Luxury Housing Sales Surge 85% in H1 2025, Fueled by HNI and NRI Demand
Sales of luxury houses, priced at ₹4 crore and above, surged by 85% year-on-year to over 7,000 units in the top seven cities during the first half of 2025. Delhi NCR led the charge, contributing around 57% of total sales, followed by Mumbai. This growth was fueled by demand from high net worth individuals (HNIs) and non-resident Indians (NRIs) seeking asset stability in times of global uncertainty, according to a joint report by CBRE and Assocham.
Among the cities, Delhi NCR dominated the luxury market, contributing around 57% of total sales with approximately 4,000 units. Mumbai followed with 1,240 units. Traditionally mid-end dominated markets like Chennai and Pune collectively recorded around 5% of the overall luxury sales during H1 2025.
This period also saw the launch of 7,300 luxury units, marking a 30% year-on-year increase from the same period last year. Delhi NCR, Mumbai, and Hyderabad accounted for over 90% of the total luxury unit launches in H1 2025.
Gaurav Kumar, Managing Director, Capital Markets and Land at CBRE India, commented on the reasons behind this growth. He stated that while macroeconomic fundamentals remain strong, the standout growth in 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,” he added.
Industry experts are optimistic that the market will continue to perform well in the second half of the year. The report attributes this growth to rapid urbanisation, favorable demographic trends, urban migration, and rising disposable household income. These factors are expected to drive steady sales figures for the residential market.
Jash Panchamia, Executive Director at Jaypee Infratech, highlighted the improving market sentiment and shifting consumer preferences driven by exposure to world-class developments. He noted, “The coming months could very well pave the way for sustained growth, heightened activity, and fresh opportunities across the housing market.”
However, the report also calls for reforms to streamline approvals, improve project execution, and bolster buyer confidence. This includes expanding Pradhan Mantri Awas Yojana (PMAY) benefits and interest subvention schemes for first-time buyers, along with ensuring uniform implementation of Rera and stricter penalties for non-compliance.
Manish Singhal, Secretary General of Assocham, emphasized the need for reforms that ease approvals, redefine affordable housing in urban India, and incentivize sustainable development. The housing boom, coupled with policy evolution, highlights the importance of these reforms to sustain the growth momentum.
