Page 2 - Luxury Homes

Luxury housing sales in India jumped 75% in 2023, threefold in Delhi: CBRE

The share of luxury homes, priced at or above Rs 4 crore, in total sales, also doubled in 2023

Address to amenities: What to look for when you buy a luxury apartment?

The 'bigger is better' and the address must me famous, say real estate industry executives

Raymond Q3 results: PAT jumps to Rs 185 cr on branded apparel, realty boost

It had logged a net profit of Rs 96.60 crore in October-December FY23, according to a regulatory filing by the company

DLF sales bookings jump 2-fold to Rs 13,316 cr in Apr-Dec on high demand

Realty major DLF Ltd's sales bookings jumped two times annually to Rs 13,316 crore during the first nine months of this fiscal, mainly on high demand for its luxury housing properties in Gurugram. During the April-December period of the previous fiscal, the company's sales bookings stood at Rs 6,599 crore. In the 2022-23 fiscal, DLF's sales bookings stood at a little over Rs 15,000 crore, and it is likely to clock higher numbers in the current fiscal. On Wednesday, the company reported a more than three-time increase in its sales booking to Rs 9,047 crore in the December quarter as against Rs 2,507 crore in the year-ago period. This is the highest quarterly sales booking achieved by the company. The record sales bookings in the third quarter were mainly driven by sales of 1,113 luxury apartments in Gurugram for Rs 7,200 crore within three days of the pre-launch last month. In the third quarter of 2023-24, DLF launched three new projects --two in Gurugram and one in ...

Realty reality: Will luxury housing in India lose its sheen in 2024?

Luxury housing in India witnessed a record-breaking year in 2023 as the sales of such homes touched an all-time high. Now, is the demand for these costlier homes likely to continue in 2024 as well?

Capital appreciation key to buy luxury realty for 44% of rich people: ISIR

Capital appreciation will be the key motivation for 44 per cent of wealthy people to buy luxury properties over the next 24 months, according to India Sotheby's International Realty (ISIR) survey released on Thursday. Real estate consultant ISIR released its annual 'Luxury Outlook Survey 2024' with a sample size of over 500 High Net Worth Individuals (HNIs) and Ultra High Net Worth Individuals (UHNIs). "Despite an almost 40 per cent rise in property prices over the last 24 months and increase in mortgage rates, 71 per cent of respondents expressed an intent to buy real estate in the next 12-24 months, showcasing significant confidence in the market," ISIR said. Capital appreciation has overtaken lifestyle upgrades, as the primary motivation for real estate investment (44 per cent), the consultant said, adding that this signals a return of investors to the market. "Our survey findings indicate a renewed and heightened interest among investors who now view real estate as a compelling

Sales of homes up to Rs 50 lakh dip 16% last year; total sales 10-yr high

Sales of homes costing up to Rs 50 lakh fell 16 per cent last year to nearly 98,000 units across eight major cities due to a rise in property prices and high mortgage rate, according to Knight Frank India. Nevertheless, overall housing sales, comprising all price points, rose 5 per cent annually to 3,29,907 units during 2023 across the top eight cities -- Delhi-NCR, Mumbai Metropolitan Region (MMR), Chennai, Kolkata, Bengaluru, Pune, Hyderabad and Ahmedabad. New supply in homes costing up to Rs 50 lakh dropped 20 per cent in 2023 year-on-year. This also resulted in fall in sales of affordable homes. The overall sales reached a 10-year high, driven by higher demand in the mid-income and luxury home segments. Real estate consultant Knight Frank India on Wednesday released its report through a webinar, showing that sales of residential properties priced Rs 50 lakh and below fell to 97,983 units last year from 1,17,131 units in 2022. As a result, the share of affordable homes in total

Gurugram sees up to 45% price rise for premium homes in last one yr: Report

Prices of premium homes -- under construction and ready -- have increased up to 45 per cent in Gurugram in the last one year, according to Savills India. Real estate consultant Savills on Saturday released a report showing that prices of completed housing units have risen by 28-45 per cent in Gurugram during the last one year. Rates of under construction homes were up 12-45 per cent. In Noida, the prices rose by 27-36 per cent for completed units and 23-47 per cent for under construction residential properties. In Gurugram, the Savills report showed that New Gurugram and Dwarka Expressway were the top performing micromarkets with an annual growth of 45 per cent and 21 per cent, respectively in average capital values of under construction properties. Golf Course Road and Golf Course Extension Road & Souther Peripheral Road registered the highest average capital value appreciation for ready-to-move properties with a year-on-year increase of 45 per cent and 39 per cent, ...

