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Ultra-luxury homes hit ₹2,443 cr in sales in 8 months across top cities

<keyword id="19895040" type="General" weightage="100" keywordseo="real-estate" source="keywords">Real estate</keyword> was India's asset of choice for investment in the first half of 2024, noted a recent FICCI-ANAROCK report. About 59% of the 7,615 respondents across 14 Indian cities expressed their desire to invest in real estate. Out of these, 67% of respondents wanted to buy a house to live in it, while the remaining 33% viewed it as an investment. Out of this 33%, the majority (57%) wanted to earn rental yields from the same, while another 20% planned to sell their property after its price has appreciated significantly. The remaining 23% viewed real estate as an asset for securing their future. Even for millennials, buying a house featured at the top of their priorities. 66% of millennials and 41% of generation X respondents highlighted that they intended to utilize their investment gains to buy a house in the future. What was also notable was the significant decline in demand for ready-to-move in units and a corresponding rise in demand for under-construction units. During the first half of 2024, for every 20 individuals who preferred a ready-to-move-in house, 25 respondents chose a new launch or under-construction property. This ratio was at 32:21 in the first half of 2021. Some of the reasons why over 53% of homebuyers are dissatisfied with the current available options when it comes to <keyword id="20254620" type="General" weightage="20" keywordseo="affordable-housing" source="keywords">affordable housing</keyword> are location accessibility (92%), poor quality construction design (84%), and small unit sizes (68%). Even the supply in the affordable housing category across the top 7 Indian cities has considerably shrunk over the last 3 years, from 26% in 2021 to just 17% as of September 2024. However, this differed based on the city. While over 50% of respondents chose 3BHK apartments in cities like Chennai, Hyderabad, Delhi-NCR, and Bengaluru, over 40% preferred a 2BHK in other metros like Kolkata. Mumbai Metropolitan Region (MMR) and Pune. However, that does not mean that there is little demand for luxury homes. 28% of respondents preferred buying a house between the range of Rs 90 lakh and Rs 1.5 crore. This was a mere 18% prior to the pandemic. However, the most common budget range for houses remained between Rs 45-90 lakh, with 35% of respondents choosing the same. As far as under-construction properties are concerned, a staggering 98% of respondents prefer timely project completion, 93% choose improved construction quality, and 72% prefer a well-lit, ventilated home. The report further noted that Indians are increasingly inclined towards larger, more luxurious living spaces. 3BHKs and apartments remained the most preferred choice of residence and property type, with 51% and 58% of respondents opting for them, respectively. Residential plots were also seen gaining traction, particularly in southern India, with 30% of respondents in Chennai, 29% in Bengaluru, and 27% in Hyderabad preferring them. <keyword id="21483825" type="General" weightage="20" keywordseo="home-loan-interest-rates" source="keywords">Home loan interest rates</keyword> also significantly influenced home buying decisions. If the rates are below 8.5%, it would have minimal impact on buying decisions for around 71% of respondents. However, interest rates exceeding 9% would significantly impact 87% of buyers. With the RBI currently deciding to hold off on slashing interest rates in October for the 10th consecutive time, home loan rates are likely to stay elevated in the future. Experts estimate that the RBI will start cutting interest rates early next year.

