What can a Rs 9 crore buy you in Mumbai real estate market If you have $10 million, you can only buy a house of 1,065 square feet in Mumbai. This means that to purchase a standard 2 BHK home in Mumbai, you would need around Rs 9 crores. In contrast, in the national capital, Delhi, you can buy a house with double the size for the same amount. In Delhi, Rs 9 crores can get you a house of 2,238 square feet. This information was revealed by Knight Frank.
Due to rising home prices in Mumbai, the size of houses that can be purchased for Rs 9 crores has decreased by 3% compared to last year. In 2024, with $10 million, you could purchase a house of 1,097 square feet, but now that has dropped to just 1,065 square feet. In comparison to Mumbai, Delhi offers homes of 2,238 square feet and Bengaluru offers homes of 3,982 square feet for the same price.
Monaco continues to be the world’s most expensive city. With $10 million, you can only buy 204 square feet of space here. The next most expensive cities are Hong Kong (235 square feet) and Singapore (344 square feet). The report also highlights that with the strengthening of the US dollar, the affordability of these cities has increased.
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On the other hand, in Delhi and Bengaluru, prime property price growth remains steady, which is favourable for buyers. According to Knight Frank India Chairman Shishir Baijal, the rise in luxury home prices across the globe places Delhi 18th, Mumbai 21st, and Bengaluru 40th. Delhi has moved from 37th place in 2023 to 18th in 2024. Bengaluru improved from 59th to 40th, while Mumbai dropped 13 places to 21st.
In the global rankings, Seoul holds the top spot with 18.4% annual growth, while Manila, which was at the top in 2023, has dropped to second with 17.9% growth. Dubai (16.9%), Riyadh (16%), and Tokyo (12.1%) follow.
Shishir Baijal, Knight Frank India Chairman and Managing Director, mentioned that Delhi and Bengaluru have demonstrated remarkable growth in the global luxury residential market. The expansion of infrastructure, economic growth, and increased demand for luxury properties have further enhanced the appeal of these cities.
