Explore India's booming luxury property market with record ₹100 crore+ deals in Mumbai and Delhi. Discover who's buying these ultra-premium homes, the emerging trends, and what's driving the unprecedented growth in India's elite real estate sector.

India’s commercial real estate sector witnessed remarkable momentum in 2024, driven by record-breaking corporate leasing and high-value office space deals. From bustling metros to emerging business hubs, these transactions reflect the growing demand for premium workspaces.

Morningstar, a leading American financial firm, has leased 300,000 sq ft at Vishwaroop IT Park, Vashi, for ₹38 crore annually with a 5% yearly hike. The 10-year deal, totaling ₹450 crore, highlights Navi Mumbai's rise as a commercial and IT hub, driven by its strong infrastructure and connectivity.

In 2024, Mumbai sold 21 of 25 ultra-luxury properties in India's top 25 cities. HNIs and ultra-HNIs drove demand for mansions exceeding Rs 40 crore, worth Rs 2,443 crore. Mumbai, Hyderabad, Gurugram, and Bengaluru became luxury property hotspots as transactions increased.

Aryan Khan, son of Shahrukh Khan, bought two floors in Panchsheel Park, South Delhi, for ₹37 crore, expanding the family's property holdings. Professionals say the Khan family owns the basement and ground floor, which is significant as it was the couple's first home.

Mumbai: Starting October 1, 2024, a 1% TDS will be applied on the purchase price or stamp duty value (whichever is higher) of immovable property worth over INR 50 lakhs, even with multiple purchasers or sellers, per Budget 2024.

Shahid Kapoor and Mira Kapoor bought a luxurious sea-view flat in Oberoi 360 West in Mumbai's posh Worli neighbourhood. The luxury house cost over ₹60.41 crore, including stamp duty incurred.

Wellknown Polyesters Chairman Anil Gupta bought two luxury properties in South Mumbai's Malabar Hill region, influencing the luxury real estate market. The home sale, worth over INR 270 crore, established a new Indian residential property sales record at INR 1.41 lakh per square foot.

Despite a rise in interest rates and property prices, stamp duty collection in February for the country's biggest and most costly real estate market, Mumbai, reached a record high. The record collection was driven by premium and middle-income housing categories.

India's luxury real estate sector had a surge of high-priced transactions in 2022. Many of these luxury real estate transactions included the reinvestment of capital gains in order to avoid paying the Capital Gains Tax.