Despite a sharp surge in property prices the demand for luxury housing remained strong in 2024. The segment resisted economic slowdown, as the HNIs and UHNIs did not shy away from buying big-ticket luxury properties. This growing affinity of India’s middle and upper-class buyers towards luxury projects puts forward a bigger picture. This premiumization trend reflects a deeper desire for homes that embody status, comfort, and an elevated lifestyle.

As reflected in Knight Frank’s data, the sales of apartments priced between Rs 2 crore and Rs 5 crore have skyrocketed by 400% from 2019 to 2024, with an 82% increase in 2024 alone. Properties in the Rs 1–10 crore bracket have shown the most notable growth, registering a 46% year-on-year increase and a staggering 500% rise since 2019. Meanwhile, the ultra-luxury segment—homes priced above Rs 20 crore—has also seen impressive traction, with sales surging 270% over the same period. This surge is particularly evident in key metropolitan markets such as Mumbai, Delhi-NCR, Bengaluru, Pune, and Hyderabad. Read more