New Delhi, Apr 30: Bengaluru’s housing market witnessed a 59 per cent rise in sales of luxury homes priced Rs 10 crore and above in the last fiscal, hitting a record Rs 1,000 crore on the back of high demand, according to a report by India Sotheby’s International Realty and CRE Matrix.
A recent report by real estate consultant India Sotheby’s International Realty (ISIR) and real estate data analytics firm CRE Matrix mentioned that Bengaluru’s luxury housing market (Rs 10 crore and above) achieved sales bookings of Rs 1,000 crore in 2024-25, up from Rs 627 crore in the previous year.
In terms of volume, luxury home sales grew from 51 units to 78 units.
The report said that in Bengaluru’s luxury segment, ticket-size apartments of Rs 10-12 crore are witnessing the highest sales.
“Bengaluru’s luxury housing market has taken a new level. We are seeing discerning buyers – particularly CXOs, startup founders and global Indians – investing not just in homes, but in lifestyle. Today, demand is driven as much by aspiration as by strategic asset allocation,” said Ashvin Chaddha, CEO, ISIR.
Abhishek Kiran Gupta, co-founder and CEO, CRE Matrix, said this is the first time the Bengaluru market has achieved sales of Rs 1,000 crore during a fiscal.
“HNIs and startup founders are taking the sector to new heights,” he said.
The report said that during the last fiscal, 22 percent of the total sales value in Bengaluru came from Hebbal. It also led in terms of sales, contributing 19 percent of the total units sold.
Commenting on the report, Madhusudan G, Chairman and Managing Director, Sumadhura Group, said housing demand in Bengaluru is driven heavily by improvements in infrastructure, including the expansion of the metro rail network.
Umesh Gowda HA, Chairman and Founder, real estate developer Sanjivini Group, said, “Bengaluru has witnessed a significant increase in the demand for luxury homes. An ever-growing corporate presence, record leasing activity and rising incomes have fuelled the demand for this category. Micro markets such as Varthur and Gunjur have emerged as preferred residential destinations due to their connectivity to tech hubs.”
Darshan Govindaraju, Director, Vaishnavi Group, said the Indian luxury housing market is witnessing sustained momentum, driven not only by NRIs but also startup founders, ESOP-rich professionals and investors seeking capital growth.
Anjana Shastri, Marketing Director, Sterling Developers, said, “A combination of economic, social and lifestyle factors is driving the luxury housing segment in Bengaluru.”
Shastri said the city’s thriving IT industry, employment opportunities by corporate and multinational companies, development of technology parks in several key areas, metropolitan charm, high rental realisation and infrastructure development, etc. are driving the demand for premium and luxury homes.
