A sea-facing triplex penthouse in Mumbai’s Napean Sea Road was recently sold for a staggering Rs 202 crore or about $30 million in India.

With amenities like high speed elevators, a club house, private swimming pool, luxury yacht and personal plane a call away, this luxury house received the highest ever deal recorded in India’s residential real estate market.

As India’s economy continues to grow, more people are moving from the ranks of the merely affluent to the rich. If current trends continue, India will have 4.37 lakh (437,000) millionaires by 2018, according to Wealth-X – and most will want their homes to reflect their new found status.

And the standards are set high. “The appetite for luxury living in India has increased rapidly and is within reach of a much larger group. The global Indian now seeks the same brands and experiences in his home as he has had with his clothes or the car he drives.

The expectations of high-end Indian buyers have also evolved. Today, premium homes embody a concept exclusivity and pride that goes beyond a fancy address in a city.

While the world of ultra-luxury remains out of reach for the vast majority, as India’s economy continues to grow, more potential homebuyers will be in a position to pay out for the home of their dreams.