Delhi-NCR recorded the highest number of luxury unit sales in the first nine months of 2024, according to CBRE's latest report, ‘India Market Monitor Q3 2024—Residential’. The report further suggested that luxury unit sales across India also increased by 37.8% from January to September.
The properties priced at Rs 4 crore and above saw the maximum year-on-year (YoY) growth, accounting for 37.8% of the total sales. A total of 12,625 luxury units were sold in the first nine months of 2024, compared to 9,160 units in 2023.
Around 2.25 lakh units were sold across the top 7 Indian cities between January and September 2024. This means about 5.61 per cent of the total sales were in the luxury segment. The total share of mid-range projects (priced at Rs 45 lakh to Rs 1 crore) constituted about 44 per cent, followed by high-end projects (priced at Rs 1-2 crore) and affordable projects (priced at up to Rs 45 lakh).
Top 7 cities that drove sales:
- Mumbai
- Pune
- Delhi-NCR
- Bengaluru
- Chennai
- Kolkata
- Hyderabad
Delhi-NCR, Mumbai and Hyderabad together accounted for 90 per cent of the sales.
| Rank |
City |
Total Number of Luxury Units Sold |
| 1 |
Delhi-NCR |
5,855 |
| 2 |
Mumbai |
3,820 |
| 3 |
Hyderabad |
1,540 |
Pune also witnessed increased luxury sales activity, with 810 units sold. Kolkata, as a developing residential market, saw a 1.6-fold increase in luxury residential sales.
Similar trends prevailed in the luxury housing segment during the third quarter (July to September) of 2024. The quarter witnessed a total sales of 4,360 luxury housing units compared to 2,390 units in the previous quarter.
The steady demand further encouraged developers to introduce approximately 2,15,000 new projects and additional phases in the market.
The report suggests that homebuyers are inclined towards enhanced amenities and more spacious living areas. It also implies a rise in non-resident and smart domestic investors in the Indian real estate market.
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