Indian Economy News

India breaks into top-10 branded residency markets

India has emerged as one of the top 10 global markets for branded luxury residences, with a projected growth of nearly 200% by 2031, according to Savills India, a leading real estate services provider. This significant milestone marks a turning point for the country's luxury real estate landscape. The Asia Pacific (APAC) region is poised to rival North America over the next decade, despite increasing market shares in the Middle East and Africa. The appeal of resort-style living is driving this growth, particularly in the mid-scale to upper mid-scale segments, which are gaining traction among investment-focused buyers who increasingly favour rental programmes. Global brands such as Marriott's Ritz-Carlton and St Regis are expanding into India, leveraging their overseas dominance. For discerning buyers, the focus is now on service, identity, community, and long-term brand trust, said CEO and MD of TARC Ltd. Mr. Amar Sarin. Globally, branded residences have found strong traction, with hundreds of delivered projects and many more in the pipeline. The trend is especially evident across the APAC region, where several markets are expanding at a fast clip. As the global momentum around branded residences continues to grow, it is those developers who seamlessly integrate brand ethos, experience, and cultural authenticity into their developments who will define the future of high-end real estate.
While APAC accounted for nearly a quarter of branded residences globally from 2018 to 2020, it subsequently began conceding market share to the Middle East and Africa, and more moderately to Europe. However, the Middle East and Africa's growth is largely limited to three countries, while APAC ranks twice as many countries in the top 30 for branded residential activity. Markets that are relatively underdeveloped in this segment offer substantial opportunity for ultra-luxury residential developments that emphasise lifestyle, design, and service excellence. Director of strategy at Whiteland Corporation, Mr. Sudeep Bhatt, said that the rising demand for lifestyle-driven, globally benchmarked living spaces underscores the enormous opportunity for India to emerge as a global hub for branded residences. Whiteland's move to partner with Marriott International to launch Westin Residences Gurugram is not only one of India's first but also globally the largest Westin-branded residences and the country's largest standalone branded residential development.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.