Tag Archives: Luxury Homes

In Jan-March 2024, luxury homes priced above Rs 4 crore saw a 10% year-year increase across the top seven cities

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From January to March 2024, sales of luxury housing units priced at Rs 4 crore or higher increased by 10% yearly in even major cities. According to CBRE South Asia’s India Market Monitor Q1 2024 report, the luxury segment accounted for approximately 5% of total residential unit sales. 

According to the data, total sales in this price category were 4,140 units across seven major cities in January-March this year,  up from 3,780 units the previous year.

Between January and March 2024, there was a nearly 64% increase in new luxury segment unit launches yearly.  

Mumbai saw a 15% year-on-year increase in luxury housing unit sales worth Rs 4 crore or more in the most recent quarter. Sales in Delhi-NCR fell from 1,880 to 1,150 units during the review period. 

Sales in Bengaluru fell from 70 to 10 units. Kolkata’s population fell from 110 to 70 units. Sales in Pune increased dramatically, from 150 to 700 units. In Hyderabad, sales increased from 380 to 800 units.  

45% of the luxury housing stock was injected in the last five years.

The resurgence of India’s luxury residential real estate has fueled rapid growth, accounting for approximately 45% of total luxury stock injections in the last five years. Since 2019, the segment has grown at a CAGR of more than 9% in gateway cities. 

In addition, Mumbai dominates the luxury segment, accounting for more than 40% of the country’s total luxury inventory from January to March 2024. The city is a well-known and highly desirable market, attracting many HNIs and UHNIs, including top executives and Bollywood celebrities. 

Mumbai’s premium locations, including Altamont Road, Nepean Sea Road, Worli, Prabhadevi, Juhu, and Bandra (West), have high capital values, with average ticket sizes ranging from Rs 20 to over 60 crores. Occasionally, apartments priced over Rs 100 crore are also recorded. 

Delhi-NCR follows closely, accounting for more than 25% of the country’s luxury inventory between January and March 2024. 

The Delhi-NCR luxury market 

Luxury properties in Delhi, similar to Mumbai, are concentrated in the southern part of the city, with areas such as Amrita Shergill Marg, Golf Links, and Prithviraj Road commanding average ticket sizes ranging from Rs 40 to Rs 60 crore. Gurgaon has recently emerged as the region’s leading luxury market. 

The demand for gated communities increased during the COVID-19 pandemic, enhancing Gurgaon’s reputation as a luxury destination. Average ticket sizes at DLF Phase ½, Golf Course, and Golf Course Extension range from Rs 10 to 20 crore. 

Furthermore, Hyderabad, experiencing remarkable growth thanks to a pro-business environment, ranks third with nearly 10% of the country’s luxury inventory. The city has seen an influx of luxury apartments and a surge in demand for this segment. In Jubilee Hills, Banjara Hills, Hitech City, Raidurg, and Neopolis, average ticket sizes range from Rs 20 to over Rs 40 crore. 

Homes priced between Rs 45 lakh and Rs 1 crore accounted for 47% of total sales. 

Overall residential sales across categories reached nearly 85,000 units from January to March 2024, representing an 8% year-over-year increase. Demand remained strong, prompting development to build 80,000 new housing units in the first quarter of 2024. From January to March 2024, mid-end projects (priced between Rs 45 lakh to Rs 1 crore) accounted for 47% of total sales, followed by high-end (Rs 1 to Rs 2 crore) and affordable (up to Rs 45 lakh). 

Pune, Mumbai, and Bengaluru accounted for approximately 65% of total sales. However, from January to March 2024, unit launches in Mumbai, Pune, and Hyderabad account for nearly 69% of the total. 

“The Indian luxury real estate sector has strong fundamentals for sustained growth, supported by consistent increases in household income and consumer spending power. These factors are expected to create a segment of discerning buyers who value quality, financial prudence, and a desire for an elevated living experience,” said Anshuman Magazine, CBRE’s chairman and CEO for India, South-East Asia, the Middle East, and Africa. 

India’s 5 most expensive houses

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India’s wealthiest truly have luxurious tastes and live in prestigious residences with unique names, unexpected architecture, elegant interiors, and first-class services. Here, we’re showing billionaire homes. So, if you are eager to know which of these billionaires of India live in the most expensive houses then you are on the right way. Read on propertywala as we take you through the list of India’s 5 most expensive houses.

1. MUKESH AMBANI’S ANTILIA:

Reliance Industries Limited chairman, a business tycoon, Mukesh Ambani is one of the wealthiest men in India. His luxury house comes on the top list of India’s 5 most expensive houses. Therefore, a man who currently holds the title of 11th richest person in the world lives in Antilia, the most expensive private residence in India.

