Skip to main content

Recession? 59 ultra-luxury homes worth INR 4,754 Cr sold in 2024, 17% yearly surge

Counterview News    
Notwithstanding its spiralling prices, the ultra-luxury residential segment in India continues to thrive, with 2024 setting new records for sales and total value. According to ANAROCK data, 59 ultra-luxury homes (priced above INR 40 Cr each) were sold across the top seven cities for a collective sales value of approximately INR 4,754 Cr. This marks a 17% increase in sales value compared to 2023, which saw 58 homes sold for INR 4,063 Cr.
Mumbai retained its dominance, accounting for 52 of the 59 ultra-luxury deals in 2024, representing an 88% share. Among these, at least 16 transactions were valued above INR 100 Cr, primarily concentrated in prime areas such as Worli, Malabar Hill, and Pali Hill.
Anuj Puri, Chairman of ANAROCK Group, highlighted the sustained demand for such properties despite rising prices. “HNIs and ultra-HNIs continue to invest in trophy residences for personal use and as long-term investments. The 17% annual increase in sales value underscores this demand.”
Key Market Trends
Apartments vs. Bungalows: Of the 59 deals in 2024, 53 were for ultra-luxury apartments, while only six were bungalows. Apartments clearly remain the preferred choice for ultra-HNIs.
Deals Above INR 100 Cr: 17 homes priced over INR 100 Cr were sold in 2024, contributing INR 2,344 Cr to the total sales value.
Delhi-NCR, Bengaluru, and Hyderabad: Delhi-NCR recorded three ultra-luxury transactions, including one home priced above INR 100 Cr in Gurugram. Bengaluru and Hyderabad each reported two deals over INR 40 Cr.
A Retrospective on 2022-2023
The ultra-luxury housing segment witnessed a significant post-pandemic boom:
2022: 13 deals worth INR 1,170 Cr were closed, with Mumbai contributing 11 transactions.
2023: 58 homes worth INR 4,063 Cr were sold, with Mumbai accounting for 53 deals (91% share).
Between 2022 and 2024, at least 130 ultra-luxury homes worth nearly INR 9,987 Cr were sold, reinforcing the segment's growing appeal.
The ultra-luxury housing market continues to defy economic challenges, driven by a strong appetite among HNIs and ultra-HNIs. With Grade A developers expanding their portfolios in this segment, 2025 is poised to sustain this growth trajectory.

Comments

Post a Comment

NOTE: Hateful, abusive comments won't be published. -- Editor

TRENDING

The making of a self-made woman: How eighty sheep changed everything for Kalawati Ninama

By Vikas Meshram*  About forty-two kilometres from Rajasthan's Banswara district, in the tribal heartland of Ghatol block, lies the small village of Ubapana. This is where Kalawati Ninama, her husband Dhulji, and their four children make their home. Their days unfold much like those of their neighbours—bustling mornings, long hours of farm labour through the afternoon, and evenings spent tending livestock. For this family, farming and livestock were once simply a means of putting food on the table. Today, they have become the sturdy foundation of something far greater: genuine self-sufficiency.
Post a Comment
»

Ahmedabad world’s least climate resilient major city: AlphaGeo study

By Rajiv Shah  A new study has ranked Ahmedabad as the least climate-resilient major city in the world , highlighting a dangerous gap between the city’s extreme physical vulnerability to climate hazards and its capacity to adapt. Cited by The New York Times , the analysis, conducted by geospatial artificial intelligence firm AlphaGeo , places the Indian city at the top of a list of global urban centres most exposed to climate risk.
Post a Comment
»

India has spent billions on skilling. Where are the jobs?

By Vikas Gupta   India loves the photograph of a certificate ceremony. A minister on a stage. A banner bearing the word “skill.” Young people holding folders that promise a future. It is a reassuring image because it tells us the problem has a manageable answer: train the young, make them job-ready, and work will follow.
Post a Comment
»