The definition of luxury is ever-changing with evolving buyer preferences and the luxury housing segment has drastically shifted in the last few years. Homebuyers are globe trotters seeking the ultimate blend of luxury and technology and are drawn toward properties that epitomize convenience and a mindful lifestyle. The emergence of smart home technology and the idea of sustainable living has become the talk of the town, and are leading the trends of luxury homes.
Sandeep Chillar, Founder & Chairman of Landmark Group, expressed his outlook toward this trend, said, “The future of luxury living puts innovation at the forefront, incorporating smart technology and sustainable features and how these elements are surely redefining modern luxury. Earlier, the opulence and grandeur were synonymous with luxury homes, and now complemented by sustainable lifestyle and technology, the enhanced version of bespoke luxury homes stands out.”
With the transforming lifestyle of buyers, the luxury housing market in Delhi-NCR is booming, highlighting an upsurge in the demand for high-end living. The trend is tremendously reflected more in Gurugram’s luxury housing market, where buyers strategically focus on seeking lavish living spaces comprising of all facets of modern living with the finest of modern amenities, he added.
Amid the rising demand, Delhi-NCR has led a notable upswing in luxury housing Q1 2024, with sales outpacing other segments. Today’s high-end homeowners are more conscientious about their environmental footprint and increasingly seek ways to live harmoniously with nature. As per a report by Anarock, the 21% share of total housing units’ sales across the top 7 cities in Q1 2024 was of luxury housing. This is a jump of threefold compared to the first quarter of 2019.
Yukti Nagpal, Director at Gulshan Group, underlines the increasing allure of eco-conscious amenities in the luxury real estate market. “Today’s luxury buyers are not just looking for luxury; they seek a lifestyle that mirrors their environmental values. Features such as rooftop gardens, solar-powered amenities, and sustainable materials are becoming essential in high-end properties,” she explains. “These elements enhance the aesthetic and functional appeal of luxury homes and resonate deeply with buyers who prioritize environmental responsibility. They represent a significant shift in the market, where luxury and sustainability are no longer mutually exclusive but are intertwined to create a harmonious living environment.”
According to a report by Anarock, the share of luxury homes sold in India has tripled over the past five years. The upward trend in sales builds a strong economic foundation for the luxury property market and the increasing desire for unique living experiences among affluent Indian homebuyers.
Sachin Gawri, Founder and CEO, of Rise Infraventures, 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 high-end amenities, these features set new benchmarks in the luxury housing sector. Further, eco-friendly materials and energy-efficient designs are taking centre stage, allowing residents to live luxuriously and protecting the environment simultaneously. Hence, we can anticipate a strong demand and continued growth in luxury homes with these features shaping the real estate landscape in the coming years.”
In the past, homebuyers preferred luxury homes characterized by sheer size, extravagant design elements, and lavish amenities. However, as discerning homebuyers become more aware of their environmental impact, the definition of luxury is shifting towards more meaningful and sustainable living. Epitomizing convenience and personalization, the perfect blend of green scapes, open areas, integrated intelligence, and a touch of personalization are creating tailored living experiences. Buyers demand bigger spaces with modern amenities, splendid architectural layouts, and meticulous sustainable design to ensure experiential living.
Ashwani Kumar, Pyramid Infratech, said, “Apart from seeing opulence, affluent buyers look for homes that underscore their commitment to sustainability. Besides, with the advent of smart home technology, luxury homes have undergone a massive transformation over the years. The mindful lifestyle and technological advancements have brought key trends in luxury homes. Smart technology defines new-age luxury homes tailored to one’s needs and requirements. As the high-end market in Delhi-NCR is on an upward trajectory, we can anticipate that in the coming time, this trend will further drive the demand, will garner interest from investors globally, and will give high returns and appreciation.”
The trend leads to the incorporation of eco-friendly materials and energy-efficient systems into the luxury real estate market. In terms of materials, sustainable yet luxurious elements like reclaimed wood or biodegradable fabrics are gaining prominence. Thus, by incorporating sustainable materials, luxury properties can offer both aesthetic appeal and a reduced environmental footprint, meeting the high standards of today’s discerning, eco-conscious luxury buyers.
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