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Luxury Home Prices Up 40% in Top Indian Markets as NCR Leads and MMR Remains Costliest

Robust demand from wealthy buyers, alongside premium launches by branded developers, drove the gains.

Overview

  • ANAROCK reports luxury homes above Rs 1.5 crore rose about 40% across the seven biggest cities since 2022 to roughly Rs 20,300 per sq ft.
  • Delhi‑NCR posted the sharpest luxury surge at about 72% to around Rs 23,100 per sq ft, with MMR and Bengaluru up roughly 43% and 42% respectively.
  • MMR retains the highest absolute luxury prices at approximately Rs 40,200 per sq ft, the peak among all markets tracked.
  • Affordable housing under Rs 40 lakh rose a modest 26% to about Rs 5,299 per sq ft on average, with NCR up 48% and Hyderabad up 35%.
  • Nearly 30% of the roughly 2.87 lakh homes sold in Jan–Sep 2025 were luxury units, reflecting demand from HNIs and a pipeline of branded premium projects.