- Sales increased by 53% last year
A total of 19,700 units sold
The demand for luxury homes is increasing in the country. As the number of people seeking spacious homes with luxury amenities steadily grows, the demand for these residences is also rising accordingly. In 2024, sales of luxury homes priced above Rs 4 crore in seven major cities across the country, including Hyderabad, increased by 53%, according to real estate firm CBRE. Last year, a total of 19,700 such homes were sold, compared to 12,895 in 2023.
The report indicates that luxury home sales in Hyderabad increased by 70 units, rising from 2,030 units to 2,100 units. In Delhi-NCR, the highest sales were recorded, with 10,500 units sold. In Mumbai, sales increased from 4,200 units to 5,500 units, while in Pune, they grew from 400 to 825 units. In Bengaluru, sales dropped from 265 units to 50. Kolkata saw sales increase from 310 units to 530, and Chennai experienced growth from 165 units to 275.
With sustained demand for purchases, the residential real estate market remains strong, and this trend is expected to continue in the upcoming quarters, said Anshuman Magazine, Chairman of CBRE. He also noted that cities with middle-range projects, such as Pune and Chennai, are increasingly shifting toward high-end projects.
