Property Market: Luxury houses worth crores are being sold the most in this city of India.

The real estate sector in India is going through a major change. People are surprised by this change, because on one hand the sales of cheap houses are decreasing, while on the other hand the demand for expensive houses remains strong. The demand for luxury apartments is very high in major cities, especially in Delhi-NCR.

Demand for expensive houses in Delhi-NCR

According to a report by Cushman & Wakefield, Delhi-NCR is ahead of other markets of the country in terms of demand for luxury apartments. Luxury apartments alone accounted for 61 percent of the new launches in Delhi-NCR during the March quarter. This shows that the demand for luxury homes is strong in the Delhi-NCR market. Whereas in Mumbai and Bengaluru, the share of luxury apartments in the total launches was 26 percent and 19 percent respectively.

These expensive houses are considered luxury

In the report of Cushman & Wakefield, those houses It has been kept in the luxury category, whose price is at least Rs 15 thousand per square foot. The report says that the sale of luxury apartments has increased in eight major cities of the country, but it is highest in Delhi-NCR. Luxury apartments are being launched and all the units are being sold within no time.

The trend has changed after Covid

The report says that this trend has happened since the Corona epidemic. It is visible that more customers are coming to the luxury segment. This is visible in almost all cities. In the year 2019, the sale of luxury apartments in Ahmedabad was only 6 percent, which has increased to 38 percent in 2024. Similarly, in the last 5 years, the sale of luxury homes has increased from 11 percent to 19 percent in Bengaluru, from 9 percent to 28 percent in Chennai and from 42 percent to 53 percent in Hyderabad.

This report This also came to light in

Earlier, housing brokerage firm PropTiger had also said similar things in a report last week. According to PropTiger, while the demand for luxury homes increased in the March quarter, the demand for affordable homes decreased. According to the report, sales of houses in the category of Rs 45 lakh to Rs 75 lakh remained flat at 26 percent in the March quarter. The share of houses priced between Rs 75 lakh to Rs 1 crore increased from 12 percent to 15 percent during this period. In the case of houses priced above Rs 1 crore, the share in total sales increased from 24 percent a year ago to 37 percent. The share of affordable houses in total sales came down to 22 percent. The share of houses below Rs 25 lakh in total sales was 5 percent. Similarly, the share of houses priced between Rs 25 lakh to Rs 45 lakh came down to 17 percent.

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