In 2024, whereas on one hand the rates of interest (*100*) skyrocketing and the widespread man is avoiding taking mortgage and buying a home, on the different hand the demand for luxurious houses in India has elevated quickly. These luxurious houses, costing Rs 100 crore or extra, (*100*) not solely a spot to reside however have additionally develop into a standing image for the wealthy.
New craze of billionaires
The thought of buying a luxurious residence shouldn’t be new. D-Mart founder and billionaire investor Radhakishan Damani had purchased a bungalow in Mumbai’s Malabar Hill space for Rs 1,001 crore in 2021 itself, which made lots of headlines. This pattern has develop into stronger in 2024. Billionaires and millionaires (*100*) investing extensively in ultra-luxury properties.
Big offers from Mumbai to Delhi
Many file breaking offers passed off in India throughout 2023-2024. JP Tapadia household purchased a home worth Rs 369 crore in Lodha Malabar Project in Malabar Hill space of Mumbai. In the identical mission, Neeraj Bajaj purchased a home worth Rs 252.5 crore and BK Goenka purchased a home worth Rs 230.5 crore in Oberoi Three Sixty West, Worli.
Like Mumbai, demand for luxurious properties is rising in Delhi-NCR additionally. Rishi Parthi just lately purchased a home in ‘Camelias Project’ of Gurugram for Rs 190 crore and Smriti Aggarwal purchased a home for Rs 95 crore. Rishi Parthi is the founder of a software program expertise firm, whereas, Smriti Agarwal belongs to a distinguished enterprise household.
Apart from this, file offers have been additionally seen in Bengaluru. Ruia International Holding purchased a home worth Rs 64.6 crore and Infosys founder NR Narayana Murthy purchased a home worth Rs 50 crore.
Reasons for rising demand for luxurious houses in India
According to studies, the quantity of ultra-high-net-worth people (Ultra-HNIs) is rising quickly in India. The quantity of Ultra-HNIs in India was 13,263 in 2023, which is anticipated to achieve 19,908 by 2028. Their principal sources of earnings (*100*) shares, enterprise, and non-public fairness.
At the identical time, in response to a report by Knight Frank, there was an enormous leap in the gross sales of luxurious flats since 2021. By September 2023, luxurious flats worth Rs 1.3 lakh crore have been bought in India, which is 648% greater than in 2021.
Luxury increase in Gurugram
Gurugram has emerged as the heart of luxurious housing in Delhi-NCR. In the first half of 2024, 59% of gross sales in Gurugram have been from the luxurious phase. In 2019 this determine was solely 4%.
India’s costliest houses
The first identify amongst the costliest houses of India is Mukesh Ambani’s Antilia worth Rs 12,000 crore, which is in the extremely prime location of Mumbai. After this comes JK House worth Rs 6,000 crore, which belongs to Gautam Singhania of Raymond Group. Anil Ambani’s 5,000 crore abode, Shahrukh Khan’s 200 crore Mannat and Amitabh Bachchan’s 120 crore Jalsa (*100*) additionally highly regarded. KM Birla’s Jatiya House in Malabar Hill can be stated to be worth round Rs 3,000 crore. These houses (*100*) not only a place to reside, however (*100*) the delight and identification of these celebrities.
Also learn: China is emptying India’s coffers, sends payments worth billions of rupees yearly
Check out this related article: NBCC targets Rs 1 lakh crore work order book by March – Newz9
Source link