Hyderabad witnesses 44 pc rise in sale of luxury units as India’s wealthy drive record sales for uber-luxury homes

According to a recent report by real estate consultant CBRE, the luxury housing segment has experienced a remarkable 27 per cent year-on-year increase in sales during the first half of 2024.

Published Date – 10 August 2024, 06:04 PM

Hyderabad: India’s residential real estate market is witnessing an unprecedented boom, with luxury home sales reaching new heights across major metropolitan areas.

According to a recent report by real estate consultant CBRE, the luxury housing segment has experienced a remarkable 27 per cent year-on-year increase in sales during the first half of 2024.

This surge is particularly notable in cities like Hyderabad, which has seen an impressive 44 per cent annual increase, with 1,300 luxury units sold.

A report by Knight Frank emphasizes the surge in upscale residential sales in 2023 and cementing Hyderabad’s status as a luxury real estate hub. While Hyderabad shines, Gurugram is rapidly establishing itself as another epicenter of luxury real estate.

Aakash Ohri, Joint Managing Director & Chief Business Officer of DLF Home Developers Ltd, said, “the surge in demand for ultra-luxury homes in the Indian real estate industry is fueled by a rise in wealth creation and economic resilience among affluent segments. This shift is driven by a newfound appreciation for real estate as both an appreciating asset and a source of tangible and intrinsic value.”

DLF has capitalized on this trend with exceptional Q1 FY2025 results, reporting net sales bookings of Rs.6,404 crore, marking a phenomenal 214% year-on-year growth.

Shashank Vashishtha, Executive Director of Exp Realty India, said, ” This year, we’ve seen a notable increase in demand for these properties, particularly in Hyderabad, where buyers are attracted to the high quality and exclusivity of these homes.”

DLF is planning to launch a unique super luxury integrated villas community in Goa, with units priced at Rs.50 crore and above, along with an uber-luxury project in Gurugram that promises to surpass even the lofty standards set by The Camellias.

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