By Mr. Prashant Khandelwal, Joint Secretary of CREDAI MCHI and Director & CEO of Agami Realty
For affluent homebuyers in Maharashtra, luxury is increasingly being defined by location rather than square footage. Across Mumbai, Pune, Nashik, Nagpur and other emerging premium markets, high-net-worth individuals (HNWIs), entrepreneurs, business leaders and new-generation wealth creators are placing greater emphasis on securing what many in the industry now describe as “power addresses”—locations that combine exclusivity, long-term value and enduring social prestige.
Also Read: Mumbai Property Registrations Hit 14-Year July High, Reflecting Resilient Housing Demand
A Changing Definition of Luxury
India’s expanding wealth base has significantly influenced demand in the luxury residential market. While the country continues to rank among the world’s strongest-performing luxury housing markets, buyer priorities have evolved. Premium homes are no longer viewed solely as aspirational purchases; they are increasingly regarded as strategic long-term assets.
With financial markets experiencing periodic volatility, tangible assets have regained importance within diversified investment portfolios. Prime residential real estate offers both lifestyle benefits and the potential for long-term wealth preservation. According to reports from JLL India and CBRE, demand for premium housing has remained resilient, supported by rising entrepreneurial wealth, increasing disposable incomes, greater global mobility and sustained confidence in India’s long-term economic outlook.
One of the defining strengths of established luxury neighbourhoods is the limited availability of developable land. This scarcity creates a structural pricing advantage, enabling prime residential locations to retain stronger demand and demonstrate greater resilience during market slowdowns.
Maharashtra’s Premium Corridors Continue to Outperform
Maharashtra remains India’s largest and one of its most dynamic real estate markets, with premium housing emerging as a key growth segment.
Property registration data published by the Inspector General of Registration (IGR), Maharashtra, continues to reflect robust transaction activity in Mumbai. Rising average ticket sizes further indicate sustained demand from affluent homebuyers.
Market studies by Knight Frank India, ANAROCK and PropEquity also highlight increasing launches in the premium residential segment, healthy absorption levels and consistent price appreciation across established micro-markets. In Mumbai, locations such as BKC, Bandra, Worli, Lower Parel, Powai and Khar continue to attract sustained demand despite limited supply. Similarly, Koregaon Park, Kalyani Nagar, Baner, Balewadi High Street and Senapati Bapat Road have strengthened their position as Pune’s prominent wealth corridors, where quality developments remain in high demand.
Infrastructure Is Reinforcing Long-Term Value
Major public infrastructure investments are playing a central role in strengthening Maharashtra’s premium residential markets.
Projects including the Mumbai Coastal Road, Mumbai Metro expansion, the Mumbai Trans Harbour Link (Atal Setu), Pune Metro, the Samruddhi Mahamarg, Navi Mumbai International Airport and several multimodal transport initiatives are transforming urban connectivity across the state. Improved accessibility, shorter travel times and better integration between commercial and residential districts are enhancing the appeal of premium housing corridors.
Research by McKinsey & Company has consistently highlighted the relationship between infrastructure investment and rising property values. Improved connectivity not only enhances everyday convenience but also supports commercial expansion, employment generation and sustained residential demand, reinforcing the long-term attractiveness of established locations.
More Than an Investment, A Legacy
For affluent buyers, the value of a prestigious address extends beyond financial appreciation. A power address increasingly represents permanence, credibility and a sense of belonging within an established community.
Much like Mayfair in London, Manhattan’s Upper East Side or Marina Bay in Singapore, Maharashtra’s most sought-after residential neighbourhoods have developed identities that transcend their physical boundaries. Their significance lies not only in their market value but also in the reputation and legacy associated with these locations.
As a result, such homes often become multigenerational assets, passed down through families not only because of their appreciating financial worth but also because of the social and cultural significance attached to their address. From this perspective, acquiring a power address is increasingly viewed as an investment in legacy rather than simply the purchase of a luxury residence.
