Branded Residences in Emerging Markets: Is India Ready for a Luxury Real Estate Boom?

      By SQUAREA Knowledge Hub

      Published: April 7, 2025

      Real Estate in Pune - Branded Residences in Emerging Markets: Is India Ready for a Luxury Real Estate Boom?

      India’s luxury real estate market is undergoing a quiet transformation. Beyond aesthetics and prime addresses, homebuyers today are placing increasing value on identity, trust, and differentiated experiences. This shift is opening up space for branded residences in India—homes developed in collaboration with global names in hospitality, fashion, and design.

      Branded homes in India are beginning to resonate with a growing base of affluent buyers who seek more than conventional luxury. As expectations evolve and emerging real estate markets in India gain prominence, these projects are steadily making their way into mainstream investment conversations.

      The question now is whether India’s evolving market conditions can support a larger branded residential footprint. The answer lies in the numbers, the evolving buyer mindset, and the cities reshaping the future of luxury real estate in India.

      India’s Accelerating Luxury Real Estate Market

      To understand the rise of branded residences, we must first look at the overall trajectory of the luxury real estate market. According to Mordor Intelligence, India’s luxury residential real estate market is expected to grow from USD 44.11 billion in 2025 to USD 118.30 billion by 2030, at a CAGR of 21.81% during this period.

      This growth isn’t just about market size—it reflects a steady shift in buyer confidence. India’s expanding economy, rising incomes, and greater financial awareness are contributing to stronger demand in the premium housing segment.

      Luxury today is no longer limited to inherited wealth. Luxury buyers include first-generation entrepreneurs, professionals, and investors who are more attuned to global design, service, and lifestyle benchmarks. As this base grows, so does interest in luxury real estate in India—and particularly in branded residences.

      Luxury Home Sales and the Shift Towards Branded Living

      The appetite for homeownership, particularly in the upper-mid and luxury categories, has seen a remarkable shift. In 2024, India witnessed record-high residential sales of 302,867 units—an 11% year-on-year increase. Average annual sales during 2022–2024 surpassed pre-pandemic (2010–2019) averages by 63%, underscoring a permanent behavioural change in the housing market (JLL).

      Bengaluru, Mumbai, and Pune led the market, accounting for 62% of annual sales across the top seven cities. This performance highlights not just volume but rising confidence in premium segments, even amid sustained price appreciation.

      As more buyers prioritise design, privacy and service-backed living, the jump to branded residences in India becomes a natural progression. The growing comfort with premium pricing is further opening the door for branded homes in Pune and beyond.

      Branded Living: Why It’s More Than Just a Name

      This surge in luxury demand isn’t just about size or square footage. Today’s affluent homebuyer seeks experiences that blend design, service, and investment value. Branded residences deliver on all three fronts, offering globally curated aesthetics, hospitality-grade amenities and the trust that comes with established names.

      For developers, these partnerships elevate brand equity and differentiation. For buyers, they provide:

      • Assurance of quality and service
      • Global design and lifestyle sensibilities
      • Limited inventory and curated communities
      • Stronger resale value and long-term asset credibility

      As demand shifts toward long-term liveability and legacy asset creation, branded residences in India are emerging as a new language of premium real estate. This shift is being strongly reinforced by one of the most significant drivers of change in Indian real estate—the expansion of individual wealth.

      India’s Growing Wealth Base and the Future of Branded Real Estate

      The demand for branded residences is closely tied to the rise of India’s affluent population. According to the Knight Frank Wealth Report 2024, the number of ultra-high-net-worth individuals (UHNIs)—those with a net worth of USD 30 million or more—is projected to grow by 50%, reaching nearly 20,000 individuals by 2028.

      • Trust in global names
      • A consistent experience standard
      • Future asset appreciation

      This shift is further reinforced by projections from NAREDCO and Housing.com, which estimate that India’s branded residences segment will touch USD 5 billion by 2025. The segment’s expansion has been driven not just by rising disposable incomes but by the growing aspirational appeal of globally branded homes—offering a combination of design, trust, and legacy that traditional luxury formats often lack. Notably, this demand is no longer limited to metro cities alone, with emerging real estate markets in India steadily becoming hotspots for brand-aligned living.

