Wellknown Polyesters Chairman Anil Gupta bought two luxury properties in South Mumbai's Malabar Hill region, influencing the luxury real estate market. The home sale, worth over INR 270 crore, established a new Indian residential property sales record at INR 1.41 lakh per square foot.

Despite a rise in interest rates and property prices, stamp duty collection in February for the country's biggest and most costly real estate market, Mumbai, reached a record high. The record collection was driven by premium and middle-income housing categories.

India's luxury real estate sector had a surge of high-priced transactions in 2022. Many of these luxury real estate transactions included the reinvestment of capital gains in order to avoid paying the Capital Gains Tax.