Mumbai, Gurgaon, Bengaluru post record surge in Rs 100-cr-plus real estate deals: Report

Mumbai, Gurugram, and Bengaluru have set new records in the luxury real estate market, with 13 properties valued over Rs 100 crore each being purchased between January and October 2024. This marked a significant surge compared to 2023, which saw 21 such transactions throughout the year, according to a Mint report.

Ritesh Mehta, Senior Director at JLL, stated that these deals primarily took place in Mumbai, Delhi-NCR, and Bengaluru, with properties located in prime locations like Mumbai's Malabar Hill, Pali Hill, and Gurugram's Golf Course Road. The demand for high-end residences in these cities continues to soar, driven by an increasing number of ultra-wealthy buyers.

Anarock Group, a leading property consultancy, revealed that in the past three years (2022-2024), India’s top cities closed 99 ultra-luxury deals worth Rs 8,069 crore combined. This reflects the growing trend of high-net-worth individuals (HNIs) and ultra-high-net-worth individuals (UHNWIs) investing in India's real estate, driven by the appeal of luxurious amenities, prime locations, and a safe investment avenue.

As India’s top cities witness continued demand for luxury properties, experts predict that the momentum in the ultra-luxury segment will likely continue into 2025, with more landmark transactions expected across major metropolitan areas.