5 facts about Antilia, Mukesh Ambani's $2 billion Mumbai mansion | Architectural Digest India

Let’s know about Antilia’s house:

  1. It is located at Altamount Road, Mumbai, Maharashtra
  2. The area of Antilia (in sq. ft.) is 4 lakh sq. ft.
  3. Total no. of floors 27.
  4. Mukesh Ambani’s house has approx. 600 staff.
  5. Other vital features: 9 high-speed elevators, a Private movie theater, 3 helipads, a hanging garden, an ice-cream parlor, a salon, and a gym. Apart from this, there is a parking space for 168 cars with 6 floors of car parking.
  6. The price of the house is approximately 15,000 crores.

2. GAUTAM VIJYAPAT SINGHANIA‘S JK HOUSE:

The chairman and Managing Director of the Raymond Group, the world’s largest producer of suiting fabric. He has a mansion that is called JK House, which will be a combination of a private residence and a textile showroom.

Most Luxurious House In India - Check Out The Most Expensive Homes
  1. The location of the house is Altamount Road, Mumbai, Maharashtra, located next to Antilia.
  2. The area of the house ( in sq. ft.) is 16,000 square feet.
  3. The total no. of floors is 30.
  4. There are 6 Parking floors.
  5. Some other features: 2 swimming pools, a spa, a gym, and 1 helipad.
  6. The price of the house is 6000 crores.

3. MR. ANIL DHIRUBHAI AMBANI’S LUXURY HOUSE ‘ABODE’:

A top businessman in India and the Chairman of Reliance ADA Group Mr. Anil Dhirubhai Ambani’s property offers luxurious and 7- star hotel amenities. This luxury villa is known as Abode.

Inside Jai Anshul and Jai Anmol Ambani's 14-storey Mumbai home – yes, they still live with parents Anil and Tina, but it's no Antilia ... | South China Morning Post

Let’s have a closer look at this magnificent property:

  1. It is located at Pali Hill, Mumbai
  2. The area of the house ( in sq. ft.) is 16,000 sq. ft.
  3. The total no. of floors is 17.
  4. Other vital features are: a swimming pool, a gym, 1 helipad, parking space, and a lounge area displaying Ambani’s car collections.
  5. The price of the house is 5,000 Crores.

4. MR. KUMAR MANGALAM BIRLA JATIA HOUSE:

Jatia House is also one of the most expensive houses. It is owned by the chairman of Aditya Birla Group, Mr. Kumar Mangalam Birla, a Chartered Accountant.

news mumbai kumar mangalam birla to pay rs crore for bungalow -m.khaskhabar.com
  1. Jatia House is located at Little Gibbs Rd, Malabar Hill, Mumbai.
  2. The area of the house (in sq. ft.) is 30,000 square feet.
  3. There is a total of 3 floors.
  4. Some other features of Jatia House are: a grand garden, a small pond, a central courtyard, and 20 bedrooms.
  5. The price of the house is 425 crores.

5. SHAHRUKH KHAN’S MANNAT:

The King Khan of Bollywood, Shahrukh Khan is one of the most loved stars in the Hindi film industry. His house, Mannat, is a famous landmark in Mumbai city. His house looks very glamorous and has become a tourist place for his fans.

MP man drunk calls Mumbai police, threatens to allegedly blow up Shah Rukh Khan's Mannat, gets arrested | People News | Zee News
  1. The address of the house is Mannat, Land’s End, Bandra (West), Mumbai.
  2. The area of Mannat (in sq. ft.) is 27,000+ square feet.
  3. There are 6 floors.
  4. Other vital features in Mannat are multiple bedrooms, living areas, a gym, pool, library, a private movie theater, Shahrukh’s office, an impressive terrace, and a bar. 
  5. The house price is estimated to be around Rs. 200 crores.

Watch the full video on YouTube by clicking on the link https://youtu.be/ZKCE7uUsSxU

Comeback of Luxury Homes

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After a year, the realty market seems to be overwhelmed with the comeback of the demand of luxury homes. Apart from the prime locations like Bangalore and Mumbai, the tier-II or tier-III cities, such as Nagpur and Ahmadabad are also witnessing remarkable growth as far as luxury homes are concerned. Within just six months, these cities have seen a rise of about 20-25% in account of premium residential projects.

Some of the developers who have floated several luxurious schemes across the country in order to grab more and more investors and end-users are Hiranandanis, Sobha, DB Realty, Lodhas , Indiabulls and Prestige.

However, each city has its own range of prices of these luxury homes. The cities Bangalore and Hyderabad have a pricing of Rs 6,000 per sq ft while the pricing in Mumbai is Rs 30,000 per sq ft.

“From Jones Lang LaSalle Meghraj (JLLM) which is a real-estate consultant, the managing director, strategic consulting, Mr. Deepak Bhavsar said that there has been an increase of 10-12% projects in Delhi NCR and Mumbai.