South Bengaluru is increasingly emerging as a destination for ultra-luxury housing, with developers pointing to changing buyer demographics, rising wealth creation and a shortage of large-format homes in the city’s southern corridor.
SNN Estates recently launched Duomont on the Hosur Road corridor, marking its entry into South Bengaluru’s ultra-luxury segment. The company believes the market has reached a point where demand is being driven by buyers whose requirements extend beyond conventional premium housing.
“South Bengaluru, and specifically the Hosur Road corridor, has seen a structural change in its buyer profile over the last five years,” said Nitin Agarwal, Director, SNN Estates. “The senior executive, the technology entrepreneur, the returning NRI who needs a home that genuinely works for a full family across generations already live and work in this corridor, and yet nothing has been built for them at this scale.”
The company said its latest project, Duomont, builds on the design and construction standards of its earlier luxury development, Clermont, in North Bengaluru. According to the company, the project features double-height living and dining spaces, along with amenities and open areas designed to encourage community interaction. It is aimed at multi-generational families as well as homebuyers seeking premium residential developments.
The company also points to movement from established residential areas such as Jayanagar and Koramangala, where some homeowners are selling older properties and moving into newer developments offering larger residences and modern amenities.
“These buyers are not moving out of compulsion. They are making a considered lifestyle decision,” Agarwal said. “They have travelled widely, they know what good design and quality look like, and they have had to either compromise on location or settle for a product that did not match their expectations.”
Industry data suggests that Bengaluru’s luxury housing market continues to gain momentum. According to Knight Frank’s Wealth Report 2024, India’s ultra-high-net-worth population is projected to grow by 50% by 2028, while Bengaluru remains among the country’s leading centres for wealth concentration.
The city’s luxury housing market has also recorded strong growth over the past year. Anarock Research reported a substantial increase in sales of homes priced at ₹10 crore and above, while JLL data showed a sharp rise in luxury project launches during the first quarter of 2025.
Agarwal believes the trend is tied to long-term changes in wealth creation rather than short-term market cycles.
“This is unambiguously a structural shift, not a cyclical one,” he said. “That kind of acceleration doesn’t come from a market timing play. It comes from a fundamentally different buyer pool that has arrived in the city and isn’t going anywhere.”
The profile of luxury buyers is also changing. Developers say a significant share of demand now comes from first-generation wealth creators in the technology and startup sectors, particularly those in the 30-45 age group. At the same time, established business owners and senior executives continue to remain active participants in the market.
According to the company, demand for homes of this scale is being driven by both multi-generational families and high-income individuals seeking dedicated spaces for work, wellness, entertainment and personal interests.
“The demand for homes of this scale is being driven by two very distinct but equally real needs,” Agarwal said. “The first is the joint family. The second is the high-earning individual who has reached a point in life where their home needs to reflect how they actually live.”