In 2024, 59 Ultra-Luxury Homes in India Sold for Rs 4,754 Crore, With 17 Transactions Exceeding Rs 100 Crore
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Mumbai, Jan 9 (NationPress) In the previous year, India recorded the sale of 59 ultra-luxury homes each costing above Rs 40 crore, culminating in a total sales value of Rs 4,754 crore, marking a 17 percent growth compared to 2023, according to a report released on Thursday.
The findings indicated that among the 59 ultra-luxury homes transacted in 2024, at least 17 properties were sold for over Rs 100 crore each. The combined value of these 17 high-end residences was Rs 2,344 crore, as per the Anarock Group report.
In 2023, the market witnessed the sale of 58 ultra-luxury homes amounting to nearly Rs 4,063 crore.
Among the 59 ultra-luxurious homes sold in 2024, 53 were apartments while only six transactions involved bungalows. Notably, 17 deals in 2024 were valued at over Rs 100 crore each—16 in Mumbai and one in Delhi-NCR (specifically Gurugram).
Mumbai emerged as the leader with 52 ultra-luxury residential transactions, accounting for an impressive 88 percent of the total deals.
The Delhi-NCR region recorded three transactions involving two ultra-luxury residences in Gurugram and one in Delhi. Both Hyderabad and Bengaluru each reported two deals exceeding Rs 40 crore, according to the data.
“The annual growth in the number of transactions and their aggregate sales value highlights the continuous demand for ultra-luxury properties across major cities,” remarked Anuj Puri, Chairman of the Anarock Group.
Since the pandemic, there has been a notable uptick in demand for both luxury and ultra-luxury properties.
“High Net-worth Individuals (HNIs) and ultra-HNIs are acquiring these prestigious residences for personal enjoyment, investment, or a combination of both,” stated Puri.
This trend is significant considering the sharp increase in home prices nationwide, driven by rising input costs and strong buyer interest.
Although there was only a marginal increase of one transaction in 2024 compared to 2023, the sales value experienced a 17 percent annual rise. It is clear that apartments remain the favored choice for ultra-HNIs.
“Several leading Grade A developers are expanding their ultra-luxury offerings in response to the surging demand,” Puri added.
