India's Luxury Real Estate Boom: Ultra-Luxury Home Sales Surge

India is experiencing a significant boom in its luxury real estate sector, with sales of ultra-luxury homes skyrocketing. In 2024, an impressive 25 homes, each valued between Rs 100-200 crore, were sold, totaling an impressive Rs 3,652 crore. This surge in sales is largely attributed to the growing number of ultra-high-net-worth individuals in the country. The trend shows no signs of slowing down, as evidenced by the sale of four homes worth Rs 850 crore in the first two months of 2025 alone.

The preference for apartments over bungalows in the ultra-luxury segment is notable, with apartments comprising 65% of these sales and bungalows the remaining 35%. High-rise apartments offering state-of-the-art amenities are becoming the epitome of luxury living. Some of these exclusive properties have fetched between Rs 200-500 crore, highlighting the substantial demand in this market segment.

Over the last three years, Mumbai and Delhi NCR have been at the forefront of this luxury real estate boom, with 49 ultra-luxury homes sold, bringing in a total of Rs 7,500 crore. The majority of these transactions occurred in the Rs 100-200 crore price bracket. This shift towards high-end real estate is further supported by the increasing count of billionaires in India, ensuring that the demand for these luxurious homes remains robust.