India’s ultra-luxury home market soars: 49 homes above ₹100 crore sold for ₹7,500 crore in 3 years

India’s ultra-luxury real estate market is witnessing a boom, with 49 homes priced at ₹100 crore or more sold in Mumbai and Delhi NCR over the past three years.

These transactions have totalled ₹7,500 crore, with 2024 alone accounting for ₹3,652 crore. The trend continues into 2025, with four deals worth ₹850 crore recorded in the first two months.

Premium high-rise apartments now make up 65% of transactions in this segment as compared to independent bungalows, which dominated luxury home sales, “Luxury living is being redefined, with opulent apartments offering resort-like amenities and unmatched privacy,” said Dr. Samantak Das, Chief Economist at JLL India. Most of these properties are priced between ₹100-200 crore, though some have sold for as high as ₹500 crore.

Mumbai remains the epicentre of ultra-luxury home sales, accounting for 69% of these transactions. Malabar Hill and Worli are the city’s most sought-after locations, while in Delhi NCR, beyond the prestigious Lutyens Bungalow Zone, high-rise apartments on Gurugram’s Golf Course Road have also seen record-breaking deals.

“These exclusive properties attract India’s wealthiest individuals, including top business executives, startup founders, and film industry stalwarts,” said Siva Krishnan, Senior Managing Director, JLL India. The growing billionaire population in India is fueling demand for these elite homes, and with more developers entering the space, the trend is expected to remain strong.

With the appetite for ultra-luxury residences expanding, the real estate market is poised for continued high-value transactions, reinforcing Mumbai and Delhi NCR’s status as the country’s most exclusive housing hubs.