By Mr. Prashant Khandelwal, Joint Secretary of CREDAI MCHI and Director & CEO of Agami Realty
The concept of luxury has undergone a transformational shift moving beyond the ideals of material goods, luxury is now being defined as an experience, a way of life. While the idea of quiet luxury has been in circulation for a few years now, reflecting a more matured realisation of enduring value, convenience, ease and quality of life have overtaken other conspicuous markers to evolve as the ultimate ‘quiet’ status symbol. In that, consumers are prioritising a new type of calibration, as defined by liveability, connectivity and proximity to infrastructure that contribute to enhanced physical and mental wellbeing. The concept of the 15-minute city – pioneered by the urbanist Carlos Moreno – is now gaining traction in India’s metros. This model aims to transform neighbourhoods into self-sufficient hubs, fulfilling six essential functions of living, work, supply (access to essentials), care (health and wellness), learning and leisure. By reducing daily commute, it allows residents to reclaim their hours, improving their overall work-life balance as well as physical and mental health.
The luxury of ease
Looking beyond traditional markers such as prestige locations, modern-day homebuyers crave convenience. Accordingly, projects that offer excellent accessibility to commercial pockets, retail hubs and other social infrastructure including schools and hospitals score high in their list of wants. Recent infrastructure expansions have made accessibility not just a pipe dream but a living reality that buyers are eager to incorporate into their impending purchases. A 2025 study by Knight Frank substantiates this trend with eye-opening figures – it finds that when considering essential external facilities in a residential project, health facilities such as hospitals and clinics top the list at 58 per cent, followed by proximity to shopping and retail outlets at 53 per cent, and schools at 37 per cent. The report concludes that this shift reflects a move toward convenience, with more than 50 per cent of buyers prioritising location as defined by these parameters.
Key micro-markets in Mumbai have benefitted from this push, including Kalanagar in Bandra East, whose proximity to BKC makes it a coveted residential address, especially for professionals employed in the business district. It also enjoys excellent road access thanks to the Western Express Highway and the Bandra-Worli Sea Link, and is connected to the metro network via the BKC and Bandra stations. With the Mumbai International Airport only minutes away, the area’s accessibility is unmatched. In addition to being the most prestigious business district in Mumbai, BKC has emerged as a major cultural and recreational destination due to the presence of the Nita Mukesh Ambani Cultural Centre, Jio World Drive mall, various fine dining establishments and luxury retail stores. Complementing these are the several world-class schools, hospitals and sports grounds, which enhance its desirability for upwardly mobile families in the city.
The luxury of wellness
Health is no longer an afterthought for homebuyers but a practical consideration that is best met when embedded into an integrated ecosystem. For a location like Kalanagar, its proximity to the prominent MIG Cricket Club, a major hub for coaching and tournaments, is a major differentiator. Its presence as a community anchor has ensured that cricket continues to be a strong undercurrent in Kalanagar’s social and cultural fabric – a fact that further tips the scales in its favour in the eyes of fitness and sports-loving home-owners. Additionally, Kalanagar also offers easy access to prominent sports institutions such as the Mumbai Cricket Association Recreation Centre & Club and The Bay Club, which offer residents access to prime sports and wellness facilities and top-tier wellness infrastructure.
The luxury of growth
Real estate is emerging as the most preferred asset class for investment for over 59 per cent of Indian homebuyers, found the FICCI Homebuyer Sentiment Survey. Locations backed by strong infrastructure development, upcoming commercial hubs and high rental yields are thus rising to the fore, offering homebuyers the twin benefits of massive future appreciation and competitive pricing. Kalanagar has been the recipient of such a visible transformation, growing from an emerging location to an established luxury hub, with projects from prominent developers elevating its skyline. The impact is evident in steadily rising property prices, with recent data indicating an annual increase of approximately 23.97%. This upward trajectory underscores the growing demand for the area, driven by its strategic location and strong social infrastructure. The trend is expected to persist in the coming years, as Kalanagar continues to strengthen its position as one of Mumbai’s most sought-after residential addresses.