Home truths: Luxury real estate looks set to retain its sheen this year

Stamp duty cuts, reduced circle rates, changing demographics propel high-end homes to new heights

There is money in the air – whether it’s the vast expanses of land lining the national highways in the capital region or the bustling pockets of cities that seem to mint wealth by the minute. Luxury real estate, in particular, has been a magnet for affluence.

For the sector, the year started on a high. Barely a week into 2024, several national dailies featured a full-page advertisement by realty giant DLF, announcing, “We are sold out.” DLF had managed to sell 1,113 luxury apartments in Gurugram for approximately Rs 7,200 crore within three days of the pre-launch.