Daijiworld Media Network - Mumbai
Mumbai, Nov 26: India’s luxury real estate market continues its remarkable upward streak, with demand and price appreciation outshining the affordable housing sector across the country’s top seven cities. According to a recent report by property consultant ANAROCK, luxury homes priced above Rs 1.5 crore in Delhi-NCR, Mumbai MMR, Kolkata, Pune, Hyderabad, Bengaluru and Chennai have recorded a sharp 40% rise since 2022, compared to a 26% rise in the affordable segment.
ANAROCK Group Chairman Anuj Puri noted that the appetite for spacious, premium homes by reputed developers in prime locations has driven this surge. Of the 2.9 lakh units sold in the first nine months of 2025 across major cities, nearly 30% belonged to the luxury category — a striking shift amid rising construction costs and robust housing demand nationwide.
In 2022, luxury homes across the seven cities averaged Rs 14,530 per sq ft. By 2025, this figure climbed to approximately Rs 20,300 per sq ft. Delhi-NCR recorded the steepest jump, with prices soaring 72% in three years — from Rs 13,450 per sq ft to Rs 23,100 per sq ft. Mumbai’s MMR followed with a 43% increase, while Bengaluru witnessed a 42% rise.
MMR’s average luxury price touched Rs 40,200 per sq ft in 2025, up from Rs 28,044 in 2022. Bengaluru too saw a significant jump from Rs 11,760 to Rs 16,700 per sq ft in the same period.
In contrast, affordable housing — units priced below Rs 40 lakh — saw muted growth. Prices rose from Rs 4,220 per sq ft in 2022 to Rs 5,299 per sq ft in 2025. Even in this category, NCR topped the charts with a 48% increase, while Hyderabad followed with a 35% rise.
Industry analysts attribute the sustained growth of the luxury segment to India’s expanding base of high-net-worth individuals, economic resilience and the consistent value appreciation of premium real estate. Meanwhile, the affordable housing segment continues to grapple with tepid demand, resulting in slower price growth.
Mid-range and premium homes, priced between Rs 40 lakh and Rs 1.5 crore, also fared strongly, registering a 39% increase in average prices across the seven major cities.
With NCR emerging as a standout performer across luxury, mid-range and affordable categories, the region continues to reflect the robust and rapidly evolving dynamics of India’s urban real estate market.