India's Luxury Housing Market Sees Record Growth in 2024

Demand for high-end properties rises sharply as affluent buyers prioritize exclusivity and premium lifestyles.

Luxury housing sales in India's top seven markets grew by 18% in value during the first half of FY 2024-25, reaching ₹279,309 crore, despite a 3% drop in the number of units sold.
Mumbai led the market with ₹114,529 crore in premium property sales, followed by Delhi-NCR and Bengaluru, highlighting a nationwide trend toward high-end real estate.
Average housing prices across major cities rose 11% year-over-year in Q3 2024, with Delhi-NCR seeing the highest price surge at 32%, driven by luxury and ultra-luxury demand.
Developers are catering to affluent buyers with unique offerings such as holiday homes, farmhouses, and ultra-luxury villas, reflecting a shift toward lifestyle-focused investments.
Unsold inventory across eight major cities dropped for the third consecutive quarter, with developers focusing on luxury projects to meet growing demand for spacious and premium living spaces.