Luxury Real Estate in India: The Biggest Property Deals of 2024

India’s luxury real estate market has been buzzing in 2024, with several high-profile transactions taking place in cities like Mumbai and Bengaluru. From lavish sea-view apartments to sprawling penthouses, here’s a look at the top apartment deals of the year that have caught everyone’s attention.

2024 has seen some of the most mind-blowing real estate deals in India, especially in the luxury apartment market. High-profile individuals and corporations have been making waves by purchasing multimillion-dollar properties in the country’s top cities, like Mumbai and Delhi NCR. Here’s a look at some of the biggest apartment deals this year that reflect the growing appetite for luxury living among India’s wealthy elite.

1. Wellknown Polyester CMD Buys Luxury Apartments in Mumbai – ₹270 Crore

In a massive deal that grabbed headlines, Anil Gupta, the chairman and managing director of Wellknown Polyesters Ltd, purchased two luxurious apartments in Mumbai’s exclusive Worli area for ₹270 crore. These apartments, part of the prestigious Lodha Malabar project on Walkeshwar Road, cover a total of 19,000 sq ft. The deal was struck in April 2024 and showcases the continued demand for high-end properties in Mumbai, a city already famous for its luxury real estate market. The price tag of ₹135 crore per apartment is a clear indicator of how luxury living is becoming an ever-more sought-after lifestyle for the city’s ultra-rich.

2. GreatWhite Global’s Luxury Apartments in Mumbai – ₹225 Crore

In October 2024, GreatWhite Global Private Limited, a leading manufacturer of electrical accessories, made a significant investment in luxury real estate. The company purchased two 8,041 sq ft apartments in the Oberoi Three Sixty West project, located in Mumbai’s upscale Worli neighborhood, for ₹225 crore.

Both units, situated in Tower B of the project, come with five car parking spaces each. The stamp duty for the two transactions amounted to ₹4.41 crore and ₹4.39 crore, while the registration fee was ₹30,000 for each deal. This high-value purchase reinforces the strong demand for premium residences in Mumbai.

3. DLF Camellias Penthouse in Gurugram – ₹190 Crore

In December 2024, the most expensive apartment deal in India took place in Gurugram. A stunning 16,290 sq ft penthouse in DLF’s prestigious Camellias project was bought for a jaw-dropping ₹190 crore. The buyer, Info-x Software Technology Pvt Ltd, was represented by its director Rishi Parti. The deal, which was registered on December 2, also saw the company paying a stamp duty of ₹13.30 crore. Gurugram, known for its upscale residential offerings, has now surpassed even Delhi and Mumbai in terms of luxury property prices. Industry experts point out that the growing wealth of corporate executives has been a key factor in driving this demand for ultra-luxury homes. As real estate continues to be a preferred investment choice among the rich, this deal highlights the rise of Gurugram as a top luxury destination in India.

4. RR Kabel’s Shreegopal Kabra Buys Apartments in Mumbai’s Worli – ₹198 Crore

Another big deal in Mumbai took place in October 2024 when Shreegopal Kabra, the promoter of RR Kabel Ltd, and his family bought two luxury apartments in Worli for a total of ₹198 crore. These apartments, which span 13,809 sq ft, are located on the 62nd floor of the Oberoi Three Sixty West, a premium project by Oberoi Realty. The cost per square foot came to ₹1.43 lakh, making these properties some of the most expensive in the area. The family’s purchase also includes 10 car parking spaces, a luxury that adds to the convenience and exclusivity of the apartments.

5. Seema Singh Apartment in Mumbai – ₹185 Crore

Seema Singh, part of the promoter group of Alkem Laboratories, made headlines with her purchase of a luxury apartment in Mumbai’s upscale Worli locality. She acquired a 14,000 square feet apartment on the 30th floor of the under-construction Lodha Sea Face tower for a whopping Rs 185 crore. This high-end property comes with nine parking spaces and offers panoramic views of the Arabian Sea. Seema Singh paid Rs 9.25 crore in stamp duty for this transaction, which stands out as one of the largest apartment deals in Mumbai this year.

This transaction not only underscores the allure of Mumbai's luxury real estate but also highlights the growing demand for ultra-premium residences in high-rise buildings. The inclusion of nine parking spaces is a testament to the tailored conveniences offered to cater to the elite, making it a benchmark deal in Worli's real estate landscape.

6. Nadir Godrej’s Three Apartments in Malabar Hill – ₹180 Crore

In a significant real estate move, Nadir Godrej, part of the well-known Godrej Industries, made headlines with his purchase of three luxury apartments for ₹180 crore in the posh Malabar Hill area of South Mumbai. This deal, finalized in June 2024, reflects the Godrej family’s long-standing connection to the luxury real estate market in Mumbai. The luxurious apartments were bought in Ruparel House, a high-end residential complex, and are among the priciest properties in one of the city’s most exclusive neighborhoods.

7. Sunil Vachani’s Bungalow in Golf Links, New Delhi – ₹170 Crore

In a landmark deal after the COVID-19 lockdown, Sunil Vachani, Chairman of Dixon Technologies, purchased a 1,250-square-yard bungalow in the coveted Golf Links area for ₹170 crore. At ₹1.5 lakh per sq ft, this transaction highlights the enduring appeal of Lutyens’ bungalow zone.