      Why Emerging Markets Are Now in Focus

      While Mumbai and Delhi continue to dominate luxury real estate headlines, it is India’s emerging markets that are fuelling the next wave of growth. Cities like Pune, Hyderabad, and Ahmedabad are now delivering luxury at global standards, with the infrastructure, talent density, and buyer profiles to support it.

      Pune, in particular, has become a hub for branded homes. Projects such as Trump Towers Pune, YOO Pune, YOO Villas, and FashionTV-branded residences have already proven the city’s readiness for design-led global partnerships.

      With improved connectivity, rising launch volumes, and a more discerning luxury buyer base, cities like Pune are offering the perfect intersection of aspiration and affordability.

      India’s Luxury Real Estate Story Is Entering a New Chapter

      India’s luxury real estate market is entering a new phase—defined by maturity, investor confidence, and global alignment. And as India continues to grow in affluence and urban sophistication, branded residences in India are set to become a defining feature of the next wave of luxury living.

      At SQUAREA, we specialise in helping investors and end-users access India’s most iconic branded residences. Whether you’re seeking a globally designed home, a strategic long-term asset, or a lifestyle that reflects your achievements, our team is here to guide you with detailed market insights.

      Connect with us at hello@squarea.io or call +91 90 9641 9641 to explore exclusive opportunities in India’s evolving luxury real estate landscape.


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      11 September 2025
      High-Activity Micro Markets Real Estate: Unlocking the Next Wave of REIT Investment

      India’s commercial real estate is undergoing a transformation. REIT in India office market have gained momentum as investors seek liquidity, stability, and institutional quality. At the same time, capital is concentrating in high-activity micro markets of real estate, which are demonstrating the greatest resilience, scale, and REIT readiness. This progression brings the focus to REITs and their growing role in shaping the future of India’s office market.

      What is a REIT

      A Real Estate Investment Trust (REIT) allows individuals to invest in income-generating property portfolios with the benefits of liquidity, transparency and regular distribution, attributes that align strongly with the risk-mitigation and yield-preservation goals of Indian HNIs and UHNIs. As India’s real estate market matures, REITs offer both institutional access and greater market sophistication.

      To understand the opportunity, it is essential to first examine how the REIT market in India has evolved and where it currently stands.

      The Current REIT Landscape in India

      India now holds approximately 488 million sq.ft of REIT-worthy Grade A office space, with 56% of that stock concentrated in the top 10 micro markets. Within these hubs, a striking 72% of Grade A inventory, nearly 275 million sq ft, is either already listed under existing REITs or has the potential to be listed in the future. (Colliers)

      Such concentration makes it clear that the future of REITs will be shaped not at the city level alone but within specific micro markets that consistently attract occupiers and capital.

      How Occupier Demand Makes Micro Markets REIT-Ready

      Not all office corridors meet REIT standards. Only those with scale, liquidity, rental visibility, and a strong occupier base can deliver institutional confidence. These qualities become most visible when we look at leasing patterns across India’s top hubs.

      • Flex space leasing: Since 2020, out of 38 million sq ft leased across the top seven cities, 59% occurred in the top 10 micro markets. Demand has grown from 1.3 msf in 2020 to 7.3 msf in 2024, at a CAGR of 54%.
      • GCC leasing: Global Capability Centres (GCCs) - 70 million sq ft of demand over the past five years, are concentrated in the same micro markets, accounting for 73% of national GCC leasing.
      • High-performance corridors: Key hubs like ORR-Bengaluru, SBD-Hyderabad, and Baner-Balewadi in Pune together drive about one-third of India’s flex demand. (Colliers)

      These occupier dynamics explain why such high-activity hubs dominate the REIT in the Indian office market, and also highlight why Pune micro markets attract REIT investors seeking both stability and growth.

