Raymond Realty Chairman Gautam Singhania has said Mumbai’s affordable-luxury housing segment continues to show resilience despite geopolitical uncertainty, rising construction costs and challenges facing the city’s super-luxury property market.
Singhania said the ongoing US-Iran conflict has created uncertainty across markets, with limited visibility on how long the situation could continue. According to him, the uncertainty could have a greater impact on the super-premium and ultra-luxury segments of Mumbai’s residential market, where buyers tend to be more sensitive to global economic conditions.
However, he said the affordable-luxury segment, which forms the core market for Raymond Realty, remains comparatively stable. The company expects demand for well-located homes offering quality amenities and premium features at relatively accessible price points to remain supported.
“We are in the belly of the market,” he told the Real Estate Correspondent.
Singhania’s comments come at a time when Mumbai’s residential market continues to witness strong demand across several segments, even as developers face higher input and construction expenses. The city’s limited availability of land, redevelopment activity and improving infrastructure have continued to support property values in established and emerging locations.
While the super-luxury segment may face greater pressure from international economic developments and changes in investor sentiment, affordable luxury is increasingly being viewed as a more resilient part of the market. Buyers in this category are generally looking for a combination of location, construction quality, amenities and long-term value.
The distinction between luxury and affordable luxury has become increasingly important as Mumbai property prices continue to rise. Developers are seeking to offer premium lifestyles without moving entirely into the ultra-high-end segment, allowing them to tap into a broader pool of homebuyers.
Singhania’s assessment suggests that while global geopolitical risks could influence sentiment at the top end of the market, Mumbai’s broader housing demand remains supported by underlying domestic factors.
With infrastructure expansion, redevelopment and connectivity improvements reshaping several parts of the Mumbai Metropolitan Region, the affordable-luxury segment could continue to attract buyers despite uncertainty in global markets.
For developers such as Raymond Realty, the focus is therefore likely to remain on delivering premium housing at price points that appeal to Mumbai’s expanding middle and upper-middle-income buyer base.
Source: Hindustan Times
