During January-October 2024, record deals were seen in the real estate segment of Mumbai, Gurugram and Bengaluru. According to a newspaper report, 13 houses worth more than Rs 100 crore were sold during this period. There were 21 such transactions during the same period in 2023. Ritesh Mehta, senior director and head of Indian Residential Services at JLL, said, “Last year there was a surge in properties priced above Rs 100 crore (especially in Mumbai, Delhi-NCR and Bengaluru).
Some of these properties are located in premium locations of the country such as Malabar Hill or Pali Hill in Mumbai or Golf Court Road in Gurgaon. Property consultant Anarock Group has revealed that 99 ultra-luxury property deals were struck in India’s top cities over the last three years (2022, 2023 and 2024, till August), with a total value of Rs 8,069 crore.
Overall, India’s real estate market is expected to grow by 16% in 2024. Recently, the biggest deal of 2024 took place in the DLF project based in Gurugram, under which a penthouse was sold for Rs 190 crore.