1.4 Bn Indian population translates to ~310 Mn Households pan India. Out of this, top-50 cities, by population, have 50Mn households (~16%) expected to grow by 2.5% CAGR to reach 63Mn by 2031. In the top-50 cities, 16 Mn households (~32% of overall households in top-50 cities) reside in the gated communities.
Spurred by the COVID-19 pandemic, gate management platforms went out of their way to accommodate community needs. The mushrooming of gated communities and their spending power will spur more innovations—and competition—in this sector, making this an exciting space to watch.
This is expected to grow by ~7% CAGR in the next 10 years to reach 32 Mn Households in 2031- contributing to ~50% of households in top-50 cities. The growth of gated communities can be attributed to the rise in nuclear families and the need for better security.