Sales of luxury homes, each priced Rs 4 crore and above, rose 38 per cent in January-September this year across seven major cities in high demand, according to Real estate consultant CBRE.
Sales of luxury homes, costing Rs 4 crore and above, rose to 12,630 units in January-September 2024 as compared to 9,165 units in the year-ago period.
CBRE noted that Delhi-NCR recorded the highest sales in this price bracket at 5,855 units as against 3,410 units in the year-ago period.
In Mumbai, housing sales rose to 3,820 units from 3,250 units. Sales of luxury homes in Pune more than doubled to 810 units from 330 units.
In Bengaluru, the sales of luxury homes plunged to 35 units from 240 units. Hyderabad saw a marginal fall to 1,540 units from 1,560 units.
In Chennai, housing sales went up to 185 units from 130 units. Sales of luxury homes, priced Rs 4 crore and above each, in Kolkata grew to 380 units during January-September this year from 240 units in the year-ago period.
Experts foresee heightened demand in the high-end and premium segments, with traditional mid-range markets like Noida, Bengaluru, Pune, and Chennai increasingly gravitating towards luxury developments.
"As the market shifts from bungalows to modern apartments and penthouses, the premiumisation of amenities will be a key differentiator in luxury projects," CBRE added.
This shift is fuelled by factors such as rising disposable incomes, increased access to flexible financing, and a preference for modern, amenity-rich living spaces that offer both lifestyle and investment value, CBRE added.
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