Real estate experts attribute the growing demand for such properties to the ultra-rich seeking spacious, green locales in the wake of the pandemic. A similar-sized property in Golf Links had sold for ₹120 crore in early 2020, underscoring the rising value of premium real estate in the area.

8. Anurang Jain’s Bungalow on Kautilya Marg, New Delhi – ₹130 Crore

Anurang Jain, Managing Director of Endurance Technologies, made one of Delhi’s most expensive residential purchases in 2024. He bought a 1,350-square-yard bungalow on the prestigious Kautilya Marg for ₹130 crore. The deal included a hefty stamp duty payment of ₹8.32 crore.

This isn’t Jain’s first major real estate transaction. Back in 2020, he purchased two luxurious flats on Mumbai’s Carmichael Road for ₹100 crore. Jain’s latest acquisition highlights the trend of top industrialists investing in luxury properties as a blend of aspiration and long-term investment.

9. Mukesh Gupta’s Triplex in Worli – ₹107 Crore

The family of Mukesh Gupta, Chairman of Lloyds Group, purchased a luxurious triplex in Worli’s Sea Krest building for Rs 107 crore. The apartment spans three floors (25th to 27th) and covers 13,207 square feet. With 16 car parking spaces, this property redefines luxury living. The transaction included a stamp duty payment of Rs 6.42 crore, further showcasing the value of this high-end purchase.

This purchase signifies the continuing trend of multi-level residences gaining traction among India’s wealthy. With sprawling floor plans and top-notch amenities, properties like Sea Krest are setting new standards for urban luxury, especially in Mumbai's vibrant Worli neighborhood.

10. Gaurav Trehan Sea-View Apartment in Malabar Hill – ₹88 Crore

Gaurav Trehan, CEO of KKR India, invested in a luxurious 5,381 square feet apartment in the Morena House project in Malabar Hill for Rs 88 crore. Located on the sixth floor, the property includes a 434 square feet deck and four car parking spaces. With its stunning sea views and exclusive address, this deal cements Malabar Hill’s status as one of India’s most sought-after neighborhoods.

Malabar Hill continues to captivate ultra-high-net-worth individuals with its mix of historic charm and contemporary luxury. The inclusion of a private deck offering sea views adds a unique touch, making this property not just a residence but an aspirational lifestyle statement.

11. Divi’s Labs’ Nilima Prasad Divi’s Properties in Jubilee Hills, Hyderabad – ₹80 Crore

Nilima Prasad Divi, daughter of Divi’s Laboratories founder Murali Divi, invested ₹80 crore in two properties located in Hyderabad’s posh Jubilee Hills area. Each property cost ₹40 crore, and the transactions were registered on May 2, 2024.

Jubilee Hills, along with Banjara Hills, is among the most expensive neighborhoods in Hyderabad. This purchase reflects the growing appeal of luxury homes in the city, which has become a hub for high-net-worth individuals.

12. Narayana Murthy’s Apartment in Bengaluru – ₹50 Crore 

Infosys co-founder Narayana Murthy purchased an 8,400 square feet apartment in Bengaluru’s iconic Kingfisher Towers for Rs 50 crore. This four-bedroom luxury home is located in the city’s central business district and comes with five car parking spaces. Kingfisher Towers, known for its exclusivity, continues to attract India’s elite.

This transaction reflects Bengaluru's evolving luxury market, where landmark projects like Kingfisher Towers offer a perfect blend of exclusivity and convenience. The central location and high-end features make it a top choice for affluent buyers looking for premium living spaces in the city.

13. Saugata Gupta Apartment in Worli – ₹36.4 Crore 

Saugata Gupta, Managing Director and CEO of Marico, along with his wife Reema Sen, acquired a 3,972 square feet apartment in the prestigious Birla Niyaara project in Worli. Priced at Rs 36.4 crore, the property includes five car parking spaces and is part of one of Mumbai’s most sought-after luxury developments. The couple paid a stamp duty of Rs 2.18 crore for the purchase.

Birla Niyaara stands out for its meticulously designed living spaces and state-of-the-art amenities, attracting discerning buyers like the Guptas. The project’s focus on sustainability and modern aesthetics further enhances its appeal as a premier residential destination in Mumbai.

A Year of Record-Breaking Deals

2024 has truly been a landmark year for India’s luxury real estate market, showcasing a remarkable appetite for premium properties among the country’s ultra-rich. From Mumbai’s sky-high penthouses in Worli and Malabar Hill to Gurugram’s sprawling penthouses and Hyderabad’s exclusive villas, these transactions are redefining luxury living.

The common thread across these deals is the buyers’ focus on exclusivity, convenience, and investment potential. As India’s economy continues to grow and its ultra-high-net-worth individuals expand, the demand for such premium properties is set to rise. Cities like Mumbai, Gurugram, Bengaluru, and Hyderabad are now solidifying their positions as hubs for luxury real estate, offering unparalleled lifestyles and returns on investment.

With 2025 on the horizon, the trend of aspirational living and high-value investments in real estate is expected to continue, promising yet another exciting chapter in India’s luxury property market.