Luxury home sales costing above ₹1.5 crore in Delhi-NCR jump over 2-fold to 13,630 units in Jan-Sep: Anarock

October 29, 2023

Delhi-NCR has witnessed over two-fold jump in sales of luxury homes priced above ₹1.5 crore to 13,630 units in January-September this year on better demand and supply, according to Anarock.

Real estate consultant Anarock’s data showed that 6,210 luxury homes were sold during January-September last year.

The trend was more or less similar across seven major cities tracked by Anarock.

Sales of luxury residential properties jumped more than two times to 84,400 units across seven major cities during January-September this year from 39,300 units in the corresponding period of the last year.

Anarock Chairman Anuj Puri said the luxury housing segment has been growing rapidly on demand surge after the Covid pandemic. The supply in this segment too has improved.

Post-Covid, the concept of home ownership has strengthened. People are also upgrading to better and bigger homes.

As per the Anarock data, Hyderabad saw over three-fold surge in sales of luxury homes to 13,630 units during January-September this year from 3,790 units in the year-ago period.

During the period under review, sales of luxury homes in Bengaluru rose sharply to 9,220 units from 3,810 units.

In the Mumbai Metropolitan Region (MMR), sales of luxury housing increased by 74 per cent to 36,130 units from 20,820 units.

Pune saw a nearly three-fold rise in luxury housing sales to 6,850 units from 2,350 units.

Luxury housing sales in Chennai also increased to 3,330 units from 1,370 units.

Sales of luxury housing in Kolkata rose 69 per cent to 1,610 units during January-September this year from 950 units in the same period last year.

Including all price brackets, Anarock data showed that a total of 3.49 lakh units were sold in these seven cities in the first nine months of this year. Out of that, the share of luxury homes was 24 per cent.

In the same period last year, the share of sale of luxury homes in the total sales was 14 per cent.

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