Major cities witness 25 ultra-luxury home sales in Jan-Aug for ₹2,443 crore: Data

Sales of ultra-luxury homes, costing over ₹40 crore each, in major cities till August this year stood at 25 units with a cumulative value of ₹2,443 crore, according to Anarock.

Real estate consultant Anarock data showed that a total of 25 ultra-luxury homes were sold in Mumbai, Hyderabad, Gurugram and Bengaluru in the first 8 months of 2024 for a collective sales value of ₹2,443 crore.

Pune, Chennai and Kolkata did not witness any sales in this rarified price bracket. The data includes both primary (first sale) and secondary (re-sale) markets.

"The whole of 2023 saw about 61 deals with a cumulative sales value of ₹4,456 crore in Mumbai, Hyderabad and Gurugram.

"With four months remaining in 2024 and the festive quarter from October to December ongoing, we are likely to see more such large ticket-size residential deals happening before the year is through," Anarock Chairman Anuj Puri said.

Of the total of 25 ultra-luxury homes sold in 2024 so far, at least 20 were high-rise apartments worth ₹1,694 crore while the remaining five sales were of bungalows cumulatively worth about ₹748.5 crore.

Among cities, Mumbai has witnessed maximum sales of 21 units collectively worth ₹2,200 crore.

At least two ultra-luxury home deals collectively worth ₹80 crore were closed in Hyderabad's Jubilee Hills.

Gurugram in NCR witnessed the sale of an ultra-luxury home for ₹95 crore, while Bengaluru also closed one deal worth ₹67.5 crore.

Of the 25 deals closed across cities this year, as many as nine were of large ticket sizes worth over ₹100 crore each and a collective sales value of ₹1,534 crore.

The entire 2023 calendar year saw 10 such large deals for a collective sales value of ₹1,720 crore, Anarock said.

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