Luxury Real Estate India After RERA: Deal Structures

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Aspect of Deal Structure	Before RERA	After RERA
Project registration	Often marketed before approvals	Mandatory registration before sales
Payment structure	Front-loaded and advance-heavy	Linked to construction milestones
Fund utilisation	Fully developer-controlled	Regulated through escrow mechanisms
Delivery timelines	Indicative and flexible	Defined and legally enforceable
Delay consequences	Negotiated or unclear	Statutory penalties and interest
Buyer exit provisions	Limited clarity	Clearly defined refund and exit rights

Buying Property in Pune as an NRI? Why an Advisor Beats Going Direct to the Developer

If you are an NRI planning to buy a home in Pune, for your family or as an investment, the smartest move is not picking the flashiest project. It is picking the right person to stand between you and the developer. A good real estate advisor checks the project’s finances, approvals, construction progress and sales history, handles the paperwork, visits the site for you and stays with you long after you get the keys. That is exactly what Squarea, a MahaRERA registered advisory, does for its diverse base of NRI buyers. The rest of this guide explains why that matters, with real numbers. Why NRIs are looking at Pune right now Indians abroad are sending more money home than ever. RBI data shows India received a record $135.46 billion in remittances in FY25, up 14% from the year before. A growing part of that money is going into homes.

India’s credit standing is getting stronger. In September 2026, Japan Credit Rating Agency upgraded India’s long-term sovereign rating to A- from BBB+. This came a year after S&P raised India to BBB in August 2025, its first upgrade of India in 18 years. For NRIs, that means more confidence in the economy and the currency their money is going into.
NRI demand is rising. Industry estimates put the NRI share of total real estate investment in India at around 20% by the end of 2025, up from 10 to 15% only a few years earlier.
Big developers are seeing it first. At one of India’s largest listed developers, NRIs accounted for about 32% of sales bookings between April and December 2025, up from just 5% in FY22.
Pune is one of India’s busiest housing markets. Between 2021 and 2025, Pune recorded about 4.28 lakh registered home sales. That is roughly one home every six minutes, and 37% more than Hyderabad. In the first half of 2026, Pune sold about 43,300 new homes, more than Bengaluru (about 34,600) and Hyderabad (about 28,200).
Registrations tell the same story. Pune recorded about 1.86 lakh property registrations in 2025, and stamp duty collections of about ₹7,119 crore were the highest in four years.
Pune still offers better value. The average new home in Pune sold for about ₹83 lakh in the first half of 2026, compared with about ₹1.76 crore in Bengaluru and ₹2.02 crore in Hyderabad. Prices are rising steadily rather than sharply, at about ₹10,543 per sq ft, up 20% since the first half of 2022.

Here is the part most developers and local brokers skip: in the first half of 2026, Pune sold about 5% fewer new homes than a year earlier, yet the average ticket size rose about 9% to a record ₹83 lakh, and new launches fell to their lowest level since 2023. In simple words, fewer and pricier homes are changing hands. That makes picking the right project at the right price more important than ever, and it is easy to choose the wrong one for the wrong reasons, such as an attractive headline price or a limited period offer. This is where NRI buyers need the most guidance. The real worries of dealing with a developer directly Most NRI buyers share the same worries. Here are the big ones.

Will this project actually get finished? This is the number one fear, and it is a fair one. In July 2025, MahaRERA placed 1,244 projects in Pune district "under abeyance", which stopped them from taking new bookings and froze their linked bank accounts. The reason: developers had not filed the required completion updates or asked for extensions. Statewide, MahaRERA data showed only 17,413 of 50,986 registered projects listed as complete.A sales brochure will never tell you any of this. You have to dig into the MahaRERA portal, read quarterly progress filings and check the developer's past record. That is hard to do from Dubai, London or San Francisco.
The sales team only shows me their own projects A developer's sales team works for the developer. Their job is to sell their inventory, not to tell you that a better option exists two kilometres away. You only ever see one side of the market
I can't visit the site every few months For under construction homes, progress needs regular checking. Most NRIs can visit once a year at best. Without someone on the ground, you only know what the developer chooses to share
The paperwork and rules confuse me

As an NRI you have to follow FEMA rules, not just property law. A few that catch people out:

- NRIs can buy residential and commercial property, but not agricultural land, plantation property or farmhouses. Some "farmhouse plots" near cities are marketed to NRIs even though buying them would break FEMA rules.
- Payment has to come through normal banking channels or from your NRE, NRO or FCNR account. Cash or foreign currency paid in India is not allowed.
- You can send home the sale money of a maximum of two residential properties, and money from an NRO account is capped at USD 1 million per financial year.
- Get any of this wrong and your money can get stuck in India.
What about tax when I sell later? When an NRI sells, the buyer must deduct TDS before paying you. For long term gains (property held over 24 months), the rate is 12.5% without indexation for transfers on or after 23 July 2024, plus surcharge and cess. If you rent the property out, your tenant generally has to deduct TDS on rent too. Planning for this before you buy saves a lot of stress later. That is why, as a rule, we connect every client with our partner chartered accountants and tax advisors, who specialise in NRI property matters.
Who looks after it once I own it? Possession handover, snag lists, finding tenants, collecting rent, maintenance bills. A developer's role mostly ends at handover. Ours does not.

