Luxury Housing Sales Grow 28 PC, Unsold Inventory Too Rise 24 PC

Chennai: While the luxury housing segment recorded 28 per cent growth in sales in the March quarter, unsold luxury housing units also rose by 24 per cent.

India’s luxury housing segment in the top seven cities recorded sales of 1930 units in the March quarter, 28 per cent growth over the same quarter last year, as per the data of CBRE.

Among the top seven cities, Delhi-NCR led in quarterly luxury unit sales with around 950 units and 49 per cent share, followed by Mumbai. Bengaluru recorded the highest growth among southern cities, growing from just 20 units in Q1 2024 to about 190 units in Q1 2025. Hyderabad, Kolkata and Chennai had a 5 per cent share in overall luxury unit sales.

However, according to Anarock Group, luxury housing saw a 24 per cent surge in unsold stock, rising from 91,125 units in the same quarter last year to over 1.13 lakh units in Q1 this year, fuelled by robust demand and new supply.

Luxury housing sales share rose from 7 per cent in 2019 to 26 per cent in 2024, and new supply share doubled from 11 per cent to 26 per cent. Nevertheless, the segment saw unsold inventory pile up due to increased supply and cautious investor sentiment amid the ongoing global economic uncertainty.

Among the top 7 cities, Chennai and Pune were the only cities to see their unsold luxury stock decline in the period by 4 per cent and 11 per cent, respectively. While Chennai’s current unsold luxury stock is at 2,453 units, Pune’s is at 3,668 units. NCR, Mumbai, Kolkata, Hyderabad and Bengaluru saw their unsold luxury stock rise.

"The build-up of stock in luxury housing, which has been the top-performing segment in the past 2-3 years, is largely due to significant supply additions in the last one to two years," said Anuj Puri, chairman, Anarock.