25 ultra-luxury homes valued over Rs 100 crore each sold in 2024

With the number of ultra-high net worth individuals rising, the momentum shows no signs of slowing, with the first two months of 2025 already witnessing four ultra-luxury home sales, totalling a combined value of Rs 850 crore.

India’s luxury real estate market is experiencing an unprecedented boom, with ultra-luxury residential sales reaching record levels in 2024 with 25 ultra-luxury homes — that cost over Rs 100-200 crore each — valued at a staggering Rs 3,652 crore changing hands last year, surpassing previous records, according to a report.

With the number of ultra-high net worth individuals rising, the momentum shows no signs of slowing, with the first two months of 2025 already witnessing four ultra-luxury home sales, totalling a combined value of Rs 850 crore. This remarkable growth is a significant increase from the previous years, with 14 ultra-luxury homes valued at Rs 2,259 crore sold in 2023, and 10 homes valued at Rs 1,583 crore in 2022, says a JLL India report.

Over the past three years, a staggering 49 ultra-luxury homes, each priced at Rs 100 crore or more, have been sold in the country’s premier metropolitan hubs of Mumbai and Delhi NCR. “This surge in ultra-luxury home sales is a testament to India’s growing luxury real estate market, driven by increasing demand from high-net-worth individuals and affluent buyers,” JLL said.

This elite segment of homebuyers has collectively invested Rs 7,500 crore in these opulent dwellings. As much as Rs 7,500 crore invested in ultra-luxury homes, with half (Rs 3,652 crore) in 2024 alone. Out of 49 homes sold above Rs 100 crore, Mumbai comprised 69 per cent share. Apartments now dominate ultra-luxury segment (65 per cent of deals) over bungalows (35 per cent). Majority of transactions priced between Rs 100-200 crore, JLL India said.

“Unlike past perceptions, independent houses such as bungalows and villas are no longer the only assets synonymous with a trophy residential abode. With magnificent apartments boasting of exclusive resort like amenities and privacy, sky is the limit when it comes to redefining luxury living.,” it said.

Such high-rise apartments offer an exclusive residential experience in this niche segment. “As per our analysis, apartments costing Rs 100 crore and above comprised 65 per cent share of the total number of deals closed in the past three years and bungalows constituted the remaining 35 per cent share,” it said.

“However, a handful of properties were transacted above this price bracket and were priced between Rs 200-500 crore too” said Samantak Das, Chief Economist and Head of Research and REIS, India, JLL. Of all the apartments sold in the Rs 100 crore and above price bracket in the past 3 years, majority were in the size range of 10,000 – 16,000 sq. ft (super built-up area).

As per various market estimates, the number of billionaires in India has grown significantly in 2024 as compared to 2023. Of late, India’s growing number of wealthy individuals are actively picking up these properties. Going forward, the demand for these limited number of units is likely to remain steady as more realty players are getting into developing such prestigious homes, JLL said.

India’s luxury real estate market is experiencing an unprecedented boom, with ultra-luxury residential sales reaching record levels in 2024 with 25 ultra-luxury homes — that cost over Rs 100-200 crore each — valued at a staggering Rs 3,652 crore changing hands last year, surpassing previous records, according to a report.

With the number of ultra-high net worth individuals rising, the momentum shows no signs of slowing, with the first two months of 2025 already witnessing four ultra-luxury home sales, totalling a combined value of Rs 850 crore. This remarkable growth is a significant increase from the previous years, with 14 ultra-luxury homes valued at Rs 2,259 crore sold in 2023, and 10 homes valued at Rs 1,583 crore in 2022, says a JLL India report.

Over the past three years, a staggering 49 ultra-luxury homes, each priced at Rs 100 crore or more, have been sold in the country’s premier metropolitan hubs of Mumbai and Delhi NCR. “This surge in ultra-luxury home sales is a testament to India’s growing luxury real estate market, driven by increasing demand from high-net-worth individuals and affluent buyers,” JLL said.

This elite segment of homebuyers has collectively invested Rs 7,500 crore in these opulent dwellings. As much as Rs 7,500 crore invested in ultra-luxury homes, with half (Rs 3,652 crore) in 2024 alone. Out of 49 homes sold above Rs 100 crore, Mumbai comprised 69 per cent share. Apartments now dominate ultra-luxury segment (65 per cent of deals) over bungalows (35 per cent). Majority of transactions priced between Rs 100-200 crore, JLL India said.

“Unlike past perceptions, independent houses such as bungalows and villas are no longer the only assets synonymous with a trophy residential abode. With magnificent apartments boasting of exclusive resort like amenities and privacy, sky is the limit when it comes to redefining luxury living.,” it said.

Such high-rise apartments offer an exclusive residential experience in this niche segment. “As per our analysis, apartments costing Rs 100 crore and above comprised 65 per cent share of the total number of deals closed in the past three years and bungalows constituted the remaining 35 per cent share,” it said.

“However, a handful of properties were transacted above this price bracket and were priced between Rs 200-500 crore too” said Samantak Das, Chief Economist and Head of Research and REIS, India, JLL. Of all the apartments sold in the Rs 100 crore and above price bracket in the past 3 years, majority were in the size range of 10,000 – 16,000 sq. ft (super built-up area).

As per various market estimates, the number of billionaires in India has grown significantly in 2024 as compared to 2023. Of late, India’s growing number of wealthy individuals are actively picking up these properties. Going forward, the demand for these limited number of units is likely to remain steady as more realty players are getting into developing such prestigious homes, JLL said.