Delhi One revived: Max Estates takes over stalled NCR project, eyes major real estate milestone with ultra-luxury development.

The luxury housing market in Mumbai and six other major Indian cities witnessed significant growth between April and September 2024, with total sales reaching ₹2,78,309 crore. This marked an 18% increase compared to the same period last year, with average prices for luxury homes surpassing ₹1.23 Cr.

With NCR’s pollution levels soaring, interest in second homes in hill stations like Dehradun, Kasauli, Rishikesh, Nainital, and Shimla has skyrocketed. Queries for these scenic getaways have more than doubled, as middle-class buyers from NCR seek budget-friendly escapes within driving distance.

In the next two years, House of Hiranandani, led by Surendra Hiranandani, would invest approximately ₹12,500 crore to increase its development footprint by 10 million square feet in the Mumbai Metropolitan Region (MMR). This strategic expansion will include acquisitions and greenfield ventures.

The GST Council's GoM proposes increasing the affordable home price barrier from ₹45 lakh to ₹55 lakh. If authorised, this might help budget homebuyers by matching GST incentives with growing property prices and increasing housing accessibility throughout India.

October 2024 saw record property registrations in Mumbai owing to a good purchasing season. Mumbai's property registration revenue is estimated at ₹1,081 crore as of October 29, 2024, as reported by Maharashtra's IGR. An increase of 52% from the ₹712 crore recorded on Diwali in November 2023.

Mumbai, India's biggest and most expensive real estate market, is breaking records in 2024. In the first nine months, property registrations increased by 12%, surpassing 105,000 deals, while stamp duty revenues increased by 6%, reaching over ₹8,892 crore.

NRI (Non-Resident Indian) investments in Indian real estate are witnessing unprecedented growth, driven by economic, emotional, and regulatory factors. Ghar shares a mini-guide as to why NRIs are increasingly investing in Indian properties and how you can leverage this massive market opportunity.

Signature Global granted 1,144 crore construction contract to Ahluwalia Contracts for the building of its premium home project, De-luxe DXP, in Sector 37D of Gurugram next to the Dwarka Motorway. This ambitious project aspires to redefine luxury living in one of Delhi NCR's fastest-growing districts

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.

Godrej Properties Ltd. (GPL) won an e-auction held by the Haryana Shehri Vikas Pradhikaran (HSVP) and successfully acquired two prime luxury group housing plots in Gurugram with a winning offer of ₹515 crore.

Indian real estate developers have focused more on hotels due to the rising travel industry. Post-pandemic domestic travel is increasing demand for premium hotel infrastructure, especially in tier-2 and tier-3 cities.

Many middle-class Indians are losing their goal of home ownership as property prices rise, making affordable homes scarce. With the average property costing ₹1.2 crore to ₹1.4 crore, homeownership is becoming increasingly difficult to achieve.

The opening of Manohar International Airport in Mopa has made North Goa a top location for luxury property investments. High-end developments have increased due to this planned development, boosting the region's popularity. Ghar highlights 7 ways the new airport is boosting Mopa real estate.

Savills India reports that luxury residential under-construction properties in Delhi, Noida, Gurugram, Bengaluru, and Mumbai rose up to 53% in the first half of 2024. Gurugram grew the most. These are the top five causes of this increase.