Mumbai: Luxury Home Sales Surges, ₹10 Crore And More Properties See 8% Rise

Demand for luxury homes, each priced Rs10 crore and above, remained strong with sales rising 8% in January-June to around Rs12,300 crore, according to a report by India Sotheby’s International Realty and CRE Matrix.

Sales stood at Rs11,400 crore in the first half of the 2023 calendar year. In the report, India Sotheby’s International Realty and CRE Matrix noted that the surge at the high end of the market aligns with an ongoing bullish trend in residential property sales overall, reflecting the exuberance and confidence in the Indian economy.

India Sotheby’s International Realty, one of the leading transaction and advisory firms for luxury homes, and data analytics firm CRE Matrix released the report on Mumbai’s luxury housing market (including both primary and secondary market) for the first half of this year on Thursday.

Out of the total sales, the primary luxury segment saw sales worth Rs8,752 crore while the secondary (resale) market saw record sales of over Rs3,500 crore, up 38% compared to the first half of the 2023 calendar year.

Among big-ticket transactions, the report mentioned Rs 270 crore deal by Anil Gupta and well-known Polyester Ltd at Lodha Malabar, Malabar Hill; Rs 156.5 crore deal by Rekha Jhunjhunwala and Family at Rockside Apartment, Malabar Hill; Rs116.4 crore by Vratika Gupta at Oberoi 360 West, Worli; Rs101 crore by Girdharlal Bawri and others at G+1 Bungalow, JVPD Scheme, Juhu; and Rs97.4 crore by Mavjibhai Shamjibhai Patel at Oberoi 360 West, Worli.

Kriti Sanon buys plot in Alibaug

Bollywood actress Kriti Sanon has acquired 2,000 sq ft land at realty firm The House of Abhinandan Lodha’s premium project in Alibaug. In a statement, The House of Abhinandan Lodha on Thursday said Sanon has acquired 2,000 sq ft of land in its premium project, Sol de Alibaug, about 60 minutes from South Mumbai by sea. Buying land on my own has been quite an empowering journey and I have had my eyes on Alibaug, for a while,” Sanon said. Recently, Amitabh Bachchan acquired a 10,000 sq ft plot in the same project in Alibaug.