What’s Fuelling Sale of Units Priced at ₹6 Cr

New Delhi, July 26, 2025: The real estate sector has been witnessing a steady boom. The trend of sales of luxury homes, which began after the pandemic, is steadily increasing. According to reports from the last two weeks, not only has the sale of flats priced around INR 1 crore increased, there has also been a significant jump in the sale of flats priced above INR 6 crore.

Who is buying such expensive flats? Is the number of rich people in the country increasing rapidly?

According to the Knight Frank report, 1.7 lakh units have been sold in the first half of 2025. About 50 per cent of these units were priced at INR 1 crore or more while the budget of the remaining flats was also close to INR 1 crore.

In Delhi-NCR, about 81 per cent of the units purchased are priced at more than INR 1 crore. This figure clearly shows that a large section of homebuyers are moving from affordable homes to luxury homes. According to the report, only 1,800 units priced between INR 50 lakh and INR 1 crore were sold in NCR.

The report also shows that property prices in many NCR cities likeNoida, Greater Noida, Ghaziabad and Gurgaon are still lower than other big cities due to which these sales have surpassed cities like Bengaluru and Mumbai.

Dinesh Gupta, President, CREDAI, Western UP, says that property prices have increased due to infrastructure development and property has become the best means of investment. Buyers are buying ultra-luxury homes because it is not only improves the standard of living of people but also gives good returns.

Shailendra Sharma, Chairman, Renox Group, said, “Consumer sentiment is high. Apart from SWAMIH Fund, more than a dozen stalled projects have been revived in Noida and Greater Noida through many other models and launched projects to gel with needs of new generation. Regulations are stricter than earlier and the market is floating with USPs. Hence, people are either upgrading or buying new ultra-luxury flats to improve their standard of living.”

Delhi-NCR leads in sale of ultra-luxury and premium homes

The ultra-luxury housing segment has recorded an 85 per cent increase in sales in the first half of this year compared to the last year.

According to a report by CBRE South Asia Pvt Ltd and ASSOCHAM, about 7,000 units were sold in the top seven cities. In the January-June period, Delhi-NCR was at the forefront of sales with 4,000 luxury units. Compared to last year, Noida, Greater Noida, Gurgaon and Delhi have registered a threefold increase compared to the same period last year. Per the report, the price of these flats is INR 6 crore or more.

According to Lieutenant Colonel Ashwini Nagpal (Retired), COO, Diligent Builders, the region is witnessing IT, infrastructure and industrial development faster than expected.

“Moreover the planned infrastructure, facilities and development are a catalyst to rapid growth. This factor has been supported by supply of units by virtue of newly introduced policy issues in respect of the stalled projects in the region. The real estate sector is getting direct benefit of the same.”

According to Himanshu Garg, Director, RG Group, property prices in the majority of areas within Delhi-NCR, particularly Noida and Greater Noida, remain lower than those in metropolitan cities. The returns have astonished early buyers/investors. “The arrival of new technologies, amenities and concept-based towers has altered market dynamics. In such circumstances, there is an increasing demand for ultra-luxury and premium units even in projects that are still being built or have just been launched as people seek to secure property at a lower cost and achieve higher returns.