Real Estate: Property prices have risen tremendously in the last few years. After Covid 19, a new trend has been seen in this market. People are now looking to buy bigger houses. For this, they are ready to pay crores of rupees. However, now a report has revealed that the demand for ultra luxury homes above Rs 40 crore has increased tremendously. This has surprised everyone. Such houses are being sold the most in Mumbai.
Price of ultra luxury homes increased to Rs 1,02,458 per sq ft
According to a report by Anarock, there is a tremendous jump in the demand for houses costing more than Rs 40 crore in the year 2024. The effect of rising property prices is not visible on the buyers. According to the report, in the last 8 months, the price of ultra luxury houses has increased by 2 percent from Rs 1,00,208 per square feet to Rs 1,02,458 per square feet. 25 such houses have been sold in Mumbai, Hyderabad, Gurugram and Bengaluru. They have been sold for Rs 2,443 crore. Not a single such house has been sold in Pune, Chennai and Kolkata.
Out of total 25 deals, 21 were in Mumbai, 9 houses sold for Rs 100 crore
Anarock Chairman Anuj Puri said that in the year 2023, 61 such deals worth Rs 4,456 crore were done in Mumbai, Hyderabad and Gurugram. Now the festive season has arrived. In such a situation, the deal of these expensive houses will increase. Out of these 25 houses, 20 are high rise apartments and 5 bungalows. Out of these, 21 deals have been done in Mumbai. Apart from this, the price of 9 of these houses was more than Rs 100 crore. Most of these houses have been bought by businessmen. After this comes the turn of senior professionals and Bollywood people. In the year 2022, 13 such ultra luxury houses were sold.
Housing sector will grow at the rate of 10 percent, private investment will increase
Investment firm Jefferies has said that the capital investment made by the government has seen a 3-fold increase in the last 5 years. Now, with the support of the government, the private sector is also rapidly increasing capital investment. In such a situation, India’s housing sector will grow at a compounded annual growth rate (CAGR) of 10 percent in the next 3 to 5 years.
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