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India’s Luxury Housing Market Spreading Beyond Metros As Tier-1 Cities Stabilise: Report
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The Magicbricks report comes amid higher overall premium spending as India’s luxury market likely to surge from $17 billion in 2024 to $103 billion by 2030, growing at CAGR of 35%.
The Rs 2-3 crore and Rs 3-5 crore price brackets account for a majority of luxury demand, with ultra-premium purchases above Rs 10 crore showing strong traction in Mumbai and Gurugram.
India’s luxury market is poised to surge from $17 billion in 2024 to $103 billion by 2030, growing at a CAGR of nearly 35%, according to a report by real estate portal Magicbricks. Jewellery, watches, and automobiles continue to lead luxury spending, but housing is increasingly becoming a key beneficiary of this shift.
The report, titled ‘India Luxury Housing Market Report 2025’ released on Wednesday, said India’s luxury residential segment is maturing while simultaneously spreading beyond traditional hubs like Mumbai, Delhi-NCR and Bengaluru. A key indicator of this transition is the Magicbricks Luxury Price Index (LPI), which measures the premium of luxury properties relative to mainstream housing. Tier-1 cities saw the LPI ease marginally from 2.32 in 2021 to 2.27 in 2025, suggesting that non-luxury home prices have risen steadily, narrowing the price gap.
Conversely, emerging luxury corridors witnessed sharper escalation, with the LPI rising from 1.00 to 1.44, fuelled by a 27% rise in demand and an 86% jump in supply. Cities such as Mumbai (Rs 9.66 crore median luxury price), Gurugram (Rs 5.46 crore), Bengaluru (Rs 2.91 crore) and Hyderabad (Rs 2.20 crore) continue to anchor the segment, but the ability of multiple locations to command premium valuations reflects a broadening market base.
Several micro-markets have recorded dramatic shifts in their luxury footprint over the past four years. Luxury’s share on the Noida Expressway grew from 10% in 2021 to 47% in 2025, Devanahalli in Bengaluru from 9% to 40%, Ballygunge in Kolkata from 12% to 50%, and Porvorim in Goa from 19% to 47%. The report attributes these changes to infrastructure upgrades, improved connectivity, and the emergence of integrated township developments.
Developers have responded to this surge by expanding premium offerings. Luxury homes now account for 27% of total housing supply, up from 16% in 2021, as developers focus on larger units, premium specifications and high-end amenities. Demand has also strengthened, rising from 14% to 18% of total home searches, led by buyers prioritising design, convenience and future-ready living environments.
The Rs 2-3 crore and Rs 3-5 crore price brackets account for a majority of luxury demand, with ultra-premium purchases above Rs 10 crore showing strong traction in Mumbai and Gurugram. Supply growth mirrors this split, with developers targeting both accessible luxury buyers and high-end aspirants in parallel.
Sudhir Pai, CEO of Magicbricks, said the momentum in luxury consumption is reshaping housing preferences. “Buyers are seeking not just larger spaces but future-ready, well-connected communities. 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.”
The report notes that premiumisation is transforming city markets. Bengaluru holds the highest premium share at 48%, followed by Gurugram (43%), Hyderabad (29%), Pune (24%) and Kolkata (19%). Mumbai remains the costliest market in absolute terms, but records a comparatively lower premium share of 13% due to widespread premiumisation of mainstream housing.
The changing landscape, according to the report, reflects a shift in what defines luxury—from exclusivity to a mix of design sophistication, sustainability features, technology integration and community-focused environments. As affluence deepens and urban aspirations evolve, India’s luxury housing market is expected to remain on a steep growth trajectory in the coming decade.
Click here to add News18 as your preferred news source on Google. December 03, 2025, 12:58 IST
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Gold is sold at a discount in Dubai due to Middle East conflict disrupting flights. Traders offer up to $30 per ounce less than London prices.
Dubai Gold Selling Cheaper As Iran War Grounds Flights
Gold is being sold at a discount in Dubai as the widening conflict in the Middle East disrupts flights and hampers the movement of bullion from one of the world’s key trading hubs.
According to a Bloomberg report, traders in Dubai are offering discounts of up to $30 per ounce compared to the global benchmark price in London. The unusual price cut comes as shipments remain stranded due to flight disruptions triggered by the escalating conflict involving Iran and Israel.
Dubai is a key global centre for refining and exporting gold to markets across Asia, including India. However, partial airspace restrictions and heightened security risks have slowed the movement of bullion out of the region.
Why Gold Is Being Sold Cheaper
Gold is typically transported in the cargo holds of passenger aircraft. With several flights from the UAE restricted amid regional tensions, traders are struggling to move bullion to international markets.
At the same time, insurance and freight costs have surged, making shipments more expensive and uncertain. Many buyers have therefore stepped back from placing new orders, unwilling to bear high logistics costs without assurance of timely delivery.
To avoid paying prolonged storage and financing costs while shipments remain stuck, some traders are offering gold at discounted prices.
Although transporting bullion by road to airports in neighbouring countries such as Saudi Arabia or Oman is theoretically possible, logistics firms are reluctant due to the risks and complications of moving high-value cargo across land borders during a conflict.
What It Means For India
India, one of the largest buyers of gold shipped from Dubai, could face short-term supply disruptions if the situation continues.
Renisha Chainani, head of research at Augmont Enterprises Ltd., said several cargo shipments have already been delayed, creating temporary tightness in the availability of physical bullion in India.
However, industry experts as reported by Bloomberg say the immediate impact may remain limited as domestic inventories are currently comfortable after heavy imports earlier this year.
Chirag Sheth, principal consultant for South Asia at Metals Focus, said Bloomberg that India has ample stocks for now, but warned that prolonged disruptions could eventually affect supply if the conflict continues for several months.
Meanwhile, global gold prices have surged this year amid geopolitical uncertainty, with spot gold recently trading above $5,000 per ounce.
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March 08, 2026, 10:03 IST
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Some seven in 10 British adults without a full driving licence say learning to drive is currently unaffordable, according to a survey.
The figure is even higher among younger people, with 76% of 18 to 29-year-olds without a licence saying driving lessons are financially out of reach, the poll for car insurer Prima found.
Overall, 38% said the cost of driving lessons was the biggest deterrent to learning to drive.
Some 32% were put off by the price of buying a car and 15% said the cost of car insurance was the main barrier to learning to drive.
Almost half (45%) said they would consider learning to drive if it became significantly cheaper.
Nick Ielpo, UK country manager at Prima, said: “For a growing number of people, driving is no longer a symbol of freedom – it’s a financial stretch too far.
“Between lessons, buying a car and insuring it, the upfront and ongoing costs are pricing many people out before they even start.”
Find Out Now surveyed 1,134 adults who do not hold a full driving licence between January 21 and 23.
Go Digit General Insurance on Saturday said it has received a demand notice of about Rs 170 crore for short payment of goods and services tax (GST) for nearly five years. The company has received an order copy from the Office of the Commissioner of GST & Central Excise, Chennai South Commissionerate on March 6, confirming GST demand of Rs 154.80 crore levying penalty of Rs 15.48 crore and Interest u/s 50 of CGST Act, 2017 for the period July 2017 to March 2022, the insurer said in a regulatory filing. The company is in the process of evaluating the legal advice on the implications and would file an appeal, it said.
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