Hindustan Times - Real estate 2024: Did Delhi-NCR overtake Mumbai in the ultra-luxury residential segment?
An almost ₹190 crore ultra-luxury apartment deal in Gurugram, a ₹130 crore bungalow transaction in New Delhi’s posh Kautilya Marg, and two flats sold in Mumbai for ₹198 crore only seem to suggest one thing—that the super luxury segment attracted the attention of high-net-worth Indians in 2024 and that the Delhi-NCR market may be fast catching up with Mumbai, where ₹100 crore deals are the norm.
The appetite for ultra-luxury real estate was so strong that the observations made in the recent report titled HSBC’s Global Entrepreneurial Wealth Report 2024 did not come as a surprise. The report that provides an insight into the attitudes of wealthy business owners around the world, including the investing habits of India’s High Net Worth and Ultra High Net Worth business owners, pointed out that almost six out of ten (61%) Indian wealthy business owners allocate personal wealth to real estate for their own use compared to one in two globally (51%).
