India Luxury Housing Statistics 2026: Sales, Cities and NCR's Share

What counts as luxury housing in India?

There is no single definition, which is why headline numbers vary so much. Anarock calls ₹1.5 crore to ₹2.5 crore high-end, ₹2.5 crore to ₹4 crore luxury and above ₹4 crore ultra-luxury. CBRE's luxury tracker uses ₹4 crore and above. Knight Frank reports by ticket-size bands from below ₹50 lakh up to above ₹50 crore. India Sotheby's International Realty and CRE Matrix track Mumbai deals above ₹10 crore.

When you read a luxury statistic, check the threshold first. A '30% luxury share' at ₹1.5 crore and a '5% luxury share' at ₹4 crore can describe the same market. On this page we keep each firm's definition next to its number.

How big is luxury's share of Indian home sales?

More than half of homes sold in India's big cities now cost over ₹1 crore. Knight Frank's H1 2026 data across eight cities puts that share at 54%, up from 49% a year earlier. The ₹1 crore to ₹2 crore band is the largest single slice at 29% of sales, and ₹2 crore to ₹5 crore is 20%, up from 17%.

The cause is partly real demand and partly repricing. Knight Frank notes that mid-tier homes have moved into the ₹1 crore to ₹2 crore bracket after three to four years of price rises, while the sub-₹50 lakh segment keeps shrinking because developers are adding little supply there. In other words, some 'luxury growth' is simply ordinary flats becoming more expensive.

Which city sells the most luxury homes in India?

NCR, by a distance, at the top end. CRE Matrix counts ₹41,440 crore of homes above ₹5 crore sold in NCR in H1 2026, across 4,401 units. That is about 69% more than MMR's ₹24,549 crore (2,294 units) and 2.7 times Hyderabad's ₹15,151 crore (1,899 units). NCR, MMR and Hyderabad together accounted for roughly 85% of the value in this bracket.

Below the top three the numbers fall away fast. Bengaluru sold ₹6,679 crore of ₹5 crore+ homes (729 units), and Ahmedabad, Kolkata and Chennai each landed between ₹2,277 crore and ₹2,477 crore. Pune, a big market overall, managed only ₹878 crore across 113 units. Kolkata's average ticket of about ₹9.8 crore is higher than Hyderabad's, which shows how a handful of large deals can tilt a small market. For a Gurgaon buyer the point is simple: NCR is where India's ₹5 crore+ liquidity is deepest.

Mumbai still wins at the very top of the ladder. In the ₹10 crore and above segment, India Sotheby's International Realty and CRE Matrix recorded 957 deals worth ₹18,512 crore in Mumbai in H1 2026, up 12% by value and 26% by volume. Over 12 months nearly 1,700 such homes sold for close to ₹34,000 crore. Prices in that segment have eased about 4% so far in 2026 after rising 37% between 2021 and 2025.

NCR and Gurgaon: India's luxury engine

NCR's lead in luxury is not new. CBRE's H1 2025 report counted about 7,000 homes sold at ₹4 crore and above across seven cities, with NCR taking about 4,000 of them, a 57% share and three times its year-earlier level. Mumbai was second with about 1,240 units.

Gurugram drives most of that. Knight Frank says nearly all new Gurugram projects launched in H1 2026 were priced above ₹2 crore, and across NCR the ₹2 crore to ₹5 crore band took 43% of sales. Anarock's Q3 2026 data shows 34% of NCR launches priced above ₹2.5 crore, the highest luxury share of any of the seven cities, and NCR prices rose 12% in a year, which Anarock attributes to that concentration of luxury and ultra-luxury launches.

Our own inventory reflects the same skew. Of the 87 Gurgaon projects listed on Curated Homes, 91% start at ₹1.5 crore or more, 39% at ₹4 crore or more and 11% at ₹10 crore or more. The median starting price is ₹2.94 crore. That is a curated luxury list, not the whole market, but it shows where Gurgaon's branded developers are building.

Is luxury supply slowing in 2026?

Developers have started to lean back towards the middle. In Q3 2026, homes above ₹2.5 crore made up 14% of new launches across Anarock's seven cities, down from 22% in Q2 2026. Homes above ₹1.5 crore were 38% of launches. The affordable segment more than doubled its share to 14%.

City by city, Hyderabad had the most premium-heavy pipeline with 66% of launches above ₹1.5 crore, followed by NCR at 62% and Bengaluru at 52%. Kolkata was at the other end with just 4%.

Inventory is the warning light. Knight Frank's unsold stock in the ₹20 crore to ₹50 crore band rose 52% year on year and would take 14.2 quarters to clear at the current pace, though the two top bands together hold only about 2,081 units, so a few big projects move the ratio. In NCR the ₹20 crore to ₹50 crore band's unsold stock jumped from a tiny base to 254 units.

What is driving luxury demand?

CBRE puts the 2025 jump in luxury demand at 70% and lists rising household incomes, NRI buying and a preference for larger homes as the drivers. It found high-end homes rose from about 12% of sales in 2022 to 26.8% in 2025. In its H1 2025 luxury report CBRE also named HNI, UHNI and NRI interest, partly as a hedge against global uncertainty and to benefit from a strong dollar.

Buyer age matters too. In Mumbai's ₹10 crore+ segment, buyers aged 35 to 55 accounted for 58% of purchases in H1 2026 and those above 65 for 12%. That is end-user money, not speculative flipping, which is one reason luxury prices have held up better than volumes.

Our view for buyers: the luxury market is deep enough to be liquid at the best addresses, but the 2026 data says pricing power has peaked for now. Negotiate on payment plans and extras rather than expecting list-price discounts.