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Business Standard

Delhi-NCR luxury home sales soar 209% in H1 2025, all flats above ₹6 cr

If you've been watching the real estate space for signals on where India's wealth is heading, here's a telling one: Delhi-NCR recorded a 209.4% spike in luxury home sales in the last one year—3,960 homes priced at ₹6 crore and above were sold in just the first half of 2025, up over three times from 1,280 units last year, according to a new CBRE-Assocham report. What's driving this luxury housing surge? Here are the key factors at play: Rising disposable income: Aided by accommodative monetary policy and rising incomes in the salaried and entrepreneurial class. Desire for larger, well-located homes: Post-pandemic lifestyle upgrades are here to stay—homebuyers now prioritise space, amenities, and prime locations. Developer confidence and quality: Developers are focusing more on transparency, experience, and high-end finishes—boosting buyer trust. Stable interest rates: RBI's pause on rate hikes has made home loans relatively more attractive, even in the luxury segment. 'The standout growth of luxury and premium housing indicates rising consumer confidence and lifestyle aspirations,' said Gaurav Kumar, MD - Capital Markets and Land at CBRE India. Where are the big jumps happening? Delhi-NCR: 3,960 units sold in Jan–June 2025 vs 1,280 a year ago Mumbai: 1,240 units sold vs 950 Bengaluru: 200 units sold vs 80 Chennai & Kolkata: Both saw more than 2.5x growth Hyderabad & Pune: Bucked the trend with slight drops "The housing boom, coupled with policy evolution, highlights the need for reforms that ease approvals, redefine affordable housing in urban India, and incentivise sustainable development," Manish Singhal, Secretary General, ASSOCHAM, said. Total sales in the top seven cities rose to 6,950 units in January-June 2025 from 3,750 units in the corresponding period of the preceding year. Commenting on the data, Jash Panchamia, Executive Director at Jaypee Infratech Ltd, said, "The sharp surge in demand for premium residential properties during the first half stands as a clear testament to the fact that the appetite of homebuyers continues to remain robust and resilient across the leading real estate micro-markets in the country." The various reform measures announced in the Union Budget and the RBI's accommodative monetary policy stance have played a pivotal role in enhancing the overall disposable income levels of the average household, he added.