NEW DELHI: Luxury housing prices across India’s top seven cities have surged by an average of 40% since 2022, significantly outpacing other residential sectors due to persistent demand from high-net-worth individuals, as reported by Anarock Research.
The average price for luxury homes (priced above ₹1.5 crore) rose from ₹14,530 per sq ft in 2022 to ₹20,300 per sq ft in 2025. The Delhi-NCR region experienced the highest increase, with prices jumping 72% from ₹13,450 per sq ft to ₹23,100 per sq ft. The Mumbai Metropolitan Region (MMR) and Bengaluru followed closely with increases of 43% and 42%, respectively.
In the MMR, prices for luxury properties escalated from ₹28,044 to ₹40,200 per sq ft between 2022 and 2025, while Bengaluru’s prices climbed from ₹11,760 to ₹16,700 per sq ft during the same timeframe.
Conversely, the market for affordable housing units priced below ₹40 lakh saw a more modest growth of 26%, increasing from ₹4,220 per sq ft in 2022 to ₹5,299 per sq ft in 2025. Notably, Hyderabad recorded the highest increase in this segment at 35%, followed by NCR at 48%, although NCR’s current pricing remains slightly lower than Hyderabad’s.
| City | Luxury (>₹1.5 Cr) | Mid-Range & Premium (₹40L–₹1.5 Cr) | Affordable |
| MMR | 40,200 | 16,400 | 6,450 |
| NCR | 23,100 | 9,750 | 5,200 |
| Chennai | 18,500 | 7,450 | 4,865 |
| Bengaluru | 16,700 | 9,140 | 5,450 |
| Pune | 15,200 | 8,850 | 5,850 |
| Hyderabad | 14,200 | 8,420 | 5,235 |
| Kolkata | 14,200 | 6,750 | 4,040 |
“Demand for luxury homes continues to outstrip other segments, fueled by a significant preference for larger residences by reputable developers in prime locations,” said Anuj Puri, chairman of Anarock Group. “Among the 2.87 lakh units sold across the top seven cities in the first nine months of 2025, nearly 30% were luxury homes, despite rising prices and construction costs.” Mid-range and premium homes (priced between ₹40 lakh and ₹1.5 crore) saw a 39% appreciation from ₹6,880 per sq ft in 2022 to ₹9,537 per sq ft in 2025.
NCR led the growth across all segments, posting increases of 72% in luxury, 54% in mid-premium, and 48% in affordable housing, reflecting robust market fundamentals.
