Mumbai and Delhi NCR Lead Ultra-Luxury Home Market with Record-Breaking Sales

Mumbai and Delhi NCR hold the pole position in buying ultra-luxury homes. The demand for them keeps increasing among the affluent, transforming the face of real estate.

 

Resort-like apartments now predominate in the ultra-luxury housing market, reshaping the meaning of trophy homes, which earlier meant standalone homes such as villas and bungalows. Mumbai and Delhi NCR remain at the forefront of housing demand for luxury homes, a report by JLL has stated.

 

The last three years saw Rs 7,500 crore invested in 49 ultra-luxury apartments priced at Rs 100 crore and above, with almost Rs 3,652 crore having been invested in 2024 alone. During the first two months of 2025, four ultra-luxury apartments were sold, worth Rs 850 crore, it added.

 

Out of the 49 houses sold over the last three years, Mumbai accounted for 69% share and then came Delhi NCR, it added.

 

Apartments valued at Rs 100 crore and more represented 65% of the ultra-luxury sales in the last three years, and bungalows comprised the remaining 35%, as per a report by JLL. Most of these ultra-luxury properties fell in the range of Rs 100 crore to Rs 200 crore, as per the study.

 

The research considers ultra luxury properties that cost Rs 100 crore and more. Both primary and secondary market deals are covered.

 

"According to our research, apartments with a price tag of Rs 100 crore and more had 65% share in the total number of transactions settled in the last three years; bungalows had the rest 35% share". Most of these ultra luxury residences were valued between Rs 100 – 200 crore. Yet, a few properties were dealt with over this price range and were valued between Rs 200 - 500 crore too", stated Samantak Das, Chief Economist and Head of Research and REIS, India, JLL.