Here’s what you can get at India’s ₹100 crore addresses

For some of them, the ₹100 crore house has a 800-1200 sq.ft. sea-facing bedroom in a penthouse on Mumbai’s Pali Hill. Others are sold on the idea of golf courses in their courtyards and luxury spas, top chefs, and premium amenities.

“2024 saw a rise in ₹100 crore-plus transactions, particularly in Delhi-NCR, Mumbai and Bengaluru," said Ritesh Mehta, senior director and head–north, west & east residential services, India, at Jones Lang LaSalle Inc., or JLL, a property consultancy.

“Gurgaon’s Golf Course Road and South Mumbai’s Malabar Hill are witnessing record-breaking deals, reflecting growing confidence in ultra-luxury real estate as a stable investment."

According to PropEquity, a real estate analytics platform, 13 houses worth at least ₹100 crore were purchased between January and October last year, as against 21 such transactions in 2023. PropEquity tracks the Real Estate Regulation and Development (Rera) website and registration data and conducts on-ground surveys.

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Property consultancy Anarock Group estimates that 99 ultra-luxury residential deals worth a combined ₹8,069 crore were closed in India’s top cities in 2022, 2023, and 2024 (till August).

According to Mehta, while most buyers of such ultra-expensive houses—typically billionaire industrialists, tech CEOs, film celebrities, and non-resident Indians—do so for personal use, a niche group buys such properties to cash in when the value appreciates.

Overall, India's real estate market surged in 2024, with a 16% jump in the overall sales value due to average price appreciation and increasing unit or home sizes. However, in terms of home sales, the sector saw a slight drop.

Your wish is my command

Pali Hill is one of the costliest localities in Mumbai. At the fag end of the posh hillside suburb, adjoining Bandra’s hustle-bustle quiets down, and an array of trees and chirruping birds welcome you to Rustomjee Group’s Parishram project.

The to-be residents at Parishram, which is under construction and expected to be completed by February, prefer the property for the location’s exclusivity. Around it are homes of some of Bollywood’s biggest celebrities.

Keystone Realtors Ltd, a.k.a. Rustomjee Group, recently sold multiple units at Parishram to a single buyer so he could combine them into one large penthouse apartment. The units cost the buyer, whose name the company did not want to disclose, ₹110-120 crore.

The 6,000 sq.ft. first floor of the apartment is largely reserved for the living room, one bedroom and a kitchen. When you enter, the living room opens to a glass-enclosed outdoor deck, reserved for landscaping and a small sitting area. 

The rest of the living room has been left open for different kinds of entertainment spaces, with enough space for hundreds of guests. The entire floor features large windows that open to a view of the sea.

The buyer’s private space is atop this floor, with a massive master bedroom facing the sea and a couple of other rooms for his nuclear family.

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“These people have travelled across the globe. We are seeing that such people want large interiors, they should be able to stay amid nature. They also want to have a great address and spend time with quality people," said Rakesh Setia, president, marketing and sales, at Rustomjee Group, which has sold another ₹100 crore-plus apartment at its Panorama project, also at Pali Hill.

“Flexibility of interior design is important for many," said Reshmi Panicker, executive director–land services and residential, Knight Frank India, a property consultancy. “Size, views and bespoke amenities such as large layouts, size of rooms, floor-to-floor heights, views, adequate space for staff, state-of-the-art amenities, all play a key role in decision-making."

The ₹200-crore apartment

One of the biggest deals of 2024 was by DLF Ltd, which sold a penthouse at its The Camellias project in Gurugram for about ₹190 crore—among the costliest in India in terms of price per square foot. The property, sprawling 16,290 sq.ft, was purchased by Rishi Parti, a director of Info-x Software Tech Pvt. Ltd, Times of India reported.

The property’s clubhouse includes a gymnasium with an Olympic-standard boxing ring, salons, spas, and floatation rooms. It also has a ballroom, a theatre, restaurants and bars, all exclusive to residents of The Camellias.

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Another such developer is Mumbai-based Macrotech Developers, or the Lodha Group, which last year sold two luxurious flats for a total ₹270 crore to Anil Gupta, the chairman and managing director of Wellknown Polyesters Ltd, and a ₹185 crore apartment at Lodha Worli Sea Face to Alkem Lab promoter Seema Singh.

“From Mumbai’s Billionaire’s Row and the heritage charm of Malabar Hill to London’s iconic Grosvenor Square, we identify the world’s most coveted locations and create exclusive developments," a Lodha Group spokesperson said, declining to be identified.

Anuj Puri, chairman, Anarock Group, said demand for luxury and ultra-luxury homes has been scaling “ever-rising heights since the pandemic".

“There has been an unprecedented rise in demand for ultra-luxury trophy homes in the last three years, and Mumbai tops the list of cities with maximum sales of such properties despite it being by far the most expensive residential market in India."

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