2024 has proven to be a groundbreaking year for India’s luxury real estate market. From stellar deals in Gurugram to blockbuster sales in Mumbai, the super-luxury living trend is reshaping the real estate landscape. Gurugram, in particular, has emerged as a fierce competitor to Mumbai and Dubai in the luxury real estate category, setting new benchmarks and redefining urban opulence.
As of December 2024, Gurugram’s DLF Camellias project is at the forefront of India’s real estate headlines, with record-breaking property deals positioning the city ahead of both Mumbai and Dubai in the ultra-luxury segment. “The most notable transaction was the purchase of a 16,290-square-foot penthouse at DLF Camellias by a top executive in the tech industry for a staggering ₹190 crore. This equates to an astonishing ₹1,80,000 per square foot, firmly establishing Camellias as India’s most expensive high-rise condominium,” informs Pradeep Mishra, CMD, ORAM Developments.
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Posh Areas in Mumbai
Mumbai continues to dominate the luxury market in terms of deal numbers, thanks to its prime locations and consistent supply. Below is a detailed breakdown of property prices in Mumbai’s elite neighborhoods, according to ORAM Developments:
Juhu: Average Property Price – ₹55,000 to ₹60,000 per sq. ft.
Malabar Hill: Average Property Price – ₹50,000 to ₹55,000 per sq. ft.
Cuffe Parade: Average Property Price – ₹45,000 to ₹50,000 per sq. ft.
Bandra Bandstand: Average Property Price – ₹40,000 to ₹45,000 per sq. ft.
Tardeo: Average Property Price – ₹45,000 to ₹50,000 per sq. ft.
Pali Hill, Bandra: Average Property Price – ₹35,000 to ₹38,000 per sq. ft.
Worli Sea Face: Average Property Price – ₹36,000 to ₹39,000 per sq. ft.
Breach Candy: Average Property Price – ₹23,000 to ₹25,000 per sq. ft.
Seven Bungalows, Versova: Average Property Price – ₹30,000 to ₹32,000 per sq. ft.
Hiranandani, Powai: Average Property Price – ₹74,000 to ₹76,000 per sq. ft.
Altamount Road: Average Property Price – ₹57,000 to ₹59,000 per sq. ft.
JVPD Scheme: Average Property Price – ₹38,000 to ₹40,000 per sq. ft.
Luxury Real Estate Prices in Dubai
Dubai’s property market is renowned for its architectural marvels and global appeal.
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