A sharp rise in demand for high-end homes priced at ₹4 crore and above is driving the Indian luxury real estate market to a huge boom in 2024. Rich buyers are prioritising better living situations, which is causing big towns to grow a lot. Ghar checks numbers and trends defining India luxury realty.

The Mumbai Metropolitan Region (MMR) has seen real estate prices jump 48% in five years. MMR has become one of India's hottest real estate markets due to reduced unsold inventory and rising demand. A detailed look at what caused this massive surge.

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.

The Indian housing market hit a new milestone in FY24, with sales reaching an all-time high over the past decade. A remarkable 5 lakh units were sold, marking a significant leap in the demand for homes.

According to the Prime Global Cities Index, Mumbai, Delhi, and Bangalore have higher housing prices. Buyers are increasingly choosing property investments to better their lives.

Bengaluru, Delhi NCR, and Kolkata have witnessed house costs rise 20% in the previous two years. These locations saw a 30% price spike from 2021 to 2023 due to strong demand for mid- and luxury homes, according to Colliers.

Ayodhya's real estate market is booming as the Ram Mandir's grand opening draws the elite of Indian politics and commerce. The city's property and land values have quadrupled, rivalling Uttar Pradesh's major cities. Local and national investors are drawn to this upturn.

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.

There are several indications that the price of real estate in Navi Mumbai may surge during the next five to ten years. Enhanced connection is one of the primary factors.