NEW DELHI: There is no dearth of buyers for ultra-expensive apartments and cars as data shared by companies shows that they continue to hit record sales numbers. India’s largest realtor DLF on Monday informed that it sold entire 1,113 luxury flats in a project (DLF Parivana South) in Gurugram for Rs 7,200 crore within three days of pre-launch, while the country’s top luxury car brand Mercedes-Benz said that 2023 was its best year in the India market. The German carmaker sold 17,408 four-wheelers in 2023, up 10% year on year.
It was only last week when Audi India announced that its sales in 2023 grew by 90% to 7,931 units. With BMW and other luxury players in this niche segment also expected to report record sales in the coming days, total luxury car sales may have hit the 45,000 mark in 2023.
“There is an immense desire for Mercedes-Benz brand, driven by superior products, introduction of top-end vehicles (TEV), elevated customer experiences, and customized solutions developed specifically for the Indian market,” said Santosh Iyer, MD & CEO, Mercedes-Benz India. Going forward in 2024, the carmaker has planned 12+ new launches, including 3 EVs. DLF apartments which were sold in three days were priced between Rs 6.25-7.5 crore a unit. Penthouses cost Rs 11-14 crore each.
“The swift pre-launch sellout serves is a testament to the increasing demand for high-rise luxury developments by DLF...,’ said Aakash Ohri, joint managing director and chief business officer, DLF Home Developers.
Last week, Godrej Properties had announced selling more than 600 flats in its new luxury housing project at Gurugram for over Rs 2,600 crore. The Mumbai-based realtor has also acquired a 4-acre land parcel in Bengaluru to develop luxury units and expects revenue of Rs 1,000 crore.
Industry experts cite buyers’ aspiration, aided by their rising income, to move into bigger homes with world-class facilities as the main factor for rise in demand for luxury homes. Other big factor is buying real estate as an investment. Ohri said of total booking in their new property, about 85% are end-users and 15% are investors. Carmakers have often termed YOLO (you only live once) phenomenon as the main driver of super expensive vehicles.