India's rich look beyond cities for homes, developers follow

The next luxury property purchase for India's wealthiest households may not be another apartment in Mumbai or Delhi. It could be a villa in the hills, a managed home in Goa or a retreat outside a crowded metropolitan centre.

The shift is less about abandoning cities than acquiring the option to leave them. Developers are responding by building residential projects in leisure destinations, combining private ownership with hospitality, wellness facilities and professional property management.

Sample this, The House of Abhinandan Lodha's (HoABL) entry into Mashobra, near Shimla, offers a case study in how that market is evolving.

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The company launched The Ridge on October 16, offering three- and four-bedroom villas at prices starting at about Rs 9.5 crore. Spread across 11.5 acres at an elevation of approximately 7,000 feet, the development is designed around mountain views, wellness amenities and managed hospitality, according to the company.

The project will include a clubhouse exceeding 25,000 square feet, an indoor heated pool, fitness facilities and wellness spaces. HoABL has partnered with Evavo Wellness for treatments including cryotherapy and red-light therapy, while Everly Hotels & Resorts will provide villa management, private dining and other hospitality services.

The proposition goes beyond selling a house in a scenic location. It is an attempt to make ownership in a remote destination more convenient, with services that allow owners to arrive without having to organise the practicalities of maintaining a second property.

The growing appeal of second homes

The trend has been gaining visibility since the pandemic, when remote working and concerns about urban congestion prompted affluent buyers to reconsider where they wanted to spend their time.

Since the end of 2025, real estate analysts have observed growing interest in low-density homes in destinations such as Goa, Alibaug, Coonoor and Kasauli, driven by demand for open spaces and proximity to nature. Buyers are increasingly considering second homes for longer stays rather than occasional holidays.

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The market, however, is not moving uniformly. Savills India's North Goa residential review for the first half of 2026 found rising interest in managed villas, gated communities and lifestyle-oriented developments, particularly among second-home buyers, retirees and remote professionals. Yet residential capital values in the market's microlocations softened by 4 per cent to 6 per cent year on year during the period.

The contrast is significant. Buyers may be placing greater value on lifestyle and convenience, but that does not mean every destination property will deliver capital appreciation.

Lodha's bet on managed luxury

For Abhinandan Lodha, chairman of HoABL, The Ridge represents an expansion beyond the company's core business of branded land into a more service-intensive form of residential development.

The business logic is straightforward, a remote home can be expensive and inconvenient to maintain when its owner lives elsewhere. Professional management and hospitality services can make the property easier to use, while potentially allowing owners to explore rental income when they are absent. HoABL has not disclosed projected rental yields or expected hospitality revenue for The Ridge.

The model also carries operational risks. Mountain construction requires careful attention to terrain, drainage and geology. HoABL says its project incorporates IIT Roorkee-led planning, micropile foundations and computational modelling to address site conditions. The quality of execution and long-term maintenance will be critical to the development's appeal.

Lifestyle versus investment

At nearly Rs 10 crore to enter, The Ridge targets a narrow pool of buyers. For them, the purchase may be justified by family use, privacy and convenience rather than rental returns alone.

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For investors, the calculation is harder. Occupancy, operating costs, seasonal demand and resale liquidity can determine whether a luxury holiday home performs as an asset.

The broader opportunity for developers lies in turning desirable locations into professionally managed residential destinations. But the growth of this market will depend on more than views and wellness branding.

For Lodha and his competitors, the challenge is to persuade buyers that a second home is worth owning even when they are not there — and to deliver the services that make it worth returning to.