      Pune: India’s Emerging REIT Powerhouse

      Pune is increasingly centre-stage in this narrative. Colliers identifies three of India’s top 15 high-activity micro markets here - Baner-Balewadi, Hinjewadi, and Kharadi. These hubs offer a compelling mix of affordability, scale, and tenant stickiness.

      • Cost-efficiency with value: Rentals in Pune remain more competitive than in Mumbai or Bengaluru, offering stronger value growth.
      • Occupier stickiness: GCCs choose Pune for its cost advantage and talent retention. Flex operators are following suit.
      • Diversified demand: From IT/ITeS to BFSI and manufacturing, the city benefits from a healthy mix of occupiers.
      • Infrastructure tailwinds: Rapid improvements in connectivity support long-term absorption and rental momentum.

      As a result, REIT-ready Grade A office spaces Pune are now being considered alongside Bengaluru and Hyderabad, positioning the city firmly on the radar for commercial real estate investment Pune 2025.

      With Pune office market REIT potential firmly established, the focus now shifts to assessing how REITs and high-activity micro markets across India are poised to shape the next phase of institutional investment.

      Outlook for 2025 and Beyond

      High-activity micro markets are set to remain the backbone of India’s REIT growth story in the years ahead. The interplay of occupier demand, institutional confidence, and evolving asset quality points to a maturing market with sharper opportunities.

      • Occupier demand stays strong: Flex adoption and GCC expansion are expected to continue at pace, ensuring steady absorption.
      • Rising REIT penetration: Analysts project office REIT share could climb to 25-30% by 2030, deepening institutional participation. (IBEF)
      • Sustained rental growth: Grade A corridors in southern cities and Pune are forecast to deliver stable appreciation supported by high-quality tenants.
      • ESG-led premium: Green-certified assets are increasingly attracting occupiers, creating higher occupancy and rental upside

      Together, these dynamics underscore why HNIs and UHNIs should align portfolios with high-activity corridors, where REIT ready commercial properties in Pune and other leading cities provide both resilience and growth potential.

      At SQUAREA, we specialise in bridging discerning investors with curated access to these premium, REIT-ready office corridors. To explore the best office micro markets for REIT investment in India and beyond, connect with us at hello@squarea.io or call +91 90 9641 9641.

      11 September 2025
      Real Estate as an Inflation Hedge: Protecting Wealth in Uncertain Times

      Rising inflation has become a defining challenge for investors worldwide. It eats into cash reserves, compresses returns from fixed income products, and often adds volatility to equity portfolios. For Indian HNIs and UHNIs, this means only traditional allocations may no longer guarantee long-term security. The search is for inflation proof investments in India that not only preserve wealth but also deliver growth. Among available options, real estate as an inflation hedge has consistently demonstrated its resilience.

      India’s performance in recent quarters illustrates this strength. According to Knight Frank’s Global House Price Index, Indian residential prices grew 7.7% annually in Q1 2025 in nominal terms and 4.2% in real terms. The country ranked 15th out of 55 tracked markets, ahead of mature destinations such as the US, UK, and Australia. Quarterly, prices rose 2.9%, showing steady buyer confidence even as borrowing costs shifted. This momentum reinforces real estate’s role in protecting wealth during inflation. (Knight Frank)

      Why Inflation Demands a Hedge

      Inflation reduces the real value of money. For investors, this erosion means that returns from cash, deposits, or bonds can quickly fall below the inflation rate, leaving portfolios exposed. Equities, though offering higher potential returns, remain subject to volatility and cyclical risks.

      This is why investors prioritise assets that retain value during inflationary periods. Real estate investment India has historically shown its ability to absorb shocks, maintain capital, and generate income streams that adjust alongside rising prices.

      Why Real Estate Resists Inflation

      Real estate has several structural features that make it resilient in inflationary times. These factors distinguish property from other asset classes that tend to underperform when prices rise.

