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Luxury Housing Extends Lead in India’s Top Cities With 40% Price Jump Since 2022

Strong HNI appetite, premium-brand launches, rising input costs, plus pricier land are steering developers toward upscale projects.

Overview

  • ANAROCK reports average luxury prices rose to about Rs 20,300 per sq ft across the top seven cities, led by Delhi‑NCR’s 72% surge to roughly Rs 23,100.
  • MMR remains the costliest luxury market at approximately Rs 40,200 per sq ft, with Bengaluru’s luxury prices up about 42% to around Rs 16,700.
  • Mid and premium homes appreciated about 39% since 2022, with Bengaluru leading that band at roughly a 62% increase.
  • Affordable housing rose only about 26% to an average Rs 5,299 per sq ft, though Delhi‑NCR logged a 48% rise and Hyderabad about 35%.
  • Luxury units accounted for nearly 30% of roughly 2.87 lakh homes sold in Jan–Sep 2025, while developers warn sub‑Rs 40 lakh projects are increasingly unviable.