Real estate continues to dominate India's investment portfolios, shows FICCI report

Deciding whether to rent or buy a home is one of the biggest financial choices most people will make. It’s not a straightforward decision, especially when considering the rapid increase in <keyword id="21530105" type="General" weightage="20" keywordseo="rental-prices" source="keywords">rental prices</keyword> in some of India’s biggest cities. Let’s dive into how the cost of renting has risen compared to buying, and whether it's still worth it to rent or if it’s time to start looking at <keyword id="20879400" type="General" weightage="20" keywordseo="homeownership" source="keywords">homeownership</keyword>. <h2>Soaring renting costs</h2>If you’re renting in cities like Bengaluru, Pune, or Kolkata, you might have noticed something frustrating — your rent seems to keep going up. According to <keyword id="20974307" type="General" weightage="20" keywordseo="ANAROCK-Research" source="keywords" meta.keywordsubtype="org" meta.entityname="ANAROCK Research" meta.hostid="261" meta.entityid="ANAROCK Research">ANAROCK Research</keyword>, in several of India’s top cities, rental prices have jumped significantly, even more than <keyword id="21006188" type="General" weightage="20" keywordseo="property-values" source="keywords">property values</keyword> in some places. For example, in Bengaluru’s Sarjapur Road, average monthly rents shot up by 67% between the end of 2021 and the middle of 2024. If you were paying Rs 21,000 in rent at the end of 2021, that would now be around Rs 35,000 a month! And Bengaluru isn’t the only city where renters are feeling the squeeze. In Pune’s Hinjewadi, rent prices have surged by 52%, while property values went up by just 31%. Similarly, in Kolkata’s EM Bypass, rents rose by 46%, but property prices saw a much smaller bump of 15%. But there are cities where buying makes even more sense because property prices are outpacing rental costs. In Hyderabad’s Gachibowli, for instance, while rent went up by 50%, property values soared by 70%. This trend is also seen in NCR’s Sohna Road, where rents increased by 40%, but property prices grew by 54%. <h2>Is renting really worth it?</h2>Let’s say you’re living in a 2BHK flat in Bengaluru, paying Rs 50,000 a month in rent. It might seem like an okay deal at first, but when you look at the long-term cost, things get tricky. Dr Prashant Thakur, Regional Director &amp; Head of Research at ANAROCK, breaks it down: "One-year payable rent for the individual is Rs 50,000 x 12 = Rs 6,00,000. For the next 10 years, the total rental outgo, including an annual rental increase of 7%, will be around Rs 83 lakh. This rental outgo is almost 69% of the total cost of this property — and this is just an expense with no investment value accrued." <div type="Article" hostid="261" msid="113367496" title="I bought my dream home, but the difficult process and higher cost sometimes make me wish I&amp;#39;d stuck with renting" mstype="2" mssubtype="0"></div>What does that mean? If you keep renting, you’re essentially throwing money out the window without gaining any ownership of the home. While you may have the flexibility that comes with renting, your hard-earned money doesn’t build any long-term value. <h2>Is it time to make the home purchase leap?</h2>So, what if you took the plunge and bought the place instead? Let’s say you’re eyeing a Rs 1.2 crore apartment and can afford to put down a 20% down payment, with the rest coming from a 10-year home loan at 9.5% interest. Dr. Thakur explains, “If the individual opts to buy the property via a home loan, has the financial wherewithal to make a 20% down payment, and borrows the remaining amount over a 10-year tenure at 9.5% interest rate, such a purchase is definitely profitable. Instead of spending a huge amount on rent, the individual can pay monthly EMIs and ultimately own the physical asset after a ten-year period.” With this approach, the monthly EMIs may be slightly higher than what you’re paying in rent, but there’s a key difference — you’re working towards owning your home. After 10 years, the home is yours, and you don’t have to worry about rent going up year after year. <h2>Homeownership isn’t just about the numbers</h2>While the math might lean towards buying, it’s not just about finances. For some people, renting makes more sense, especially if they don’t plan to settle down in one place for a long time. Job mobility, financial stability, and lifestyle choices all factor into this decision. However, something interesting happened during the COVID-19 pandemic. Many people, including millennials who had previously been all about renting, started reconsidering. The pandemic brought a sense of uncertainty, and suddenly, the security of owning a home became much more attractive. Dr. Thakur points out, "Amid a rising aversion to high-risk investments, an increasing number of tenants see rent as an expense, and EMIs as SIPs towards a non-volatile asset." <div type="Article" hostid="261" msid="113395713" title="Welcome to interest-rate cut week: Here&amp;#39;s how the Fed&amp;#39;s next move will impact everything from home prices to new cars loans" mstype="2" mssubtype="0"></div>Plus, home loan interest rates are currently lower, averaging between 8.75% and 9.5%, making homeownership more affordable than it has been in the past few years. And let’s not forget the tax benefits: Homebuyers can avail of deduction on principal repayment, interest charges, and a further deduction of Rs 50,000 for first-home buyers. The answer, as with most things, isn’t black and white. Renting offers flexibility, especially if your job might take you to a new city in a year or two. But with rents rising sharply in cities like Bengaluru, Pune, and Chennai, buying might be a smarter option in the long run. If you’re financially ready to make a down payment and secure a home loan, investing in a home could save you from steep rental hikes and give you the stability of owning a property.

