The Indian residential property market reached record highs in the March quarter due to steady economic circumstances and buyer confidence. JLL India reported record residential sales despite increased borrowing rates and property costs.

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.

The Indian housing market hit a new milestone in FY24, with sales reaching an all-time high over the past decade. A remarkable 5 lakh units were sold, marking a significant leap in the demand for homes.

The overall value of housing inventory sold in 2023 would reach Rs 4.5 lakh crore, up 38% from 2022's Rs 3.27 lakh crore. Anarock Group research shows strong housing market expansion.

The Reserve Bank of India's fifth straight repo rate hold at 6.5% is likely to boost the Indian property industry, especially Mumbai house sales.

An Anarock report found that sales of high-end properties in the cities of Delhi-NCR, Chennai, and Bangalore increased by over twofold in 2023.

According to a report by CBRE South Asia, between January and June of this year, 6,900 Indian luxury residences with a price tag of Rs 4 crore or more were successfully transacted. This represents an increase from the 3000 units sold in 2022.

Luxury property sales in India's major cities have gone over the roof in 2022. To all appearances, the luxury home run is here to stay.

Sales of luxury homes increase from 7% in 2019 to 14% in the first half of 2022, with the highest sales of luxury properties occurring in the Mumbai Metropolitan Area.

Luxury residential property sales in Mumbai increased more than twofold year on year to Rs 20,255 crore in 2021, owing to growing customer demand for larger residences with more facilities and cheap mortgage rates.