Record Surge in Rs 100-Crore Real Estate Deals in Mumbai, Gurgaon, and Bengaluru
In 2024, Mumbai, Gurgaon, and Bengaluru witnessed a significant surge in luxury real estate deals, with 13 properties over Rs 100 crore sold between January and October, according to a report by Mint. These properties are often located in premium areas li
Luxury Real EstateHighvalue PropertiesMumbaiGurgaonBengaluruReal Estate MumbaiJan 06, 2025
In comparison, 2023 recorded 21 such transactions during the year, indicating a continued interest in ultra-luxury properties.
Ritesh Mehta, Senior Director and Head of North, West, and East Residential Services in India at JLL, highlighted that the just-ended year saw a notable increase in high-value property sales, particularly in Mumbai, Delhi-NCR, and Bengaluru.
“The luxury segment is seeing a lot of traction, with buyers looking for premium locations and top-notch amenities,” Mehta said.
These properties are often located in India’s most coveted areas, such as Mumbai’s Malabar Hill and Pali Hill, and Gurgaon’s Golf Court road.
These locations are known for their exclusivity, privacy, and prime infrastructure, making them highly sought after by affluent buyers.
Anarock Group, a leading property consultant, reported that over the past three years (2022 to 2024 till August), India’s top cities have closed 99 ultra-luxury property deals with a combined value of Rs 8,069 crore.
This indicates a steady trend of high-value real estate transactions, driven by economic growth and increased disposable income among the upper echelons of society.
Overall, India’s real estate market has shown robust growth, recording a 16 percent increase in sales in 2024.
This growth is attributed to various factors, including favorable government policies, improved economic conditions, and a surge in demand for premium properties.
One of the most significant deals of 2024 was the sale of a penthouse for Rs 190 crore in DLF’s The Camellias in Gurugram.
This transaction highlights the growing trend of luxury living and the willingness of high-net-worth individuals to invest in premium real estate.
The surge in luxury real estate deals not only reflects the economic health of these cities but also underscores the growing demand for high-end living spaces.
Developers and property consultants are optimistic about the future, with expectations of continued growth in the ultra-luxury segment.
In conclusion, the real estate market in Mumbai, Gurgaon, and Bengaluru is witnessing a transformative phase, driven by a combination of economic growth and a growing preference for premium living spaces.
The trend is expected to continue, driven by the increasing number of high-net-worth individuals and their growing appetite for luxury properties.
Frequently Asked Questions
How many luxury properties worth over Rs 100 crore were sold between January and October 2024 in Mumbai, Gurgaon, and Bengaluru?
According to a report by Mint, 13 properties worth over Rs 100 crore each were sold between January and October 2024 in these cities.
What are some of the premium locations in Mumbai and Gurgaon for luxury real estate?
Some of the premium locations include Mumbai’s Malabar Hill and Pali Hill, and Gurgaon’s Golf Court road.
What was the overall growth in real estate sales in India in 2024?
India’s real estate market recorded a growth of 16 percent in sales in 2024.
What was the biggest real estate deal of 2024, and where did it take place?
The biggest real estate deal of 2024 was the sale of a penthouse for Rs 190 crore in DLF’s The Camellias in Gurugram.
What factors are driving the growth in luxury real estate deals in India?
The growth in luxury real estate deals is driven by favorable government policies, improved economic conditions, increased disposable income, and a growing demand for premium properties among high-net-worth individuals.
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