BENGALURU: Godrej Properties Ltd (GPL), the country’s highest-selling residential developer, is stepping up its push into high-value housing, lining up a series of premium and luxury launches across key markets as part of a ₹48,000 crore pipeline for fiscal year 2027 (FY27), executive chairperson Pirojsha Godrej said Wednesday.
GPL is targeting ₹39,000 crore of sales bookings this year, on the back of a strong launch pipeline and demand for branded developers.
The planned launches span prime micro-markets, including Golf Course Extension Road in Gurugram, Ashok Vihar in Delhi, and Bandra Bay in Mumbai, underscoring a clear tilt towards higher-ticket projects.
The shift follows a year of aggressive land acquisitions in top locations and marks a more pronounced move into luxury, even as GPL has previously developed such projects.
In Gurugram, now emerging as one of India’s key luxury hubs, GPL will develop a project on an 11.36-acre land parcel acquired earlier this year, with a revenue potential of about ₹4,500 crore. In Delhi, the company plans to launch a much-awaited project spread over around 27 acres in Ashok Vihar, where apartments are likely to be priced at ₹5 crore and above.
In Mumbai’s Bandra Bay, where developers such as Adani Realty and others are preparing luxury launches, GPL is planning a project with apartments priced at over ₹15 crore each, as per analyst estimates.
“The launches this year will reflect the kind of business development GPL has done last year, where it has acquired land in key micro-markets within the cities it operates in. The premium launches this year are in great locations and will happen in the coming months,” Pirojsha Godrej told Mint.
The company will also launch the third tower in its luxury project in Worli, a sought-after location, where the first two towers were launched in late 2025. It is also developing an ultra-luxury residential project on Carmichael Road in south Mumbai, where it sold an apartment in February for ₹69 crore, at a rate of ₹1.58 lakh per sq. ft, to Menon Realty LLP.
Alongside these projects, GPL will continue to launch developments at more affordable price points across cities.
Beyond its core markets—the Mumbai Metropolitan Region (MMR), National Capital Region (NCR), Bengaluru, Pune and Hyderabad—the developer also plans to launch two group housing projects in Ahmedabad and Kolkata this year.
The premiumization wave
GPL’s strategy mirrors a broader shift across the sector. Peers such as DLF Ltd, Prestige Estates Projects Ltd, and Lodha Developers Ltd have been steadily expanding their luxury portfolios, tracking rising demand for larger, higher-value homes.
Even mid-sized developers are increasingly moving up the value chain, shifting focus from mid-income to premium housing to tap this demand.
"Premium housing has emerged as the principal anchor of India’s residential market. Larger cities continue to demonstrate strong absorption in higher ticket-size segments, while lower priced segments remain under pressure. The current demand mix reflects a more mature, end-user driven market supported by stable inventory levels and calibrated supply," said Shishir Baijal, international partner, chairman and managing director at property advisory Knight Frank India.
As per Knight Frank's report in March, out of 348,247 units sold during 2025, 175,091 units were in the ₹1 crore-plus category, reflecting a 14% year-on-year increase. This marks a clear transition in buyer preference toward higher-value homes, even as total annual sales remained broadly steady at elevated levels.
“The fact that homes priced above ₹1 crore now constitute half of total residential sales is a defining milestone for the sector. Demand is increasingly being led by financially secure end-users upgrading to better-quality homes," Baijal added.
