Contemporary buyers prefer residences that embody both luxury and sustainability, incorporating eco-friendly construction methods, renewable energy options, and intelligent technology. In response, developers are incorporating elements such as home automation, energy-efficient architecture, and sophisticated security systems, thereby meeting the changing demands of today’s discerning and wealthy clientele, says Ashwinder R Singh, Vice Chairman & CEO, BCD Group.
In an exclusive interview with Sanjeev Sinha, Mr Singh shares his views on the luxury real estate market and identifies the upcoming growth areas for high-end properties. Excerpts:
The luxury residential market is expected to expand significantly in the coming years. What do you see as the main drivers of this growth, and how are developers evolving to meet the demand for premium amenities and sustainable living?
The growth of India’s luxury market, projected to reach $101.92 billion by 2029, is being driven by rising disposable incomes, a shift towards more sophisticated living, and increased demand for larger, more functional spaces with high-end amenities. The growing focus on sustainability is another crucial factor. Buyers now expect homes that are not only luxurious but also sustainable—integrating green building practices, renewable energy solutions, and smart technology. Developers are responding by embedding features like home automation, energy-efficient designs, and advanced security systems, ensuring that these properties cater to the evolving expectations of the modern, affluent buyer.
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With technology becoming indispensable in real estate, how are developers using smart construction techniques and home automation to differentiate their projects?
Technology is no longer a differentiator but a necessity in today’s real estate landscape. Developers are increasingly leveraging Building Information Modeling (BIM) to streamline construction processes and improve accuracy, reducing costs and timelines. Home automation, too, has become a hallmark of modern living—integrating smart controls for lighting, climate, security, and entertainment systems. These advancements not only enhance the living experience but also drive energy efficiency, appealing to both tech-savvy and environmentally conscious buyers. The real edge now lies in how seamlessly these technologies are integrated into the overall design, ensuring they add value rather than complexity.
As new urban hubs emerge, what locations do you foresee becoming the next growth centers for premium properties?
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