+
Ultra-luxury homes worth Rs 24.43 billion sold in top 4 cities in 2024
Real Estate

Ultra-luxury homes worth Rs 24.43 billion sold in top 4 cities in 2024

Sales of ultra-luxury homes, each priced over Rs 400 million, reached 25 units across major cities until August this year, with a total value of Rs 24.43 billion, as reported by real estate consultant Anarock. Their data indicated that these homes were sold in Mumbai, Hyderabad, Gurugram, and Bengaluru during the first eight months of 2024, amounting to Rs 24.43 billion in cumulative sales.

However, no sales were recorded in Pune, Chennai, or Kolkata within this exclusive price bracket. The figures covered both the primary and secondary markets.

In 2023, around 61 such deals had taken place, generating a total sales value of Rs 44.56 billion across Mumbai, Hyderabad, and Gurugram.

Anarock Chairman Anuj Puri mentioned that with four months left in 2024 and the festive quarter approaching, more high-value residential deals are expected before the end of the year.

Of the 25 ultra-luxury homes sold so far in 2024, at least 20 were high-rise apartments valued at Rs 16.94 billion, while the remaining five were bungalows, together worth about Rs 7.48 billion.

Mumbai accounted for the majority of sales, with 21 units sold for a combined value of Rs 22 billion. In Hyderabad?s Jubilee Hills, two ultra-luxury homes were sold for a total of Rs 800 million. Gurugram saw the sale of a single home for Rs 950 million, while Bengaluru closed one deal worth Rs 670.5 million.

Out of the 25 deals made this year, nine involved properties worth over Rs 1 billion each, totalling Rs 15.34 billion in sales. Anarock also noted that in 2023, there were 10 such large-ticket transactions, with a collective value of Rs 17.20 billion.

Sales of ultra-luxury homes, each priced over Rs 400 million, reached 25 units across major cities until August this year, with a total value of Rs 24.43 billion, as reported by real estate consultant Anarock. Their data indicated that these homes were sold in Mumbai, Hyderabad, Gurugram, and Bengaluru during the first eight months of 2024, amounting to Rs 24.43 billion in cumulative sales. However, no sales were recorded in Pune, Chennai, or Kolkata within this exclusive price bracket. The figures covered both the primary and secondary markets. In 2023, around 61 such deals had taken place, generating a total sales value of Rs 44.56 billion across Mumbai, Hyderabad, and Gurugram. Anarock Chairman Anuj Puri mentioned that with four months left in 2024 and the festive quarter approaching, more high-value residential deals are expected before the end of the year. Of the 25 ultra-luxury homes sold so far in 2024, at least 20 were high-rise apartments valued at Rs 16.94 billion, while the remaining five were bungalows, together worth about Rs 7.48 billion. Mumbai accounted for the majority of sales, with 21 units sold for a combined value of Rs 22 billion. In Hyderabad?s Jubilee Hills, two ultra-luxury homes were sold for a total of Rs 800 million. Gurugram saw the sale of a single home for Rs 950 million, while Bengaluru closed one deal worth Rs 670.5 million. Out of the 25 deals made this year, nine involved properties worth over Rs 1 billion each, totalling Rs 15.34 billion in sales. Anarock also noted that in 2023, there were 10 such large-ticket transactions, with a collective value of Rs 17.20 billion.

Next Story
Infrastructure Transport

Syama Prasad Mookerjee Port Partners to Redevelop Nimtala Ghat

Kolkata: Syama Prasad Mookerjee Port, Kolkata (SMPK), signed a Memorandum of Understanding (MoU) on Tuesday with PS Group Realty Private Limited to redevelop and beautify Nimtala Ghat as part of PS Group’s Corporate Social Responsibility (CSR) initiative.The agreement was formalised at SMPK’s Head Office at 15, Strand Road, in the presence of SMPK chairman Rathendra Raman, deputy chairman Samrat Rahi, PS Group directors Saurav Dugar, Gaurav Dugar, Arun Sancheti, and senior SMPK officials.Under the MoU, PS Group will undertake the full redevelopment and permitted construction of Nimtala Imm..

Next Story
Infrastructure Urban

CSIR-NCL and Covestro Collaborate to Upcycle Polyurethane Waste

In a move towards sustainable plastic waste management, Pune-based CSIR-National Chemical Laboratory (CSIR-NCL) signed a Memorandum of Understanding (MoU) with Covestro (India) Private Limited on Wednesday to develop innovative upcycling technologies for polyurethane waste.Polyurethane is notoriously difficult to recycle, with current methods often proving inefficient, costly, and environmentally harmful. This collaboration aims to address existing challenges, including high energy usage and deterioration of material quality during recycling.Ashish Lele, director of CSIR-NCL, stated, “This p..

Next Story
Infrastructure Urban

Torrent Pharma Seeks CCI Approval for Rs 195 Billion JB Chemicals Deal

Ahmedabad-based Torrent Pharmaceuticals has sought clearance from the Competition Commission of India (CCI) to acquire a majority stake in J B Chemicals and Pharmaceuticals in a Rs 195 billion deal.Upon completion, Torrent Pharmaceuticals will become India’s second most valuable pharmaceutical company.The move follows Torrent’s June announcement to acquire a majority stake in J B Chemicals for Rs 195 billion.“The proposed combination pertains to the acquisition of shareholding by Torrent Pharmaceuticals Ltd in J B Chemicals & Pharmaceuticals Ltd, followed by the merger of the target ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?