Wed Nov 20 08:12:45 UTC 2024: ## Luxury Housing Market Booms in India’s Top Cities
**Mumbai, India – October 26, 2024** – India’s luxury housing market is experiencing a significant surge, driven by increased disposable income and consumer spending, according to a new report from Anarock Group. The average price of homes sold in the top seven Indian cities jumped 23% year-on-year in the first half of fiscal year 2025 (H1 FY2025), reaching ₹1.23 crore (approximately $1.48 million USD).
Despite a slight 3% decrease in the total number of units sold (from approximately 235,200 to 227,400), the overall sales value surged by 18% to ₹279,309 crore (approximately $33.7 billion USD) between April and September 2024. This dramatic increase highlights the growing demand for high-end properties.
Delhi-NCR led the charge, witnessing a stunning 56% increase in average property prices, rising from ₹93 lakh to over ₹1.45 crore. While unit sales in the region saw a minor 1% dip, the value of sales increased by a remarkable 55%. Bengaluru followed closely, with a 44% jump in average price, reaching ₹1.21 crore. Hyderabad also saw strong growth, with a 37% increase to ₹1.15 crore. Interestingly, the Mumbai Metropolitan Region (MMR) showed no change in average price during this period.
Anuj Puri, Chairman of Anarock Group, attributed the boom to record-breaking new launches and sales of luxury homes, fueled by post-pandemic demand. The report underscores a clear shift towards higher-value properties in India’s major urban centers.
First Piper 