Developer direct vs going through an advisor Buying direct from a developer

Choice of projects: Only that developer’s projects

Whose interest comes first: The developer’s sales targets

Project and RERA checks: You do it yourself

Site visits: You need to fly down

FEMA, documents, Power of Attorney: Mostly left to you

Home loan and NRE/NRO support: Limited to their tie up banks

Tax advisory: Not offered, you find your own CA

After possession: Support usually ends

Buying through Squarea

Choice of projects: Options across many developers and locations

Whose interest comes first: Finding the right fit for you

Project and RERA checks: Done for you before you shortlist

Site visits: Live video walkthroughs from the site

FEMA, documents, Power of Attorney: Guided step by step

Home loan and NRE/NRO support: Help comparing options through partners

Tax advisory: Access to our partner CAs and tax advisors

After possession: Rental, upkeep and resale help

How Squarea makes buying from abroad simple Squarea Consulting Pvt. Ltd. is a MahaRERA registered real estate advisory based in Pune (MahaRERA Reg. No. A52100040725). You can verify this yourself on the MahaRERA website. We work across many developers and projects, so we are not tied to selling any one developer's stock. Our focus is simple: find the home that fits your goal. Here is how we help at each stage. Before you buy: virtual site visits. See the project, the actual unit and the neighbourhood through live video walkthroughs. You can ask questions in real time and decide without booking a flight. While you buy: documents, legal checks and Power of Attorney. We help check the project's MahaRERA status and title, guide you on the right Power of Attorney so someone you trust can act for you in India, and support you through agreement and registration. Paying for it: home loan and NRE/NRO guidance. We help you understand which account to pay from, how that affects repatriation later, and connect you with home loan options built for NRIs. After you buy: post purchase support. From possession handover and snag checks to finding tenants, managing the home and planning a resale, we stay with you long after the deal is done. Whether you want a home for your parents, a place to return to one day, or a rental income property in Pune, the goal is the same: you make a clear, informed decision, and nothing important is left to chance. Quick checklist before you book any property

Check the project on the MahaRERA website and read its latest progress update.
Confirm the land is not agricultural or plantation land.
Decide whether you will pay from your NRE, NRO or FCNR account, and know what it means for repatriation
Set up a Power of Attorney if you will not be in India for registration.
Ask for a written payment schedule linked to construction stages.
Plan who will manage the home after possession.

Frequently asked questions

Can NRIs buy property in Pune? Yes. NRIs can buy residential and commercial property in Pune and anywhere in India. Only agricultural land, plantation property and farmhouses are off limits.
Do I need to come to India to buy property? Not always. With virtual site visits and a properly drafted Power of Attorney, many NRIs complete most of the process from abroad.
Can I take the money back when I sell? Yes, within FEMA limits. Sale proceeds of up to two residential properties can be sent back, as long as the purchase followed FEMA rules.
Is an advisor more expensive than buying direct? Our fees are simple and shared upfront: 1% of the property value for homes under ₹1 crore, and 2% for homes of ₹1 crore and above. In many cases, better negotiation, or avoiding a stuck project or a tax mistake, saves far more than the fee.

Talk to a Squarea advisor on WhatsApp Planning your NRI property investment in Pune? Message a Squarea advisor on WhatsApp at +91 7058259609 at a time that suits your time zone. Tell us your budget and goal, and we will share a shortlist of checked, MahaRERA registered projects. Figures in this article are based on data from the RBI, MahaRERA, IGR Maharashtra and leading real estate research reports available at the time of writing, and have been reviewed by Squarea’s Knowledge Hub and Transaction Management teams. Tax and FEMA rules change, so please check the latest position with us before you act.

9 July 2026

India’s Branded Residences Boom

60%+ Growth Projections Signal a Luxury Market Transformation in 2026 and Beyond

60% - Projected India growth by 2027
30-40% - Price premium over standard luxury
6th - India's global rank, live projects
19% - Global YoY growth in branded schemes

KEY TAKEAWAYS

The market is projected to grow nearly 60% by 2027, with some forecasts pointing to as much as 200% by 2031.
Buyers are paying 30-40% more, and getting stronger resale value and rental yields in return.
NRIs from the Middle East, UK and US are driving significant capital into this space.
Not every project justifies the premium; due diligence on the brand agreement and developer track record is critical.

