Advertisement
When should a housing society in Mumbai start considering re...
From GST on JDAs to SEBI’s REIT reclassification and the S...
Stay ahead in the world of real estate with our daily podcas...
Stay ahead in the world of real estate with our daily podcas...
India's luxury real estate market witnessed a 17% growth in sales value in 2024, with 59 high-end homes sold for INR 4,754 crore, up from INR 4,063 crore in 2023, according to Anarock. Mumbai dominated with 88% of sales, while Delhi-NCR, Hyderabad, and Bengaluru contributed modestly. Notably, 17 transactions surpassed INR 100 crore each, highlighting robust demand for ultra-premium properties despite rising construction costs. Driven by a growing affluent class and evolving post-pandemic lifestyle preferences, the trend underscores a shift towards spacious, modern homes. As urbanization accelerates, the luxury market is poised for sustained growth in the coming years.
The luxury real estate market in India has shown significant growth in 2024, with 59 high-end homes sold for approximately INR 4,754 crore. This marks a 17% increase in sales value compared to 2023, when 58 homes were sold for INR 4,063 crore, according to data from Anarock. Advertisement
The increase in sales value reflects a strong demand for luxury properties, despite rising home prices driven by higher construction costs. Anuj Puri, chairman of Anarock, noted that while the number of transactions saw only a slight increase, the total value of these transactions highlights a robust market trend.
Most of the homes sold were apartments, with 53 units sold alongside six bungalows. Mumbai dominated the market, accounting for 88% of total sales with 52 homes sold. The city remains a hotspot for luxury real estate, with high demand pushing prices upward. In contrast, the Delhi-NCR region recorded only three transactions, including two ultra-luxury homes in Gurugram and one in Delhi.
Other cities also contributed to the luxury market, with Hyderabad and Bengaluru each reporting two sales, both valued at over INR 40 crore. Notably, 17 of the homes sold in 2024 exceeded INR 100 crore each, indicating a growing appetite for ultra-premium properties.
In comparison, the luxury real estate market in 2022 saw 13 deals worth around INR 1,170 crore, predominantly in Mumbai and Delhi-NCR. This year's data suggests a shift in buyer confidence and investment in high-value properties, despite previous market challenges.
The trend of increasing luxury home sales can be attributed to several factors, including a growing affluent class in India, favorable financing options, and a shift in lifestyle preferences post-pandemic. Many buyers are now prioritizing spacious homes with modern amenities, leading to a surge in demand for luxury apartments and bungalows.
Overall, the luxury real estate market in India is poised for continued growth, driven by strong demand and changing buyer preferences. As urbanization continues and more people seek high-end living spaces, the market dynamics are likely to evolve further in the coming years.
5th Jun, 2025
25th May, 2023
11th May, 2023
27th Apr, 2023
Advertisement
Facebook
Whatsapp
