Ultra-Luxury Home Sales in India 2024
The Ultra-Luxury Home Sales in India, priced above Rs 40 crore, have shown significant activity in the first eight months of 2024, according to data from real estate consultant Anarock. A total of 25 such high-end properties were sold across major cities including Mumbai, Hyderabad, Gurugram, and Bengaluru, amassing a total sales value of Rs 2,443 crore. Notably, cities like Pune, Chennai, and Kolkata did not record any sales in this exclusive price segment.
The breakdown of sales reveals that Mumbai led the market with 21 ultra-luxury homes sold, totaling Rs 2,200 crore. Hyderabad followed with two significant transactions in Jubilee Hills worth Rs 80 crore, while Gurugram and Bengaluru each closed one deal, valued at Rs 95 crore and Rs 67.5 crore, respectively.
Among the 25 homes sold, 20 were high-rise apartments with a combined value of Rs 1,694 crore, and the remaining five were bungalows, collectively worth about Rs 748.5 crore. Remarkably, nine of these transactions involved properties priced over Rs 100 crore, contributing Rs 1,534 crore to the total sales value.
In comparison, the entire year of 2023 saw 61 ultra-luxury home sales in Mumbai, Hyderabad, and Gurugram, with a cumulative value of Rs 4,456 crore. The previous year also recorded ten transactions exceeding Rs 100 crore, totaling Rs 1,720 crore.
With four months left in 2024, including the festive quarter from October to December, Anarock Chairman Anuj Puri anticipates more high-value residential deals to occur, potentially surpassing the previous year’s figures. This trend underscores the robust demand for ultra-luxury homes in India’s major cities.
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