Business Standard-Why India’s economic boom is great news for luxury homebuyers, investors
India’s luxury housing market is having its moment in 2024, and it’s rewriting the rules of living well. From spacious and bespoke homes in Bengaluru to sleek, amenity-packed apartments in Mumbai, these properties reflect a generation unafraid to marry comfort with innovation, and wealth with purpose. The luxury segment has increasingly become a status symbol, with homes priced between Rs 10 crore and ₹80 crore leading the charge.
The statistics speak volumes too: sales of luxury homes priced at Rs 4 crore and above have skyrocketed by 37.8% year-on-year during the first nine months of 2024. This trend is particularly pronounced in major metropolitan areas like Mumbai and Delhi, which have historically dominated the luxury market. However, Bengaluru, often hailed as India's Silicon Valley, has witnessed a robust demand for luxury housing. This influx is driven by its thriving ecosystem and an influx of high-net-worth individuals (HNIs). Reports indicate that Bengaluru's luxury property prices have surged by 24% year-on-year in Q3 2024, reflecting its growing prominence in the luxury real estate landscape.
