Business news : 51 percent increase in sales of luxury houses

Due to strong demand, sales of luxury homes priced at Rs 50 crore and above increased by 51 per cent by value to Rs 4,319 crore in 2023. At least 45 luxury houses were sold during this period. At least 29 houses worth Rs 2,859 crore were sold in this price range in 2022.

According to real estate consultant JLL India, luxury houses sold in 2023 include both bungalows and apartments. It also includes primary market and resale transactions. It does not include any gifts and joint venture transactions.

14 houses worth more than Rs 100 crore
Samantak Das, chief economist, JLL India, said, of the 45 luxury homes sold in 2023, 14 were priced at Rs 100 crore and above. Most of these, 79 percent, were sold in Mumbai.

There will be demand in 2024 also
Ashwin Chadha, CEO, India Sotheby’s International Realty, said the demand for such residential real estate is witnessing significant growth from 2021. It will continue at the same pace in 2024 also.