Over the past three years, a clear trend has emerged in India’s real estate sector. Sales of luxury apartments or high-end homes have been on the rise. According to real estate research and consultancy firm Knight Frank, the sale of apartments priced above ₹1 crore has been increasing steadily. In fact, such high-ticket properties accounted for nearly 46% of total residential sales in the second half of 2024.

Sales of premium properties in the ₹2 crore to ₹5 crore range swelled by 62% in the second half of 2024 compared to the same period in the previous year, according to the consultancy firm. This boom in high-end apartments is not just good news for developers but also signals strong demand in the interior design industry. As more luxury homes change hands, homeowners are keen to create spaces that reflect their style and comfort.

India’s interior design sector is poised for massive growth, led by several key factors. Let’s take a closer look at what’s shaping the industry’s expansion.

A GROWING MARKET

Broadly, India’s interior design market can be divided into two main segments – residential and commercial. Interestingly, it is the commercial segment that leads the way. As of 2023, it accounted for approximately 75% of the market, making it not only the largest but also the fastest-growing segment compared to residential spaces.

So, what’s driving this growth?

According to the IMARC Group, a leading market research firm, India’s interior design market reached a valuation of $34 billion in 2024. And the momentum is not slowing down. Projections indicate that the market will nearly double to $71 billion by 2033, growing at a compound annual growth rate (CAGR) of 8.5% between 2025 and 2033.

INCREASING DISPOSABLE INCOME