India's Luxury Housing Market Surges 85% in H1 2025, Led by Delhi-NCR
India's luxury housing market is witnessing a significant surge, with sales up 85% year-over-year in the first half of 2025. Delhi-NCR leads the growth, driven by high net worth individuals (HNWIs), ultra-high net worth individuals (UHNWIs), and non-resident Indians (NRIs).
Luxury HousingReal EstateHnwisUhnwisDelhincrReal Estate NewsJul 11, 2025
During the Jan-Jun 2025 period, Delhi-NCR emerged as the leader in luxury housing sales, with 4,000 units sold, accounting for a 57% share. This represents a threefold increase compared to the same period in the previous year. Mumbai followed with sales of 1,240 luxury units, constituting 18% of the overall luxury sales during H1 2025, marking a 29% YoY growth. Traditionally mid-end markets like Chennai and Pune cumulatively recorded 5% of the overall luxury sales during this period.
A total of 7,300 luxury units were launched in H1 2025, representing a 30% YoY increase. Delhi-NCR, Mumbai, and Hyderabad collectively accounted for over 90% of the total luxury unit launches in H1 2025.
India’s luxury housing market is increasingly attracting high net worth individuals (HNWIs), ultra-high net worth individuals (UHNWIs), and non-resident Indians (NRIs). This surge is driven by the need to safeguard assets amid global uncertainties and benefit from a strengthening U.S. dollar. The report also highlights that overall housing sales across the top seven cities remained robust in Jan-Jun 2025, with 132,000 units sold and 138,000 new units launched, indicating a well-balanced market.
Gaurav Kumar, Managing Director, Capital Markets and Land, CBRE India, noted, “While macro fundamentals remain strong, the standout growth of luxury and premium housing indicates rising consumer confidence and lifestyle aspirations. Developer focus has realigned toward quality, transparency, and experience, all of which are key to unlocking the sector’s next wave of growth.”
The remarkable rise in luxury housing, both in demand and supply, reflects a structural shift in homebuyer preferences, positioning India as a high-potential market for global and domestic investors alike. However, the industry feels the need for urgent reforms, specifically in the areas of approvals, affordable housing, and sustainability.
Manish Singhal, Secretary General, ASSOCHAM, emphasized, “The housing boom, coupled with policy evolution, highlights the need for reforms that ease approvals, redefine affordable housing in urban India, and incentivize sustainable development.” He added that housing is no longer just shelter; it's an engine for inclusive growth. “The report also captures the sector’s evolving dynamics from rising home loan disbursements to the surge in mid-to-high-end housing and formalization of rental housing. These insights provide a comprehensive view of the opportunities and priorities that lie ahead for the Indian real estate ecosystem.”
To unlock sustainable growth in housing, the report calls for streamlining liasing and approvals, redefining affordable housing across Tier-I cities, improving construction and project execution, and expanding PMAY benefits and interest subvention schemes for first-time buyers.
CBRE is the world’s largest commercial real estate services and investment firm, serving a diverse range of clients with integrated services, including facilities, transaction, and project management, and property management, among others. The Associated Chambers of Commerce & Industry of India (ASSOCHAM) is the country’s apex national chamber that advocates actionable policy suggestions to strengthen the economy by leveraging its extensive membership of 450,000 companies.
Frequently Asked Questions
What is the percentage increase in luxury housing sales in India for H1 2025?
Luxury housing sales in India increased by 85% year-over-year (YoY) in the first half of 2025 (H1 2025).
Which city led in luxury housing sales in H1 2025?
Delhi-NCR led in luxury housing sales in H1 2025, accounting for 57% of the overall sales with 4,000 units sold.
What are the key drivers of the surge in luxury housing demand?
The key drivers of the surge in luxury housing demand are the need to safeguard assets amid global uncertainties and benefit from a strengthening U.S. dollar.
What reforms are needed to sustain the growth in the luxury housing market?
Reforms needed to sustain the growth in the luxury housing market include streamlining approvals, redefining affordable housing, improving construction and project execution, and expanding PMAY benefits and interest subvention schemes for first-time buyers.
Who are the main players in the luxury housing market in India?
The main players in the luxury housing market in India include high net worth individuals (HNWIs), ultra-high net worth individuals (UHNWIs), and non-resident Indians (NRIs).
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