According to Knight Frank India’s monthly study, 170,201 housing units were sold in India’s major eight cities in the first half of this year, with high-end housing costing more than Rs10 million, indicating a strong growth rate of 17% YoY in sales.
Developers’ sustained faith in long-term demand fundamentals is demonstrated by the fact that new launches, at 179,740 units, continued to outpace sales throughout the period. This tendency has still another explanation. In addition to the rise in wealth, India’s proportion of HNIs and UHNIs is projected to rise from 3% to 9% by 2034.
Mumbai remained the largest residential market by volume, with steady sales year over year. In H1 2025, sales volumes in Bengaluru (-3%) and the National Capital Region (-8%) had slight adjustments. Significantly, sales of Rs10–20 million increased 8% year over year in H1, while sales of Rs20–50 million increased 29% year over year.
Sales in the unit price range of Rs 100-200 million increased 128 percent YoY, while sales in the Rs 50-100 million range increased 19 percent YoY. To top it all off, premium homes priced between Rs 200 and Rs 500 million quadrupled in value year over year. Mumbai came in second place in the ultra-luxury house sales, which were led by NCR-Delhi. Gurugram dominates India’s ultra-luxury sector sales.
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