He said demand in the segment is supported by long-term factors such as wealth preservation, portfolio diversification and evolving lifestyle preferences, with younger HNIs also entering the market as part of broader investment allocation strategies.
Ohri noted that luxury residential projects are influenced by scarcity, brand positioning and curated community living, which in turn is contributing to stronger capital value creation over time. He added that resale demand has remained steady even at higher price points, supported by a relatively niche but consistent buyer base.
Strong traction in premium and ultra-luxury projects
He said demand momentum remains visible across Mumbai, Gurugram and Delhi, with the segment gradually shifting toward ultra-luxury offerings.
Citing recent project performance, he said DLF’s The Dahlias achieved sales of over ₹11,500 crore within nine weeks of launch. He added that earlier luxury projects such as The Camellias took significantly longer to reach comparable sales levels.
He also pointed to a series of projects launched since 2023—including The Grove, The Arbour, Privana South, Privana West and Privana North—which together have recorded cumulative sales of over ₹33,590 crore, with most selling out shortly after launch. The Mumbai project The Westpark, he said, was sold within a week.
According to him, the trend reflects sustained demand for differentiated luxury housing products across locations.
Buyer preferences shifting toward experience-led living
Ohri said buyer expectations in the luxury segment have evolved, with emphasis on low-density planning, privacy, curated communities and service-led amenities such as concierge support and managed residential experiences.
He noted that wellness and design are now part of a broader focus on holistic living environments rather than standalone features.
He added that luxury housing is being evaluated alongside traditional financial assets, particularly by younger HNIs who view real estate as part of long-term wealth planning.
This shift, he said, is influencing pricing and absorption trends, with well-positioned projects seeing faster uptake due to limited supply and differentiated offerings.
Mixed-use projects supporting demand and yields
On mixed-use developments, Ohri said integrated residential and commercial ecosystems help improve convenience and create steady rental demand.
He noted that such projects tend to attract senior professionals, expatriates and high-income tenants, supporting stronger occupancy levels and rental yields. He cited developments such as DLF5 in Gurugram and DLF Midtown in Delhi as examples of this model.
Delhi seeing renewed primary market activity
On regional trends, he said Delhi is witnessing renewed activity in primary real estate, driven by strong end-user demand and limited supply of large-scale quality developments within the city.
He said many buyers continue to prefer upgrading within Delhi rather than relocating, which is supporting absorption in new luxury projects.
High-rise housing gaining wider acceptance
On housing formats, Ohri said high-rise developments are becoming more widely accepted in major urban centres due to land constraints and changing lifestyle preferences.
He said buyers are opting for gated, professionally managed communities that offer security, amenities and efficient land use.
According to him, this shift is contributing to steady demand and long-term value creation in well-planned high-rise projects.