      • Tangible utility: Land and property remain usable and scarce, preserving intrinsic value even as currency weakens.
      • Inflation-linked rental income: Rental contracts often include escalation clauses, keeping yields aligned with cost increases.
      • Rising replacement costs: Higher input costs for land and construction naturally push asset values upward.
      • Diversification benefit: Real estate has a low correlation with equity and debt, providing balance in a portfolio.

      These attributes show why property is often viewed as the strongest asset in the real estate vs inflation equation, offering a practical and proven hedge. While fundamentals are global, India’s market performance in recent years shows them playing out with particular strength.

      India’s Market Momentum and Resilience

      The Indian residential market is demonstrating exactly how real estate performs under inflationary pressure. Transparency reforms, stable demand, and investor confidence have built a strong foundation.

      • HNI allocations: HNIs are increasing property allocations as defensive portfolio anchors
      • Balanced supply-demand: Housing absorption in top metros continues to exceed new launches, creating sustained upward pressure on prices
      • Capital inflows: JLL data shows private equity investments into Indian real estate exceeded USD 8.9 billion in 2024, reflecting deep institutional conviction (Construction Week)
      • Expanding corridors: Cities such as Pune, Bengaluru, and Hyderabad are leading with infrastructure-driven growth, boosting capital appreciation prospects.

      These fundamentals make real estate investment in India not just a defensive move, but also a growth-led strategy. However, not all property types perform the same - residential, commercial, and alternatives each play distinct roles in hedging inflation.

      Real Estate Asset Classes That Hedge Inflation

      Residential as the Core Anchor

      Residential property is the most direct hedge, with ownership preferred during inflation.

      • Luxury sales: DLF and Godrej report record demand in premium housing
      • Branded residences: Savills notes 30-35% premiums for brand-led projects
      • End-user stability: Self-use buyers add resilience against speculation.
      Commercial and Alternatives

      Commercial and emerging formats add further resilience.

      • Offices: Grade A office rentals across a few Indian cities rose 8-9% year-on-year in 2024 (Anarock)
      • Logistics: E-commerce demand keeps yields above inflation
      • Co-living and student housing: Growing segments with stable, index-linked income
      • REITs: Regulated, liquid access to commercial portfolios

      Recognising these opportunities is one part of the equation. The next step is knowing how you can strategically allocate capital to capture them.

      Strategic Pathways for HNIs and UHNIs

      For sophisticated investors, the key lies not only in recognising real estate’s inflation resilience but in building portfolios strategically.

      • Target prime city centres and infrastructure-led corridors for assured appreciation
      • Blend residential, commercial, and alternative assets to balance yield and growth
      • Prioritise branded residences and Grade A offices for liquidity and long-term value retention
      • Align with sustainability trends, as green-certified projects are increasingly commanding premium valuations

      By combining these approaches, investors can transform property from a defensive shield into a driver of long-term wealth creation. For HNIs and UHNIs seeking to secure their legacies, Indian property offers not only resilience but also significant upside.

      At SQUAREA, we specialise in crafting investment strategies that anchor portfolios against inflationary pressures while unlocking growth potential. To explore curated opportunities in India’s most resilient markets, connect with us at hello@squarea.io or call +91 90 9641 9641.

      1 August 2025
      Why End-Use Buyers Should Consider Under-Construction Projects

      End-use buyers face a strategic decision — whether to acquire a ready-to-move-in residence for immediate occupancy or to allocate capital towards an under-construction asset. While the latter has historically been associated with higher delivery risk, the landscape in 2025 is notably different. Projects are now governed by RERA-backed regulatory oversight, stringent escrow compliance, and developer accountability.

      This evolving ecosystem has redefined the relevance of under-construction inventory, particularly for Indian HNIs and UHNIs seeking customisation, capital efficiency, and future-ready design. As these dynamics continue to shape the market, it becomes essential to assess the strategic value this segment can offer. To understand the continued relevance of this segment, let’s explore the key benefits of under-construction property in 2025 for end-users.

      Advantages of Booking an Under-Construction Property as End-Users

      In 2025, the question of "should I buy an under-construction flat" is best answered by examining its strategic merits. For end-users in the luxury segment, these properties offer distinct advantages when backed by due diligence and credible delivery.

