India's luxury real estate market is booming, with sales of high-end homes above INR 4 crore rising by 37.8% in the first nine months of 2024. Cities like Delhi-NCR, Mumbai and Hyderabad are seeing strong demand. This growth is driven by high-net-worth individuals (HNIs) and wealthy buyers looking for premium amenities and exclusive living spaces. Developers are responding by creating luxury-focused projects to meet this interest. Real estate remains a popular investment in India, with many viewing luxury homes as stable, long-term assets.
India's luxury real estate market is seeing strong growth, particularly in cities like Delhi-NCR, Mumbai, and Hyderabad. Demand for high-end homes is rising, driven by India's expanding economy and evolving buyer preferences. Wealthy buyers and high-net-worth individuals (HNIs) are showing great interest in properties priced over INR 4 crore, boosting luxury home sales significantly.
This year, luxury home sales reached 12,625 units, a notable increase from 9,160 units sold in the same period last year. Delhi-NCR saw the most sales, with 5,855 units. Delhi-NCR led with 5,855 units, while Mumbai and Hyderabad also had high demand. Together, these three regions made up nearly 90% of sales across India's top seven cities.
Experts say this growth comes from India's growing economy and changing buyer preferences. The main buyers are high-net-worth individuals (HNIs) who want homes with modern amenities, privacy, and a high-quality lifestyle.
Developers are meeting this demand by creating exclusive luxury projects, often with eco-friendly designs and premium facilities. Amit Modi, Director at County Group, shared that affluent buyers are drawn to larger, more luxurious homes that offer comfort and good investment returns.
The shift to luxury homes is tied to a demand for exclusive amenities, privacy, and sustainable living spaces. High-net-worth individuals are leading this trend, seeking homes that suit their lifestyle and add value. Many developers are responding by creating projects on privacy, premium amenities, and sustainable options.
The 'Homebuyer Sentiment Survey-H1 2024' by FICCI-Anarock shows that real estate is the top investment choice for many Indians. About 59% of respondents chose it as their preferred option. Real estate is valued for its stability and potential for long-term growth, with luxury properties now playing a major role in this trend.
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