Synopsis
India's ultra-luxury home market has seen 49 residences sold for Rs 7,500 crore in the past three years, highlighting a trend where apartments surpass bungalows in popularity. The momentum continues into 2025 with further significant sales.Key Takeaways
- 49 luxury homes sold in 3 years for Rs 7,500 crore.
- Apartments dominate the luxury segment.
- Mumbai and Delhi NCR are leading markets.
- High-value transactions include properties over Rs 200 crore.
- Most apartments sold were sized between 10,000-16,000 sq ft.
Mumbai, March 29 (NationPress) The ultra-luxury home market in India is experiencing remarkable growth, with a total of 49 residences sold over the past three years, each priced at Rs 100 crore or more, accumulating to a staggering Rs 7,500 crore, as indicated by a report released on Saturday.
This surge highlights the thriving luxury real estate sector in India, where there has been a notable increase in ultra-luxury residential sales, with apartments now leading the market compared to bungalows.
The trend shows no signs of deceleration, as the initial two months of 2025 recorded four ultra-luxury home sales totaling Rs 850 crore, per a report from JLL.
Contrary to previous beliefs, independent homes like bungalows and villas are no longer the exclusive symbols of prestigious residences.
“Our analysis reveals that apartments priced at Rs 100 crore and above accounted for 65 percent of all transactions in the last three years, while bungalows made up the remaining 35 percent,” stated Dr. Samantak Das, Chief Economist and Head of Research and REIS, India at JLL.
Additionally, some properties were sold at even higher price points, ranging from Rs 200 to Rs 500 crore, Das further elaborated.
The demand for premium residential properties continues to grow across various Indian cities, with Mumbai and Delhi NCR leading the market for potential buyers of these exclusive homes.
“Buyers within the Rs 100 crore and above range typically include C-suite executives from major business conglomerates, celebrities, and founders of emerging startups,” noted Siva Krishnan, Senior Managing Director (Chennai and Coimbatore), Head - Residential Services, India, JLL.
Among the 49 homes sold in the past three years, Mumbai comprised 69 percent of the transactions, followed by Delhi NCR. In Mumbai, areas like Malabar Hill and Worli were the most active in these sales.
In Delhi NCR, high-value transactions were not limited to the Lutyens Bungalow Zone (LBZ) alone.
Numerous high-rise apartment deals along Golf Course Road in Gurugram were also noted,” Krishnan explained.
Of all the apartments sold in the Rs 100 crore and above segment in the past three years, most ranged from 10,000 to 16,000 sq ft in super built-up area, the report stated.