      1. Price Advantage at Entry

      Under-construction homes are priced lower than their ready-to-move counterparts in the same location. In high-demand corridors such as Pune’s western suburbs or Gurgaon’s Golf Course Extension Road, the price differential can range from 10% to 30%. (Sobha)

      This lower base cost not only enhances affordability but also improves long-term capital appreciation, especially in projects completing within the next 18–36 months.

      2. Capital Appreciation Potential

      For buyers not in need of immediate possession, entering early in a project cycle enables higher asset appreciation by the time of completion. This is particularly relevant in micro-markets undergoing infrastructure upgrades, such as Mumbai’s New Cuffe Parade or Pune’s Kharadi.

      Additionally, developers often increase pricing in tranches as construction progresses, allowing early buyers to benefit from structured value escalation.

      3. Flexible Payment Structure

      Unlike ready properties, under-construction homes offer construction-linked payment plans. This phased disbursement allows buyers to align payments with liquidity events or staggered capital deployment, thereby reducing financing pressure.

      It also enables financial planning that matches project milestones with investment goals, particularly useful for buyers funding the purchase through asset reallocation or staggered divestments.

      4. Customisation and Configuration Flexibility

      Developers of high-end projects typically allow limited customisation in flooring, layout, electricals, or interior finishes if the unit is booked in early phases. This flexibility is especially valuable for end-users seeking to tailor a home to their lifestyle or future requirements.

      Completed units, on the other hand, may require costly retrofits or compromise on layout, which is non-ideal for long-term habitation.

      5. Access to Newer, More Efficient Inventory

      Under-construction homes often incorporate newer materials, design efficiencies, and technology integrations. These include better energy ratings, improved ventilation systems, smart home readiness, and modern security systems.

      Buyers entering these projects secure residences that are aligned with the latest in home technology, both in terms of functionality and long-term market relevance.

      5.Greater Choice in Unit Selection

      Buyers of under-construction projects generally have access to a wider range of unit configurations, views, and floor elevations. This enables selection that aligns with long-term value, whether in terms of Vastu compliance, sunlight exposure, or exclusivity of position.

      This flexibility diminishes significantly once the project is completed and only residual inventory remains.

      Tax Efficiency on Home Loan Repayment

      Under-construction properties offer notable tax benefits for end-use buyers financing their purchase through home loans. End-use buyers of under-construction homes can claim up to ₹2 lakh per annum on interest under Section 24(b) and ₹1.5 lakh on principal repayment under Section 80C after possession. An additional deduction of ₹50,000 under Section 80EE or ₹1.5 lakh under Section 80EEA may also apply for eligible first-time homebuyers, depending on loan sanction timelines and conditions. (ClearTax) Given these fiscal advantages, along with the structural and design benefits, it is worth assessing how under-construction property advantages for end-users compare against ready-to-move-in properties across key decision parameters.

      Under-Construction vs Ready-to-Move Homes

      To assist end-use buyers in evaluating both options, here is a comparison of under-construction vs ready-to-move homes in India:

      Parameter Under-Construction Homes Ready-to-Move Homes
      Price Point Lower entry price Premium priced
      Customisation High (during early phases) Limited or costly
      Payment Structure Staggered, construction-linked Lump-sum or full at possession
      Availability Wide unit choice Limited inventory
      Capital Appreciation High potential pre-possession Lower due to near-peak pricing
      Immediate Use No Yes

      Under-construction homes are no longer speculative ventures. When selected with diligence, they present a compelling mix of strategic location, modern design, and financial advantage.

      For buyers exploring this segment, a home buying guide for under-construction projects should start with three pillars: regulatory compliance, developer track record, and capital alignment. These form the foundation for a confident, forward-looking investment.

      At SQUAREA, we offer curated access to India’s premium real estate opportunities, selected for their financial, legal, and execution credibility. For tailored investment guidance, reach out at hello@squarea.io or call +91 90 9641 9641.