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

10 Sep 2024 CW Team

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.

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