Number of branded housing projects in India set to jump over 2-fold in 6 years: Savills

With the number of branded projects set to increase by 126 per cent over the next six years, the country's growth is supported by rapid wealth creation, expanding metropolitan populations and a growing domestic appetite for internationally branded products," the report said.Live EventsSensing the growing demand, many real estate players, including M3M India, Tribeca Developers, Signature Global, Smartworld Developers, Elan Group, Whiteland Corporation, Gulshan Group, and Dalcore, have entered into the branded home segment.They have tied up with big hospitality as well as fashion and lifestyle brands to develop branded projects, catering to demand of super-rich.Shveta Jain, Managing Director, Residential Services at Savills India, noted that India is entering an important next phase in the evolution of branded residences."India is emerging as a particularly important market for the sector, with growth increasingly extending beyond traditional hospitality-led resort developments into urban, non-hospitality branded residences," she added.Going forward, Jain said, the growth in demand for branded homes would be influenced by factors like quality, service, brand credibility and the strength of the overall residential proposition.Commenting on the trend, Signature Global Chairman Pradeep Aggarwal said the expectations of Indian homebuyers have shifted noticeably in the past few years."Buyers are now far more selective.

Beyond size and location, they want thoughtful design, a sense of identity, and a dependable standard of living. As a result, more people are drawn to homes with a clear character, backed by a brand and design language they know and trust," Aggarwal said.Tying up with well known brands enhances builders' credibility and provides assurance to prospective customers about the quality and timely execution of projects, he said.Navdeep Sardana, Founder of Whiteland Corporation, said, "Branded residences are rapidly emerging as one of the most significant new segments within the global residential real estate market.

Importantly, branded residences command an average global price premium of 30-40 per cent over comparable unbranded homes, reflecting the growing value buyers place on the combination of a trusted brand, hospitality-led services and a differentiated living experience."Ashish Jerath, President, Sales & Marketing at Smartworld Developers, said Delhi-NCR has emerged as an important market for this segment, supported by a strong base of premium homebuyers.Vineet Dawar, President-Sales & Strategy at Elan Group, said the growing demand for branded residences reflects a shift in homebuyers' expectations, particularly in the luxury housing segment.In April, Signature Global tied up with Italian lifestyle brand Tonino Lamborghini to develop a luxury housing project in Gurugram with an investment of nearly Rs 2,900 crore.M3M group firms, M3M India, and Smartworld Developers, have tied up with various brands in the last few years, including Trump, Jacob & Co, and ELIE SAAB.Whiteland Corporation has tied up with Marriott International to develop 'Westin Residences' in Gurugram.Elan group has partnered with Marriott International to build 'JW Marriott Residences' in Gurugram.Gulshan Group is developing a Taj-branded hotel and residences in Noida, while Dalcore is constructing branded homes at Gurugram in partnership with global design and lifestyle brand YOO.In August, Tribeca Developers and Ira Realty announced a Trump-branded luxury housing project in Hyderabad.Mumbai-based Tribeca Developer is the official representative of the Trump brand in India.Savills report highlighted that Asia Pacific is currently the second most established branded residential region globally, accounting for about 23 per cent of completed projects worldwide."A further 187 projects are expected to be delivered by 2032, representing forecast growth of 97 per cent," it added.Rapid wealth creation across major APAC economies is creating a larger pool of high-net-worth and ultra-high-net-worth individuals who are looking for branded residences closer to home, the consultant said, while explaining the reason behind the expected growth in this segment.(You can now subscribe to our ETMarkets WhatsApp channel)