In a testament to India’s burgeoning luxury real estate market, there has been an unprecedented surge in ultra-luxury residential sales. Over the past three years, a staggering 49 ultra luxury homes, each commanding a price tag of Rs 100 crore or more, have changed hands in the country’s premier metropolitan hubs of Mumbai and Delhi-NCR, according to JLL.
This elite segment of homebuyers has collectively invested Rs 7,500 crore in these opulent dwellings, with half of these transactions—totalling Rs 3,652 crore—occurring in 2024 alone. The momentum shows no signs of slowing, as the first two months of 2025 have already witnessed four ultra-luxury home sales, amassing a combined value of Rs 850 crore.
“Unlike past perceptions, independent houses such as bungalows and villas are no longer the only assets synonymous with a trophy residential abode. With magnificent apartments boasting of exclusive resort like amenities and privacy, sky is the limit when it comes to redefining luxury living. Such high-rise apartments offer an exclusive residential experience in this niche segment,” said Dr. Samantak Das, Chief Economist and Head of Research and REIS, India, JLL.
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“As per our analysis, apartments costing Rs 100 crore and above comprised 65% share of the total number of deals closed in the past three years; bungalows constituted the remaining 35% share. Majority of these ultra luxury homes were priced in the range of Rs 100 – 200 crore. However, a handful of properties were transacted above this price bracket and were priced between Rs 200 crore and Rs 500 crore too,” added Dr. Das.
“While appetite for premium residential properties continues to expand in many Indian cities, Mumbai and Delhi-NCR rule the roost when it comes to the homebuyer profile suitable for these exclusive assets. Homebuyers in the Rs 100 crore and above bracket comprise C-suite of large business conglomerates, actors and founders of new startups. Of these 49 homes sold during the last 3 years, Mumbai comprised 69% share followed by Delhi-NCR. In Mumbai, Malabar Hill and Worli dominated the bulk of these transactions. In Delhi-NCR, such deals were not limited to the Lutyens Bungalow Zone (LBZ) alone. Several high-rise apartment deals on Golf Course Road in Gurugram were also recorded,” said Siva Krishnan,
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