MUMBAI: India’s luxury housing segment (units priced at Rs 4 crore and above) recorded 28% Y-o-Y sales growth in Jan-Mar 2025 across India’s top seven cities, as per real estate consultant CBRE South Asia’s ‘India Market Monitor Q1 2025- Residential’ report. The segment witnessed total sales of approximately 1,930 luxury units during the quarter.
Among the top seven cities, Delhi-NCR led in quarterly luxury unit sales, recording nearly half of total sales at around 950 luxury units, followed by Mumbai, which had a share of 23% in overall sales.
Bengaluru recorded the highest growth among southern cities, growing from just 20 units in Q1 2024 to about 190 units in Jan-Mar ’25. Notably, Kolkata and Chennai had a 5% share in overall luxury unit sales.
“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,” said Anshuman Magazine, Chairman & CEO - India, South-East Asia, Middle East & Africa, CBRE.
The consultant believes that 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, added CBRE.
The optimism by CBRE comes despite a sharp fall in housing sales in the recently concluded quarter. As per PropEquity data, housing sales fell 23% to 1,05,791 units across India’s top 9 cities, while supply dipped by 34% to 80,774 in Jan-March of 2025. Except for Bengaluru and Delhi-NCR, all seven cities witnessed a decline in sales.