Should you rent or buy a home? Here’s how much rental pricing has gone up compared to ownership cost in major Indian cities

<ul><li><keyword id="6354552" type="General" weightage="20" keywordseo="hyderabad" source="Orion">Hyderabad</keyword>’s luxury home sales zoomed 12x in nine months ended September, as compared to last year.</li><li>Delhi, Mumbai and Hyderabad dominated the luxury home sales market in the first nine months of the year.</li><li>CBRE expects 2023’s festive home sales to hit a three-year high, crossing 1.5 lakh units. </li></ul>India’s top seven cities are showing a strong affinity for luxury homes that are priced around ₹4 crore. The sales of such units grew 97% in the nine months ended 2023, as compared to the same period last year and Hyderabad outdid them all — by showing a whopping 12 times growth in the number of such units sold, as per a report by CBRE. In the first nine months of 2022, 138 units of luxury homes were sold in Hyderabad. In the same period this year, the number zoomed to 1,660. In fact, it’s the third city in the top seven cities list that include Delhi, Mumbai, Kolkata, Pune, Bangalore and Chennai — that recorded sales of over 1,000 such units. In other words, Hyderabad has joined Mumbai and Delhi in dominating this market – accounting for 90% of the total luxury housing sales across the top seven cities. Delhi-NCR topped with a share of about 37%. This was followed by Mumbai, Hyderabad accounting for approximately 35% and 18%, respectively. While Bangalore and Chennai saw little growth, Kolkata is the only city where luxury home sales fell. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">City </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">9M 2023 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">9M 2022 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Delhi -NCR </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3,409 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1,511 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mumbai </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3,252 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2,398 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hyderabad </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1,660 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">138 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Pune </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">332 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">82 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bangalore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">229 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">196 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kolkata </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">235 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">256 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Chennai </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">129 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">108 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">9,246 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4,689 </td></tr></tbody></table>Source: CBRE Festive sales expected to break records The momentum seen in overall home sales this year is expected to seep into this festive season. CBRE anticipates that 2023 festive housing sales are set to break a three-year record, exceeding the 1,50,000-unit mark. "The October-December 2023 quarter is poised to attract a substantial number of first-time buyers, with fence-sitting end-users expected to make decisions during the festive season offers and discounts. The premium and luxury segment is expected to emerge as a sought-after investment avenue, particularly for HNIs and NRIs seeking to safeguard their investments amid global macroeconomic uncertainties,” said Anshuman Magazine, Chairman &amp; CEO - India, South-East Asia, Middle East &amp; Africa, CBRE. Over 80,000 residential units were sold during the July-September ’23 quarter, while new unit launches stood at 72,000 during the same period. Mumbai, Hyderabad and Pune dominated the market for apartment launches, having a cumulative share of 63%. High-end and premium categories remained key sales drivers with a cumulative share of 35%, while the mid-end category’s share stood at 46% during the September quarter. “As the residential cycle matures amidst inflationary pressures, we have witnessed increasing demand in the mid-end and premium categories,” said Magazine.

