India’s ultra-luxury housing market expands as high-value home sales surge
- IBEF
- August 11, 2026
India’s ultra-luxury housing market is witnessing strong growth, with demand for high-value homes expanding beyond traditional markets such as Mumbai. Homes priced between Rs. 20 crore (US$ 2.10 million) and Rs. 50 crore (US$ 5.24 million) recorded 371 home sales across major Indian cities in H1 2026, more than double the 181 sales recorded in H1 2025, representing a 105% YoY increase, according to Knight Frank. Mumbai accounted for 214 transactions, or 57% of the total. Meanwhile, 35 homes priced above Rs. 50 crore (US$ 5.24 million) were sold across India in H1 2026, including 23 in Mumbai and 12 in the National Capital Region (NCR). Gurugram is also emerging as a major ultra-luxury housing market, with projects such as DLF The Dahlias attracting several high-value transactions. In 2025, Gurugram recorded 1,494 transactions for homes priced at Rs. 10 crore (US$ 1.05 million) and above, valued at Rs. 24,120 crore (US$ 2.73 billion), with the transaction value nearly six times the Rs. 4,004 crore (US$ 483.57 million) recorded in 2023. Mumbai continues to dominate the premium segment, with more than 30 homes priced above Rs. 40 crore (US$ 4.20 million) sold in Worli over a 24-month period, generating over Rs. 5,500 crore (US$ 576.88 million) in transactions.
The growth in high-value sales is accompanied by increasing premium housing supply, with unsold inventory in the Rs. 20–50 crore (US$ 2.10–5.24 million) segment rising 52% YoY in H1 2026. Homes priced above Rs. 50 crore (US$ 5.24 million) had around 9.7 quarters of inventory, while the Rs. 20–50 crore (US$ 2.10–5.24 million) segment had around 14.2 quarters. At the broader market level, homes priced above Rs. 1 crore (US$ 104,887) accounted for 54% of residential sales in H1 2026, up from 49% a year earlier. The Rs. 1–2 crore (US$ 104,887–209,775) segment recorded 50,488 sales, accounting for 29% of total sales, while homes below Rs. 50 lakh (US$ 52,444) accounted for 19% of sales, with 32,063 units. The trends point to increasing premiumisation in India’s housing market, alongside a widening gap between luxury and affordable housing segments.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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