July 17, 2025: In the first half of 2025, under-construction premium residential properties across India saw significantly higher capital appreciation than completed projects, according to a new report by Savills India. Mumbai led the trend, registering a striking 44% year-on-year increase in average prices. Bengaluru followed with a 35% rise, and Gurugram with 33%.
The surge was attributed to a spate of new project launches offering modern layouts, early-stage pricing benefits, and strategic locations. In contrast, completed luxury homes recorded a steadier appreciation, ranging between 1% and 32% across major cities.
In Mumbai, the sharp rise in prices was driven by high-end launches in South and Central locations. These projects boasted better layouts, Vaastu compliance, and connectivity to infrastructure like the Coastal Road. Larger homes such as bungalows and full-floor residences in low-density areas continued to attract wealthy buyers prioritising space and privacy.
Bengaluru’s under-construction luxury homes saw capital values rise by up to 48% in central areas, propelled by land scarcity, premium positioning, and demand for sustainable, amenity-rich homes. South Bengaluru led in completed home appreciation with a 39% year-on-year rise.
In Delhi, luxury floors appreciated by 9% overall, with South East Delhi leading at 11%. Plot values also rose moderately by 7%, with South East and Central micro-markets recording the sharpest gains.
Gurugram’s residential plot prices grew 11% citywide, while the GCER and SPR corridors saw a 19% rise, supported by increased land demand. Noida witnessed price increases of 6% to 27%, with the Noida-Greater Noida Expressway showing the strongest growth.
“India’s high-end housing market has seen robust appreciation, driven by limited supply and evolving buyer expectations,” said Shveta Jain, MD, Residential Services, Savills India. “Going forward, a calibrated pricing strategy will be critical.”
Source: Hindustan Times
