New Delhi, Nov 26 (NationPress) The demand for luxury housing in India’s leading seven cities has significantly outpaced other market segments over the past three years. According to a recent report, average prices for homes valued above Rs 1.5 crore increased by approximately 40 percent, climbing from Rs 14,530 per sq. ft. in 2022 to Rs 20,300 per sq. ft. in 2025.

The luxury housing segment continues to dominate the residential market in India’s top seven cities, showcasing not only new supply and absorption but also substantial price appreciation, as highlighted by the real estate services firm ANAROCK.

Leading the charge, the Delhi-NCR area recorded a remarkable 72 percent increase, reaching Rs 23,100 per sq. ft. The Mumbai Metropolitan Region and Bengaluru followed with increases of 43 percent and 42 percent respectively.

On the other hand, affordable housing, defined as homes priced under Rs 40 lakh, experienced a more modest average price rise of 26 percent. Notably, NCR led this segment with a 48 percent growth rate during the same period.

Moreover, mid-range to premium homes (priced between Rs 40 lakh and Rs 1.5 crore) saw a price appreciation of about 39 percent, with Bengaluru achieving the highest growth of 62 percent.

“The persistent demand for luxury homes exceeds that of other categories, driven by a consistent appetite for larger residences from reputable developers in prime locations,” stated Anuj Puri, Chairman of ANAROCK Group.

He further mentioned that out of approximately 2.87 lakh units sold in these cities between January and September, nearly 30 percent were in the luxury segment. This is particularly noteworthy given the nationwide surge in home prices due to rising input costs and robust demand over recent years.

City-specific pricing trends revealed that MMR had the highest average prices across all segments, with luxury homes priced at Rs 40,200 per sq. ft. and affordable homes at Rs 6,450 per sq. ft.