India’s home interiors market is projected to reach USD 24.5 billion by 2030 from USD 12.33 billion now driven by rising disposable incomes, rapid urbanization, and a growing consumer desire for personalized
and functional living spaces, according to a new report by Magicbricks titled “Beyond Walls: Trends & Projections”.
The research highlights the significant value that home interiors add to real estate. According to the report, a well-designed interior can increase a property’s resale value by up to 70% and secure rental premiums of up to 45%. The market’s demand is heavily concentrated in 2 and 3 BHK units, which make up 95% of the market. Mid-sized homes (750-2,000 sq. ft.) and properties with a ticket size of INR 2-5 crore are the most popular segments, representing 49% of market demand.
Consumer Spending Habits On Their Houses
The average spend on home interiors across India is INR 560 per square foot, the report said, adding that bedrooms and kitchens are the most significant investment areas for consumers, collectively accounting for 54% of total expenditure.
Delhi NCR is leading the way with an average spend of INR 580 per square foot, followed by Bengaluru at INR 520 and Hyderabad at INR 490.
Moreover, the report mentioned, Full Home Design (FHD), a trend of opting for a complete solution, is gaining grounds, with over 80 per cent of the demand now for these comprehensive solutions.
While Tier 1 cities like MMR, NCR, Bengaluru, and Pune are the main drivers of the market, the report notes a rising interest in home interiors from Tier 2 cities.
“India’s homeowners are increasingly viewing interiors as a strategic investment and what excites us is how rapidly the interiors market is formalising & growing. With rising demand for full-home design solutions, we are witnessing a shift from unorganised players to structured, tech-enabled platforms like never before. At Magicbricks, we are working with more than 150 brand partners to deliver bespoke solutions to our users. Our recently organised Interiors Expo fest received overwhelming response which further underlines the appetite for such innovations,” said Sudhir Pai, Chief Executive Officer, Magicbricks.
