Luxury housing prices in India are on the rise
Prices for luxury housing in India continue to rise. According to a study by CREDAI-MCHI, the average price increased significantly in the first half of FY2025 alone.
According to experts, the total sales value increased by 18% to Rs 279,309 crore. The number of sales also declined marginally by 3%. Despite this, the average cost of a house has risen to Rs 1.23 crore. This trend speaks volumes about buyers’ growing interest in premium homes.
Keval Walambia of CREDAI-MCHI points out that the demand for luxury properties speaks volumes about the market’s stability. India has coped well with the challenges of the past few years and has shown a high level of adaptability to change.
It is also important to note the new preferences of local buyers. They want maximum comfort and investment appeal from their homes.
Overview of housing prices in India trends by city
Real estate agency CREDAI-MCHI has analysed the market in seven major cities in India. The trends indicate an increase in demand in the premium sector.
The National Capital Region (NCR) was the leader in price growth:
– the average purchase price here rose by 56% to Rs 1.45 crore;
– sales volume grew by 55% to Rs 46,611 crore.
The Mumbai region (MMR) showed the following results:
– the average cheque size remained unchanged at around Rs 1.47 crore;
– sales volume increased by 2% to Rs 114,529 crore.
Bangalore has witnessed an increase in property values:
– the average value of luxury homes increased by 44% to Rs 1.2 crore;
– sales volume increased by 44% to Rs 37,863 crore.
Hyderabad also saw an increase in residential property values. Here, the average price rose by 37% and sales volume by 28%. In Chennai, the average cheque size increased by 31% and sales volume by 20%. A good performance was in Pune. The average cheque size increased by 29% and transaction volume by 19%. Kolkata saw moderate growth, with the average cheque size rising by 16% to Rs 61 lakh.
Across all the cities surveyed, buyers prefer large, well-appointed homes. They like to buy properties in upscale areas. Bangalore and NCR emerged as the most attractive markets.
Local incomes are rising, which will boost the luxury housing sector. Developers are ready for the hype and have already focused on building premium properties. They are paying particular attention to introducing innovation and implementing a sustainable approach. This will enable them to offer world-class facilities to buyers and maintain high demand.