India saw sale of luxury homes double in first 9 months this year: CBRE

CBRE said that the home sales in the festive season this year are expected to be the highest in three years

Luxury home sales costing above Rs 1.5 cr in Delhi-NCR jump 2-fold: Anarock

Delhi-NCR has witnessed over two-fold jump in sales of luxury homes priced above Rs 1.5 crore to 13,630 units in January-September this year on better demand and supply, according to Anarock. Real estate consultant Anarock's data showed that 6,210 luxury homes were sold during January-September last year. The trend was more or less similar across seven major cities tracked by Anarock. Sales of luxury residential properties jumped more than two times to 84,400 units across seven major cities during January-September this year from 39,300 units in the corresponding period of the last year. Anarock Chairman Anuj Puri said the luxury housing segment has been growing rapidly on demand surge after the COVID pandemic. The supply in this segment too has improved. Post-COVID, the concept of home ownership has strengthened. People are also upgrading to better and bigger homes. As per the Anarock data, Hyderabad saw over three-fold surge in sales of luxury homes to 13,630 units during ...

Amid lower demand, new supply of affordable homes dipping in India: Anarock

On the other hand, the supply of luxury homes is rising as developers are focusing on earning higher margins and profits

Demand for luxury homes overtakes affordable ones for first time in India

The number of homes sold in India in July-September quarter this year touched a six-year-high: Knight Frank

Luxury homes see highest average price appreciation since 2018: Anarock

Hyderabad recorded the highest jump of 42 per cent in the average price of luxury homes between 2018 and the first six months of 2023

Sales of luxury homes in India rose 130% in January-June period: CBRE

The surge in demand was primarily driven by a growing preference for enhanced amenities and more spacious living areas

Sales of luxury homes priced above Rs 10 cr in Mumbai up 49%: Report

Sales of residential properties, priced above Rs 10 crore, in Mumbai's primary and resale market rose 49 per cent in value terms to Rs 11,400 crore during the January-June period on strong demand, according to India Sotheby's International Realty and CRE Matrix report. During the year-ago period, the sales of luxury homes in Mumbai stood at Rs 7,660 crore. Real estate consultant India Sotheby's International Realty, and data analytic firm CRE Matrix on Monday released a report on Mumbai luxury housing market for H1 CY'23. The report noted that the demand for luxury apartments in the financial capital was mainly driven by industrialists, Bollywood celebrities and high-salaried employees. As per the data, sales of luxury housing in the primary (fresh launch) market surged by 83 per cent to Rs 8,817 crore during January-June period, as compared to Rs 4,816 crore in the same period of the previous year. However, the sales in the secondary (re-sale) market were down 9 per cent to Rs 2,

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Unsold inventory of homes priced above Rs 2.5 cr down, says Anarock

The number of unsold luxury homes fell the sharpest, 24%, in the Mumbai Metropolitan region

K Raheja Corp sells luxury homes worth Rs 1,100 cr in single project

Realty firm K Raheja Corp on Friday said its housing arm has sold properties worth Rs 1,100 crore in its luxury residential project at South Mumbai during the March quarter. K Raheja Corp Homes, the residential business of K Raheja Corp group, delivered a record breaking, pre-formal launch sales revenue of Rs 1,100 crore, through its single project Raheja Modern Vivarea in under 90 days, in the fourth quarter of last fiscal, the company said in a statement. Raheja Modern Vivarea, located in Mahalaxmi micro-market, was launched in the last quarter of FY23. The project, having 10 lakh square feet of total saleable area, will house only 2 towers. The demand for luxury residential properties have surged during the last two years.

Luxury housing sales in Indian cities surge 151% in Q1 2023: Report

Delhi-NCR, Mumbai, Hyderabad, Pune and Kolkata lead in such property transactions

Luxury segment housing sales up by 151%, Delhi-NCR leads with 216% growth

The post-pandemic rise in ownership of luxury housing is believed to be a result of a changed mindset of the homebuyers