Luxury Housing Sees 28% Growth in Q1 2025 Across India’s Key Cities

17 Apr 2025 CW Team

Delhi-NCR led the market, contributing about 49 per cent of total luxury unit sales, a massive rise from 13 per cent in Q1 2024. Mumbai followed with a 23 per cent share, though this marked a slight dip from the previous year. Meanwhile, Bengaluru and Kolkata saw remarkable growth, with Bengaluru increasing its share from 1 per cent in Q1 2024 to 10 per cent in Q1 2025, and Kolkata rising from 1 per cent to 5 per cent. Chennai's luxury housing share also grew, from 3 per cent to 5 per cent. In contrast, Hyderabad's luxury market suffered a steep decline, dropping from 45 per cent to just 5 per cent. Pune's share also decreased, from 6 per cent to 3 per cent.

The strong performance of Delhi-NCR, which saw around 950 luxury units sold, was a standout. Mumbai's sales followed, with Bengaluru recording the highest growth in the southern region, going from 20 units in Q1 2024 to around 190 units in Q1 2025. Kolkata and Chennai each held 5 per cent of the market share.

In the broader residential market, Q1 2025 witnessed a balance between new launches and sales. Approximately 65,300 units were launched, and 65,800 units were sold. The high-end segment led the charge, representing 27 per cent of total sales, closely followed by the mid-end segment at 25 per cent. Mumbai, Pune, and Delhi-NCR together accounted for over 62 per cent of total residential sales, with Mumbai leading in unit sales at around 18,600, followed by Pune with 12,500 units.

With favourable market conditions, rising incomes, and strong infrastructure development, India's residential market is poised for continued growth in 2025. The Reserve Bank of India's upcoming monetary easing cycle is expected to further fuel market momentum, making homeownership more accessible for buyers across key regions.

India's luxury housing segment experienced strong growth in Q1 2025, with a 28 per cent year-on-year increase in sales across the top seven cities. This surge resulted in the sale of approximately 1,930 luxury units during the quarter. Delhi-NCR led the market, contributing about 49 per cent of total luxury unit sales, a massive rise from 13 per cent in Q1 2024. Mumbai followed with a 23 per cent share, though this marked a slight dip from the previous year. Meanwhile, Bengaluru and Kolkata saw remarkable growth, with Bengaluru increasing its share from 1 per cent in Q1 2024 to 10 per cent in Q1 2025, and Kolkata rising from 1 per cent to 5 per cent. Chennai's luxury housing share also grew, from 3 per cent to 5 per cent. In contrast, Hyderabad's luxury market suffered a steep decline, dropping from 45 per cent to just 5 per cent. Pune's share also decreased, from 6 per cent to 3 per cent. The strong performance of Delhi-NCR, which saw around 950 luxury units sold, was a standout. Mumbai's sales followed, with Bengaluru recording the highest growth in the southern region, going from 20 units in Q1 2024 to around 190 units in Q1 2025. Kolkata and Chennai each held 5 per cent of the market share. In the broader residential market, Q1 2025 witnessed a balance between new launches and sales. Approximately 65,300 units were launched, and 65,800 units were sold. The high-end segment led the charge, representing 27 per cent of total sales, closely followed by the mid-end segment at 25 per cent. Mumbai, Pune, and Delhi-NCR together accounted for over 62 per cent of total residential sales, with Mumbai leading in unit sales at around 18,600, followed by Pune with 12,500 units. With favourable market conditions, rising incomes, and strong infrastructure development, India's residential market is poised for continued growth in 2025. The Reserve Bank of India's upcoming monetary easing cycle is expected to further fuel market momentum, making homeownership more accessible for buyers across key regions.

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