Sale Of Ultra-luxury Homes Up Threefold In 2023: Report

Owing to the strong demand this year, sales of ultra-luxury (lavish and luxurious) houses in seven major cities have exceeded Rs 4,093 crore, three times the amount last year. This data has been revealed by a real estate consulting firm, Anarock. According to a recent report by Anarock, in the top seven cities of India — Delhi-NCR (National Capital Region), Mumbai-MMR (Mumbai Metropolitan Region), Chennai, Kolkata, Bangalore, Hyderabad, and Pune — sales of 58 units valued at Rs 4,063 crore have taken place this year.

As per the figures released by Anarock on Thursday, 13 units were sold with a total value of Rs 1,170 crore. Anuj Puri, Chairman of Anarock, noted, “Demand for both luxury and ultra-luxury properties has surged since the pandemic, with HNIs (High Net Worth Individuals) and ultra-HNIs buying such homes for investment, personal use, or both.”

Out of the 58 ultra-luxury properties sold in the top seven cities so far in 2023, Mumbai alone witnessed the sale of 53 units. Two apartments were sold in Gurugram, and two bungalows were sold in New Delhi. A residential deal worth over Rs 40 crore took place in Jubilee Hills, Hyderabad. According to a report by Deccan Herald, Mohit Jain, Managing Director of Krisumi Corporation in Gurugram, commented on Anarock’s report, saying, “In recent years, there has been a notable surge in the aspiration for home ownership across various income levels, driven largely by an improved economic landscape and a desire to elevate living standards.”

Mumbai Homes Sold For Over Rs 200 Crore In Value

Out of the 53 ultra-luxury homes sold in Mumbai, three were priced at over Rs 200 crore. In addition, seven deals were in the range of Rs 100 to Rs 200 crore. In Delhi, two homes were sold at prices exceeding Rs 100 crore. This year, 12 homes were sold for over Rs 100 crore. Among the homebuyers, 79% were businessmen, 16% were from different professions, and the remaining 5% included politicians and film personalities.