Luxury Housing Sales Record 28% YoY Growth Across Top 7 Cities In January-March 2025

New Delhi, April 14, 2025: India’s luxury housing segment (units priced at INR 4 crore and above) recorded 28 per cent year-on-year sales growth in January-March 2025 across India’s top seven cities with sales of approximately 1,930 luxury units during the quarter, says real estate consulting firm CBRE South Asia Pvt. Ltd in its report, ‘India Market Monitor Q1 2025- Residential’.

Among the top seven cities, Delhi-NCR led in quarterly luxury unit sales, recording a sale of around 950 luxury units, followed by Mumbai, which had a share of 23 per cent in overall sales. Bengaluru recorded the highest growth among southern cities, growing from just 20 units in Q1 2024 to about 190 units in January-March 2025. Notably, Kolkata and Chennai had a 5 per cent share in overall luxury unit sales.

Overall residential market performance in January-March 2025

India’s residential market witnessed an equilibrium between new launches and sales in January-March 2025. Approximately 65,300 units were launched, and sales were recorded at 65,800 units. City-wise, Mumbai, Pune, and Delhi NCR collectively accounted for over 62 per cent of total residential sales in January-March 25. The report highlighted that Mumbai recorded the highest number of unit sales during the quarter, with approximately 18,600 units sold, followed by Pune with 12,500 units. Delhi-NCR witnessed sales of 10,000 units, while Bengaluru followed closely with sales of 9,300 units.

Says Dr. Renu Singh, Director of Sales & Marketing, Aarize Group: “Luxury housing continues to outperform, and the 28 per cent YoY rise in Q1 2025 validates the segment’s robust demand fundamentals. Delhi-NCR dominates this momentum with an impressive 49 per cent share, clearly establishing the region as the epicenter of premium housing demand. This growth reflects a decisive shift in buyer preferences towards quality, exclusivity, and long-term value. Factors like improved infrastructure, better connectivity, and NRI interest are further accelerating this trend. We are committed to delivering homes that redefine luxury—not just in terms of design, but also through experience, exclusivity, and future-ready amenities.”

The high-end segment led sales activity in January-March 2025, capturing a 27 per cent share, closely followed by the mid-end segment at 25 per cent. In terms of quarterly launches, Mumbai led the way at 15,600 units (24 per cent), followed by Pune with 15,000(23 per cent) units and Bengaluru with 11,400 units (17 per cent). Around 30 per cent of the launches were dominated by the high-end segment, followed by the mid-segment at 29 per cent.

Anshuman Magazine, Chairman & CEO – India, South-East Asia, Middle East & Africa, CBRE, said, “The Indian residential market’s performance in Q1 2025 reflects both maturity and momentum. The alignment between supply and demand, especially in the mid-to-premium segments, signals a deep understanding of buyer aspirations. Luxury and high-end segments continue to gain traction, driven by rising disposable incomes, lifestyle upgrades, and a desire for future-ready living spaces. We anticipate residential demand to chart a steady course as infrastructure improvements and financing access continue to support housing demand across key cities. Recent cut in repo rate will further improve buying sentiments.”

Ashish Agarwal, Director, AU Real Estate, adds: “The remarkable growth in India’s luxury residential market, led by Delhi-NCR, is an optimistic indicator of the sector’s future. With Delhi-NCR contributing 49 per cent of luxury sales in Q1 2025, the region continues to dominate due to its superior infrastructure and connectivity. Additionally, favorable repo rate decisions have empowered buyers to invest in premium properties, making it a significant driver of this surge. As developers, we are excited to meet the rising demand for world-class homes and are confident that Delhi-NCR will remain the epicenter of luxury housing in India for years to come.”

Outlook

India’s residential real estate market is anticipated to chart a steady course in 2025, fuelled by an increasing appetite for homeownership, rising income levels, and continuous infrastructure improvements. Furthermore, RBI’s initiation of the monetary easing cycle, coupled with the diminishing gap between EMIs and rentals, could encourage homebuyers to finalise their purchase decisions.

New project launches are expected to remain elevated during the year, driven by the substantial land acquisitions witnessed during 2023-24.