Luxury housing units in India, priced above Rs 1.5 crore, have witnessed a substantial 24% appreciation in their average prices since 2018, according to data from real estate consultancy Anarock. The top seven cities, with an average luxury home price of Rs 12,400 per square foot in 2018, have seen an increase to Rs 15,350 per sq ft in 2023. Hyderabad leads the surge with a remarkable 42% jump, followed by Bengaluru and Mumbai Metropolitan Region (MMR) at 27%. In contrast, affordable homes below Rs 40 lakh experienced a more modest 15% price appreciation during the same period, while mid and premium segment homes in the Rs 80 lakh to Rs 1.5 crore range saw an 18% increase. Anarock Chairman Anuj Puri notes the significant increase in luxury home prices, especially considering the relatively stagnant growth in previous years.
Luxury Home Prices Surge 24% Since 2018, Hyderabad Leads with 42% Increase
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