Luxury Home Market Sees 23% Rise in Average Ticket Size in Top Indian Cities
India's luxury housing sector witnessed a significant boost in the first half of FY25, with the average home price soaring by 23% to INR 1.23 crore. Despite a slight decline in the number of units sold, the overall sales value surged, highlighting the str
Luxury HousingReal EstateIndian CitiesAnarockProperty PricesReal Estate NewsNov 26, 2024
Anuj Puri, Chairman of Anarock Group, reported that over 2,27,400 units worth INR 2,79,309 crore were sold between April and September 2024. This is a notable increase from the 2,35,200 units worth INR 2,35,800 crore sold during the same period in FY24. Despite a slight 3% dip in the number of units sold, the total sales value surged by 18%, underscoring the strong demand for luxury properties.
A deeper analysis reveals that the National Capital Region (NCR) experienced the most significant growth in average ticket size, which increased by 56% from approximately INR 93 lakh in H1 FY24 to over INR 1.45 crore in H1 FY25. In H1 FY24, 32,315 units valued at INR 30,154 crore were sold in the region. In comparison, 32,120 units worth INR 46,611 crore were sold during the first half of FY25, marking a 55% rise in the value of sales, despite a 1% decrease in the total number of units sold.
In the Mumbai Metropolitan Region (MMR), the average ticket size remained stable at INR 1.47 crore. The number of units sold in MMR increased slightly, with 77,735 units sold in the first half of FY25, compared to 76,410 units sold in H1 FY24. The total sales value, however, grew from INR 1,12,356 crore in H1 FY24 to INR 1,14,529 crore in FY25.
Bengaluru witnessed a 44% jump in the average ticket size, rising from INR 84 lakh in H1 FY24 to INR 1.21 crore in FY25. The city sold 31,440 units valued at INR 26,274 crore in H1 FY24, while nearly the same number of units—31,381—were sold in FY25, but their total value increased to INR 37,863 crore.
Hyderabad saw a 37% increase in the average ticket size of homes sold, from INR 84 lakh in H1 FY24 to INR 1.15 crore in FY25. The number of units sold in the city fell slightly, with 27,820 units worth INR 31,993 crore sold in FY25, compared to 29,940 units valued at INR 25,059 crore in the previous year.
In conclusion, the luxury real estate sector is experiencing a robust recovery, with significant demand and an upward trend in the average ticket size of homes sold across major Indian cities. Despite fewer units being sold, the value of transactions has surged, reflecting the growing affluence of buyers and the sector's resilience. This trend suggests continued growth for premium housing in the coming years.
Frequently Asked Questions
What is the average ticket size of homes sold in top Indian cities in H1 FY25?
The average ticket size of homes sold in the top seven Indian cities in H1 FY25 was INR 1.23 crore, marking a 23% increase compared to INR 1 crore in H1 FY24.
Which region saw the most significant growth in average ticket size?
The National Capital Region (NCR) experienced the most significant growth in average ticket size, increasing by 56% from approximately INR 93 lakh in H1 FY24 to over INR 1.45 crore in H1 FY25.
How did the total sales value change in H1 FY25 compared to H1 FY24?
The total sales value surged by 18% in H1 FY25, reaching INR 2,79,309 crore, compared to INR 2,35,800 crore in H1 FY24, despite a 3% dip in the number of units sold.
What was the average ticket size in the Mumbai Metropolitan Region (MMR) in H1 FY25?
The average ticket size in the Mumbai Metropolitan Region (MMR) remained unchanged at INR 1.47 crore in H1 FY25.
How did the average ticket size in Bengaluru change in H1 FY25?
Bengaluru saw a 44% increase in the average ticket size, from INR 84 lakh in H1 FY24 to INR 1.21 crore in H1 FY25.
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