Robb Report India Features Boman Rustom Irani in 'Masters of Luxury' Series on Mumbai's Luxury Residential Market
Masters of Luxury: Boman Rustom Irani on Design, Trust, and Mumbai's Evolving Luxury Market
In 1996, with the conviction of a first-generation entrepreneur and the precision of an engineer, Boman R. Irani founded Rustomjee Group, reshaping residential development across the Mumbai Metropolitan Region. Three decades later, as Chairman of CREDAI (The Confederation of Real Estate Developers' Associations of India) National, he represents thousands of developers across the country. On 25 June 2026, Robb Report India featured Irani in its inaugural Masters of Luxury series—a study of India's leading tastemakers across architecture, design, travel, and real estate.
The Evolution of Luxury in Mumbai
Thirty years ago, luxury was largely defined by space, location and views. Over time, Indian consumers have become more widely travelled and far more discerning. They understand the difference between value and price, and they seek experiences rather than mere possessions. Irani articulated this shift in buyer behaviour in the interview, reflecting on how the definition of premium residential living has deepened. For Rustomjee, luxury has always been about creating value. It can mean privacy without isolation, community without intrusion, or simply delivering a project on time. True luxury is both visible and invisible—it is something that can be experienced as much as seen.
Mumbai's luxury property market has entered a phase that industry observers are calling its most structurally sound bull run in a decade. In FY 2024–25, Mumbai's residential market crossed ₹1.55 lakh crore in total transaction value — driven not by sheer volume, but by larger ticket-size deals in the premium and ultra-premium segments. Homes priced above ₹5 crore now account for 7% of all residential registrations in the Mumbai Metropolitan Region, a share that has doubled in three years.
Design Philosophy: Simplicity and Livability
In the Masters of Luxury interview, Irani addressed his approach to design—a discipline he describes as personal and instructive. While Rustomjee maintains exceptionally talented designers, Irani brings focus to the human side of design. He often refers to what Steve Jobs said: the most beautiful things in life are simple, and the hardest thing is to make them simple. While architects and design teams possess far greater technical expertise, Irani remains deeply invested in how people actually live within the spaces created.
Irani finds immense inspiration in India's temples. Their acoustics, craftsmanship and attention to detail are extraordinary. Many of these structures were built centuries ago, yet they continue to teach lessons in design, engineering and human experience. Travel is another major source of inspiration. He observes everything—from the hotels stayed in and historic landmarks visited to the way cities organise their roads, waterways and public transport systems. Cities such as Singapore and Hong Kong have demonstrated how infrastructure can be seamlessly integrated into everyday life. Their approach to transport, urban planning and mixed-use development offers valuable lessons.
Customer Touchpoints and Quality
The founder underscored the role of consistent service delivery in premium real estate. The experience, according to Irani, begins long before someone moves into a home. Every touchpoint matters—from the first enquiry to the handover and beyond. Rustomjee focuses on being attentive without being intrusive. Quality is remembered long after price is forgotten, and quality must be evident in every interaction.
Over three decades, Rustomjee has built millions of square feet of residential, township, and commercial projects across the Mumbai Metropolitan Region. The developer is noted in industry benchmarking for establishing luxury presence in Bandra, Khar, and South Mumbai.
On Leadership and Learning
Irani emphasizes that inspiration comes from maintaining an inquisitive mindset. History can teach. Nature can teach. Technology can teach. The question is whether one is willing to keep learning. A graduate in engineering with leadership programmes completed at Harvard, Mr. Irani brings both technical rigour and strategic vision to everything he does.
The Mumbai Luxury Market in 2026
The luxury housing segment of Mumbai Metropolitan Region is entering a defining phase as structural reforms, infrastructure expansion, and evolving lifestyle aspirations converge in 2026. Capital flows are becoming more selective, with buyers prioritising connectivity, long-term value protection, and design-led residential projects in Mumbai over legacy location alone.
In 2026, functional luxury in Mumbai is characterised by location in sea-facing, hilltop, or marquee micro-markets such as Worli, Malabar Hill, Bandra, and BKC; developer pedigree including names like Lodha, Godrej, Piramal, Rustomjee, and Oberoi; and amenities such as infinity pools, private concierge, sky lounges, valet parking, smart-home automation, and temperature-controlled wine cellars.