CY25 is already 5 per cent higher than total transactions seen in CY24. The total size of land transactions during this period was 2,898 acres, which is 15 per cent higher than that seen in CY24. "Of these, 782 acres have been earmarked for JDAs. Development potential of the transacted land in H1 CY25 is 233 msf,' the report said, adding that as developers scout for growth opportunities, we expect the momentum of land acquisitions to continue ahead. While pre-sales performance has been mixed, a consistent and positive trend of a sharp surge in new business development is seen in the real estate sector. On the flip side, Lodha, Sobha and Signature Global reported muted performances, either due to a high base or fewer launches during the quarter, said the report.