Hyderabad joins big boys Delhi and Mumbai in love for homes worth ₹4 crore

The <keyword id="19906063" type="General" weightage="100" keywordseo="ipl" source="keywords">IPL</keyword> mega auction 2024 kickstarted at 3 pm today at the Abady Al-Johar arena in Jeddha, Saudi Arabia. It will continue till tomorrow, and viewers can tune into Star Sports network on television and the JioCinema App. A total of 574 players were released by the respective franchise ahead of the mega auction. Of the 574 players, 366 are Indian, while 208 are overseas, including three from associate nations. The auction will see 318 Indian uncapped players and 12 uncapped overseas players in contention. There are 204 slots available, with 70 reserved for overseas players. The highest reserve price is set at Rs 2 crore, with 81 players opting for this bracket. The largest segment comprises players with a base price of Rs 30 lakh, totalling 320. The first set includes <keyword id="19904097" type="General" weightage="20" keywordseo="shreyas-iyer" source="keywords">Shreyas Iyer</keyword>, Rishabh Pant, and Arshdeep Singh, while the second features KL Rahul, <keyword id="20038368" type="General" weightage="20" keywordseo="yuzvendra-chahal" source="keywords">Yuzvendra Chahal</keyword>, Mohammed Shami, and Mohammed Siraj. The overseas marquee players are Mitchell <keyword id="19928915" type="General" weightage="20" keywordseo="starc" source="keywords">Starc</keyword>, Jos Buttler, Liam Livingstone, David Miller, and Kagiso Rabada. Several teams will deploy Right-to-Match (RTM) cards during the auction. The Kolkata Knight Riders (KKR) and Rajasthan Royals (RR), having retained six players each--the maximum allowed--will not have any RTM cards. Punjab Kings (PBKS) hold four RTMs, Royal Challengers Bengaluru (RCB) three, and Delhi Capitals (DC) two. Chennai Super Kings (CSK), Gujarat Titans (GT), Lucknow Super Giants (LSG), and Mumbai Indians (MI) each have one RTM. RTM cards enable teams to buy back released players by matching the highest bid. In this auction, the team with the highest bid can increase their offer once more, after which the team holding the RTM card can match the final bid to secure the player. The IPL 2025 Mega Auction promises to deliver high-stakes action, with marquee players and strategic manoeuvres set to enthral cricket fans. A total of 12 marquee players, including Indian stars like Shreyas Iyer, Rishabh Pant and KL Rahul have created a lot of buzz within the cricket fraternity. A total of 574 players have been shortlisted from an initial pool of 1,574 names. These players will go under the hammer from November 24-25 in Jeddah. The list includes 208 overseas players, 12 uncapped overseas talents, and 318 uncapped Indian players, according to Wisden. Here is a look at all the marquee players who will be going under the hammer: Jos Buttler (England) Buttler is one of finest white-ball batters of this generation, with 11,929 runs, eight centuries and 83 fifties to his name in 427 T20s. A T20 World Cup-winning captain for England, Buttler made a name for himself in the IPL during his stint with Rajasthan Royals (RR) from 2018 to 2024. For RR since 2018, Buttler scored 3,055 runs at an average of 41.84 and a strike rate of 147.79, with 7 centuries and 18 fifties. His best score was 124. He is the team's third-highest run-getter of all time. The IPL 2022, in which RR finished as runners-up, was the zenith of Buttler's career, as he ended up on the top of run-scoring charts, with 863 runs in 17 matches at an average of 57.53 and a strike rate of over 149, with four centuries and four fifties. His best score was 116. In the last season, Buttler scored 359 runs in 11 matches at an average of 39.88, with two centuries. Buttler also represented Mumbai Indians (MI) from 2016-17, scoring 527 runs in 24 matches with one half-century. He won the title with them in 2017. Shreyas Iyer (<keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>) Iyer has played all formats for India, proving his mettle mostly in ODI cricket, where he averages 47 and has scored five centuries and 18 fifties in 57 ODIs. In 51 T20Is for India, Iyer has scored 1,104 runs at an average of 30.66 and a strike rate of over 136, with eight half-centuries and best score of 74*. During his time with Delhi Capitals (2015-21), he earned a reputation as a fierce young leader, taking DC to finals in 2021. After joining Kolkata Knight Riders (KKR) in 2022, Iyer went one step further and won the franchise its third IPL title, its first in 10 years, this year. Throughout the season, Iyer along with mentor Gautam Gambhir, led the team's aggressive, high-scoring brand of cricket from the front. In his IPL career, Iyer has scored 2,375 runs at an average of 31.67, with a strike rate of 123.96 and 16 half-centuries. His best score is 96. In his last season for KKR, he scored 351 runs in 15 matches at an average of 39.00 and a strike rate of