The Indian branded residences segment is considered one of the rapidly developing segments within the luxurious real estate market of the country, which will witness nearly 60% growth till 2027 owing to increasing demands from wealthy Indians, Non-Resident Indians (NRIs), and international brands (Business Standard, 2026). Such homes are sold at almost 30-40% higher prices compared to ordinary luxurious homes because of the design features and services provided along with their investment value. Based on our experience in real estate, banking, and financial services from India and Dubai, we have observed that. India currently ranks 6th worldwide for live branded residence projects, accounting for approximately 4% of global supply and stands in the top 10 for upcoming pipeline.

01 - THE CATEGORY

Understanding Branded Residences: What Makes Them Unique?

Branded residences are developed in partnership with global brands, typically from hospitality, fashion, design or lifestyle sectors, who contribute their design language, operational standards and reputation. Unlike conventional luxury housing, they offer:

Curated interiors and architecture aligned with the brand's DNA
Hotel-style amenities and concierge services
Dedicated property management and wellness facilities
Enhanced resale value and rental yields due to brand association

Global schemes are set to rise 19% year-on-year, from 764 (2024) to 910 (2025), with Asia Pacific supply up 55% over five years, led by India, Thailand and Vietnam (Savills, 2025). India ranks 6th worldwide for live projects, at about 4% of global supply, and sits in the top 10 for pipeline (Knight Frank, 2025).

02 - GROWTH DRIVERS

Key Drivers Fueling India's Branded Residences Boom

Surging HNWI and NRI wealth: rising incomes are creating a new generation of luxury buyers, while NRIs from the Middle East, UK and US channel significant capital into Indian real estate.
Developer-brand collaborations: Armani/Casa (Lodha, Mumbai), Trump Towers (Mumbai, Gurugram, Pune), Four Seasons (Mumbai, Bengaluru), and lifestyle brands like Versace Home and YOO.
Strong market fundamentals: India's premium housing segment (₹5-20 crore+) is on an upcycle, with buyers prioritizing larger homes and lifestyle upgrades.
Global brand interest: international brands see India as a high-growth frontier, given urbanization and improving infrastructure in Mumbai, Delhi-NCR, Bengaluru, Pune and Goa.
Investment appeal: branded properties deliver stronger capital appreciation and rental yields as both a home and a diversified asset.

03 - SCALE & GROWTH

Current Scale and 60%+ Growth Projections

India is projected to grow nearly 60% by 2027, with some forecasts as high as 200% by 2031 (Business Standard, 2026; Savills, cited in Zee News, 2025). Hotspots include Mumbai (Worli, Lower Parel), Delhi-NCR (Gurugram), Bengaluru, Pune, and select vacation destinations.

04 - THE FLAGSHIP PROJECTS

Spotlight on Major Branded Residence Projects in India

Lodha World One & World Towers, Mumbai — Armani/Casa: One of Mumbai's most prestigious addresses; benchmark for design collaboration at scale
Trump Towers Mumbai (Worli) — Trump Organisation: Ultra-luxury units ranging from ₹6 crore to over ₹20 crore
Trump Towers Gurugram — Trump Organisation: Large-scale multi-tower development with extensive amenities in Delhi-NCR
Four Seasons Private Residences, Mumbai & Bengaluru — Four Seasons: Hospitality-grade service culture brought into a residential ownership model
YOO Inspired by Starck projects — Philippe Starck / YOO: Fashion-forward design identity as a residential differentiator
Versace Home affiliated developments — Versace: Signals expanding appetite for fashion and lifestyle brands beyond hospitality

These projects typically feature sky villas, private elevators, wellness spas, infinity pools and round-the-clock concierge services.

05 - THE INVESTMENT CASE

Benefits of Investing in Branded Residences

Price Premiums: 30-40% higher selling prices, with stronger long-term capital growth.
Lifestyle Elevation: hotel-style services reduce the burden of ownership while delivering exclusivity.
Rental Yields: easier to attract premium tenants, including expats and HNWIs.
Status & Recognition: association with brands like Armani, Four Seasons, Trump or Versace adds prestige.
Diversification: a hedge against market volatility for domestic and international investors.

06 - WHAT TO WATCH

Challenges and Considerations for Stakeholders

Regulatory and legal complexities: Blurred lines between residential and hospitality raise questions around RERA and approvals; clear contracts and local expertise are essential.
Brand-developer alignment: Long-term agreements (often 10-30 years) must balance brand standards with local realities.
Execution risk: Consistent hospitality-level service demands robust operations; under-delivery damages both developer and brand.
Market saturation: As more projects launch, justifying premiums gets harder in some micro-markets.
Economic sensitivities: Interest rates, geopolitics and currency fluctuations can affect NRI and investor sentiment.

