(MENAFN- IANS) Mumbai, Oct 14 (IANS) India's prominence is growing in the global branded residences market, as it ranks 6th worldwide in live projects and contributes 4 per cent to the global supply of branded residences, a report said on Tuesday.

The country also ranks 10th globally in the pipeline of upcoming branded residential projects, accounting for 2 per cent of future supply.

"India's position highlights its growing, but still nascent, role in the segment compared to global leaders like the USA, UAE, and UK. Importantly, the country's rising wealth base is fuelling future demand," Knight Frank said in the report.

In 2024, India was home to nearly 85,698 individuals with a net worth of over $10 million, representing 3.7 per cent of the global high-net-worth population.

This expanding affluent base is fuelling demand for branded residences that blend global brand prestige with culturally attuned design and world-class amenities.

"India's branded residence sector is still relatively young but is rapidly making its mark on the global stage. Ranking 6th worldwide for live projects and backed by a fast-expanding wealth base of nearly 86,000 ultra-rich individuals, India represents one of the most significant pools of future demand for branded living," Knight Frank India Chairman and Managing Director, Shishir Baijal, said.

What makes the market unique is the way these residences blend international brand prestige with culturally nuanced design and services, appealing to buyers who seek exclusivity, security, and a truly global lifestyle, Baijal added.

Mumbai, Delhi-NCR, Bengaluru, and Pune lead India's branded residence landscape, while Goa and Uttarakhand are emerging as key lifestyle and second-home destinations.

According to the report, the country's rapidly evolving real estate ecosystem, coupled with its strong luxury demand, positions India as one of the fastest-growing frontiers for branded developments in the Asia-Pacific region.

From landmark high-rises in Mumbai and NCR to emerging leisure destinations like Goa and Uttarakhand, branded residences are set to redefine the meaning of luxury living in India, Baijal said.

The report was prepared by surveying 83 countries.

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