Luxury housing prices surge 40% across India’s top cities since 2022

Luxury home prices in India’s top 7 cities rose 40% since 2022, led by Delhi‑NCR’s 72% surge, showing strong demand

India’s luxury housing market has witnessed an extraordinary surge, with prices across the top seven cities rising by an average of 40% since 2022, according to data from Anarock Research. The segment, defined as homes priced above ₹1.5 crore, has outpaced all other residential categories, driven by strong demand from high‑net‑worth individuals and professionals seeking larger, lifestyle‑oriented properties.

The average price of luxury homes climbed from ₹14,530 per sq ft in 2022 to ₹20,300 per sq ft in 2025. Delhi‑NCR recorded the sharpest increase, with values jumping 72% from ₹13,450 to ₹23,100 per sq ft. The Mumbai Metropolitan Region followed with a 43% rise, where prices escalated from ₹28,044 to ₹40,200 per sq ft. Bengaluru also saw significant growth of 42%, with prices moving from ₹11,760 to ₹16,700 per sq ft.

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While luxury homes led the rally, other segments also registered notable appreciation. Affordable housing units, priced below ₹40 lakh, rose 26% to ₹5,299 per sq ft, with Hyderabad and NCR showing the steepest gains. Mid‑range and premium homes, ranging between ₹40 lakh and ₹1.5 crore, appreciated by 39%, reaching ₹9,537 per sq ft in 2025.

Despite rising construction costs and price surges, demand for luxury homes has remained resilient. Of the 2.87 lakh units sold across the seven major cities in the first nine months of 2025, nearly 30% were luxury properties. Analysts attribute this to a growing preference for branded developments in prime locations, reflecting a structural shift toward aspirational and experience‑driven living.

Delhi‑NCR stood out not only in luxury but across all segments, recording the highest growth rates—72% in luxury, 54% in mid‑premium, and 48% in affordable housing—underscoring its strong market fundamentals.

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