Ultra-Luxury Homes Sales Reach New Heights: 25 Units Sold Across Top Cities for INR 2443 Cr in 8 Months
Ultra-luxury homes sales soar in top cities, with 25 units sold for INR 2443 Cr in just 8 months. Mumbai leads the pack with 21 deals worth INR 2200 Cr.
Ultraluxury HomesLuxury Real EstateAnarock GroupMumbaiHyderabadGurugramBengaluruDelhincrReal Estate MarketIndiaReal Estate PuneSep 05, 2024
The average ticket price of homes priced over INR 40 Cr has seen a 2% rise in the last 8 months, from INR 1,00,208 per sq. ft. in 2023 to INR 1,02,458 per sq. ft. in August 2024. Notably, homes priced over INR 100 Cr have witnessed a 14% price jump in the last eight months alone.
The total value of ultra-luxury homes sold across top cities has reached INR 2443 Cr, with apartments accounting for 80% of the deals. Businessmen and senior professionals from various sectors have been the primary buyers, accounting for 80% and 12% of the deals, respectively.
The demand for luxury and ultra-luxury homes has been on the rise since the pandemic, with developers launching high-priced homes to cater to the growing demand. The collective data of 2022, 2023, and 2024 till August shows that over 99 ultra-luxury residential deals worth approx. INR 8,069 Cr. were closed in the top cities.
At least 13 deals worth approx. INR 1,170 Cr were closed in 2022, of which at least 10 were for apartments and the remaining 3 for bungalows. Mumbai accounted for 11 of these deals, and the remaining two were closed in Delhi-NCR.
In 2023, a total of 61 ultra-luxury homes were sold across top cities, with Mumbai leading the pack with 56 deals. The total value of these deals reached INR 4,456 Cr.
This year, till August, 25 ultra-luxury homes have been sold across top cities, with Mumbai alone accounting for 21 deals worth INR 2200 Cr. The remaining deals were closed in Hyderabad, Gurugram, and Bengaluru.
The ultra-luxury homes market is expected to witness more deals in the remaining four months of the year, with the festive quarter from October to December likely to see increased activity.
About ANAROCK Group
ANAROCK Group is a leading real estate services company that provides comprehensive solutions to its clients. With a strong presence in India and the Middle East, the company offers a range of services, including residential and commercial brokerage, investment advisory, and research and consulting.
Keywords ultra-luxury homes, luxury real estate, ANAROCK Group, Mumbai, Hyderabad, Gurugram, Bengaluru, Delhi-NCR, real estate market, India
FAQs
1. What is the total value of ultra-luxury homes sold across top cities in 2024 till August?
Answer The total value of ultra-luxury homes sold across top cities in 2024 till August is INR 2443 Cr.
2. Which city has witnessed the maximum number of ultra-luxury homes sales in 2024 till August?
Answer Mumbai has witnessed the maximum number of ultra-luxury homes sales in 2024 till August, with 21 deals worth INR 2200 Cr.
3. What is the average ticket price of homes priced over INR 40 Cr in 2024 till August?
Answer The average ticket price of homes priced over INR 40 Cr in 2024 till August is INR 1,02,458 per sq. ft.
4. Who are the primary buyers of ultra-luxury homes?
Answer Businessmen and senior professionals from various sectors are the primary buyers of ultra-luxury homes, accounting for 80% and 12% of the deals, respectively.
5. What is the expected trend in the ultra-luxury homes market in the remaining four months of the year?
Answer The ultra-luxury homes market is expected to witness more deals in the remaining four months of the year, with the festive quarter from October to December likely to see increased activity.
Frequently Asked Questions
What is the total value of ultra-luxury homes sold across top cities in 2024 till August?
The total value of ultra-luxury homes sold across top cities in 2024 till August is INR 2443 Cr.
Which city has witnessed the maximum number of ultra-luxury homes sales in 2024 till August?
Mumbai has witnessed the maximum number of ultra-luxury homes sales in 2024 till August, with 21 deals worth INR 2200 Cr.
What is the average ticket price of homes priced over INR 40 Cr in 2024 till August?
The average ticket price of homes priced over INR 40 Cr in 2024 till August is INR 1,02,458 per sq. ft.
Who are the primary buyers of ultra-luxury homes?
Businessmen and senior professionals from various sectors are the primary buyers of ultra-luxury homes, accounting for 80% and 12% of the deals, respectively.
What is the expected trend in the ultra-luxury homes market in the remaining four months of the year?
The ultra-luxury homes market is expected to witness more deals in the remaining four months of the year, with the festive quarter from October to December likely to see increased activity.
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