07 - WHAT'S NEXT

Future Outlook: 2026-2030

India's branded residences boom shows no signs of slowing, with continued HNWI wealth creation and global brand interest set to drive sustained double-digit growth (Business Standard, 2026).

Expansion beyond Tier-1 cities into emerging luxury destinations
Rise of wellness, sustainability and smart-home features
More fashion, automotive and lifestyle brand entrants
Stronger India-Dubai and broader international capital flows

Developers should aim for genuine brand fit; investors should do thorough due diligence on developer history, brand strength and legal structure. The future of luxury real estate in India is branded and it is arriving faster than most expected.

25 May 2026

Capital Gain Planning in Luxury Real Estate: Why It Starts Before Purchase

What ultimately determines the success of a luxury real estate investment: the purchase price or the exit strategy? For many investors, the answer becomes clear only when the property is sold, and capital gains tax comes into play. In high-value real estate transactions, the way capital gains are taxed can influence your final return. What many investors overlook, however, is that capital gain planning rarely begins at the time of sale. In reality, several of the decisions that shape your tax outcome are made much earlier, when you first acquire the property. Understanding Capital Gains on Luxury Property In India, profits earned from the sale of property are taxed under the “Capital Gains” head of the Income Tax Act, 1961. The applicable tax treatment depends primarily on the holding period of the property.

Holding period classification: If you sell a property within 24 months of purchase, the gain is treated as a short-term capital gain.
Short-term taxation: Short-term gains are taxed according to your applicable income tax slab.
Long-term taxation: If the property is held for more than 24 months, the gain is treated as long-term capital gain and taxed at 12.5 percent without indexation or 20 percent with indexation, depending on the applicable provisions. (ClearTax)

Even though these rules apply at the time of sale, the final tax outcome is often influenced by decisions made much earlier in your investment lifecycle. Tax Provisions That Influence Capital Gains Outcomes Certain provisions within the Income Tax Act allow investors to manage or reduce capital gains tax if the investment is structured carefully.

Section 54: Capital gains exemption may be available if the proceeds from selling a residential property are reinvested in another residential property within the prescribed timelines.
Section 54EC: As an investor, you can even claim exemption by investing your capital gains in specified government-notified bonds within six months of the sale.
Section 54F: Exemption may be available when you sell a capital asset other than a residential property and reinvest the proceeds in purchasing a residential home. This is subject to the prescribed conditions.
Indexation benefits: Adjusting the cost of acquisition for inflation can reduce taxable long-term gains where indexation is applicable. (ClearTax)

Because these provisions depend on timing, documentation, and reinvestment decisions, they highlight why capital gains planning should begin well before the property is purchased. Why Capital Gain Planning Should Begin Before Purchase Although your capital gains tax will be triggered at the time of sale, many of the factors that influence the final tax liability are determined much earlier at the time of acquisition. Several early decisions can shape your future tax outcome:

Ownership structure: Whether you purchase the property individually, jointly, or through another structure can influence how gains are distributed and taxed when the asset is sold.
Purchase price documentation: Maintaining clear documentation of the acquisition cost helps ensure accurate capital gains calculation in the future.
Improvement cost tracking: Renovation, interior work, and other improvement expenses can often be added to the cost base, reducing taxable gains when you eventually sell the property.
Holding horizon planning: Structuring your investment with a clear long-term holding period can help ensure eligibility for long-term capital gains treatment.
Exit strategy clarity: Understanding how long you intend to hold the asset allows you to plan reinvestment strategies and potential exemptions more effectively.

These factors highlight why capital gains outcomes are rarely shaped only at the time of sale. Instead, they are influenced by how thoughtfully the investment is planned and managed from the beginning. Strategic Considerations for Luxury Property Investors If you are evaluating a luxury residential investment, capital gain planning should ideally form part of the early decision-making process.

Define your holding timeline: Longer holding horizons can often improve tax efficiency by qualifying the investment for long-term capital gains treatment.
Plan ownership carefully: The ownership structure you choose can influence how gains are taxed and distributed.
Maintain disciplined documentation: Keeping detailed records of acquisition costs and improvement expenses can reduce future tax complications.
Align with broader wealth strategy: Luxury property investments should ideally fit within your wider financial and tax planning framework.

When these elements are considered early, capital gains taxation becomes easier to manage and less likely to create unexpected financial outcomes. This allows you to approach luxury real estate not just as an asset purchase, but as a thoughtfully structured long-term investment. At SQUAREA, we help discerning investors navigate luxury residential opportunities with a clear view of the financial and tax implications that shape long-term returns. For tailored investment guidance, reach out at hello@squarea.io or call +91 90 9641 9641.

Luxury Real Estate After RERA: How Deal Structures Have Evolved