Unprecedented Growth in Ultra-Luxury Home Sales

In an extraordinary display of wealth and demand, the year 2024 witnessed a record-breaking number of ultra-luxury home sales. A total of 59 properties, comprising 53 apartments and six bungalows, were sold for approximately Rs 4,754 crore. Mumbai emerged as the hotspot for these high-end transactions, accounting for 52 of the deals, followed by Delhi NCR, Hyderabad, and Bengaluru.

Top Deals of the Year

The year's most expensive transaction was a bungalow in Mumbai's prestigious Cuff Parade area, fetching a staggering Rs 500 crore. Not far behind, a condominium in Gurgaon's DLF Camellias was sold for Rs 190 crore, marking the priciest apartment deal. Other notable transactions included two apartments in Lodha Malabar and Oberoi 360 West, sold for Rs 270 crore and Rs 225 crore respectively.

Market Insights

Anuj Puri, Chairman of Anarock Group, highlighted the growing appetite among HNIs and ultra-HNIs for these trophy residences. Despite soaring prices, driven by increased input costs and robust buyer demand, the market for ultra-luxury homes continues to thrive. This trend underscores the enduring allure of premium real estate as both a personal and investment asset.

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