over 146, making two fifties. Rishabh Pant (India) The swashbuckling wicketkeeper-batter is an all-format for India and a livewire on the field. Having proven himself as a man for big stages in Test cricket, Pant's T20 game is just as solid. Though he has scored 1,209 runs in 76 T20Is at an underwhelming average of 23.25, strike rate of almost 128 and just three fifties, his overall T20 numbers are way better, having made 5,022 runs in 202 matches at an average of 31.78, strike rate of over 145, with two centuries and 25 fifties. Pant has represented Delhi Capitals (DC) for his entire IPL career since 2016, scoring 3,284 runs in 110 matches at an average of 35.31, with a century and 18 fifties. He was appointed as the team's captain in 2021 and led them to playoffs in the same season. During this last season, which marked his return from competitive cricket after a serious road accident in 2022-end, Pant scored 446 runs in 13 matches at an average of 40.54 and a strike rate of 155.40, with three fifties and best score of 88*. He was the leading run-scorer for DC. Kagiso Rabada (South Africa) The South African pacer is among the best in the world, having taken 71 wickets in 65 T20Is. He is the part of the SA team which reached the T20 World Cup finals this year and took 13 wickets in nine matches. Rabada has played T20 leagues and competitions worldwide and taken 264 scalps in 211 matches. In the IPL, Rabada has represented Delhi Capitals and Punjab Kings, having taken 117 wickets in 80 matches. With PBKS from 2022-2024, he took 41 wickets in 30 matches while with DC from 2017-2021, he took 76 wickets in 50 matches. In 11 matches last season for Punjab Kings, he took 11 wickets at an average of 33.81. Arshdeep Singh (India) A brilliant left-arm pacer for his swing and wicket-taking abilities, Arshdeep has represented India in 59 T20Is and has already taken 92 wickets at an average of 18.47, making him the most successful pacer for India in T20Is and their second-highest wicket-taker of all-time despite debuting only in 2022. The youngster was a crucial part of India's T20 WC winning squad this year and was the joint-highest wicket-taker in the tournament with 17 wickets in eight matches at an average of 12.47. Since 2019, the year of his IPL debut, Arshdeep has represented the Punjab Kings in 65 matches, taking 76 wickets at an average of 27.00 and best figures of 5/32. The season this year was his strongest-ever showing, taking 19 wickets in 14 matches at an average of 26.58. Mitchell Starc (Australia) A multi-time world champion with Australia across all formats, Starc is considered as one of the deadliest pacers of this era, having taken 681 wickets in 281 matches. In 65 T20Is for Australia, he has taken 79 wickets at an average of 23.81. in 142 T20Is played worldwide, he has taken 193 wickets at an average of 20.59 and best figures of 4/15. After two seasons with Royal Challengers Bengaluru (RCB) from 2014-15, Starc made his IPL return this year as the most expensive player ever, brought by Kolkata Knight Riders (KKR) for Rs 24.75 crores. Though he delivered mixed returns during the league stage, the 'Big Match Starc' came into play during playoffs, delivering outstanding spells of 3/34 and 2/14 against <keyword id="19959099" type="General" weightage="20" keywordseo="sunrisers-hyderabad" source="keywords">Sunrisers Hyderabad</keyword> (SRH) in the Qualifier 1 and final. He ended the season with 17 wickets in 14 matches at an average of 26.12 including a four-wicket haul. So far in his IPL career, Starc has taken 51 wickets in 41 matches. Yuzvendra Chahal (India) The Indian spin veteran is the chart-topping bowler, owning the most wickets by an Indian in T20is and by any bowler in the IPL. In the IPL, Chahal has taken 205 wickets in 160 matches at an average of 22.44, with best figures of 5/40. In 80 T20Is he has taken 96 wickets at an average of 25.09 with best figures of 6/25. Also in all of T20s, he has taken 354 wickets in 305 matches, the most by an Indian bowler. Chahal remains the leading wicket-taker for Royal Challengers Bengaluru (RCB), even after departing in 2021 following a tenure that began in 2014. In 113 matches for RCB, he took 139 wickets at an average of 22.03, with a best of 4/25. Since joining Rajasthan Royals (RR) in 2022, Chahal has helped the team reach the playoffs twice in three seasons. He is also the leading wicket-taker in IPL history, amassing 205 wickets in 160 matches at an average of 22.44, with a best of 5/44. He won the Purple Cap in 2022, his debut season with RR, securing 27 wickets in 17 matches at an average of 19.51, with best figures of 5/40. During the 2024 season, he took 18 wickets in 15 matches at an average of 30.33. Liam Livingstone (England) A T20 World Cup-winning all-rounder, Liam has scored 877 runs in 53 T20Is at an average of 27.40 and a strike rate of almost 152, with a century and two fifties. With his useful right-arm spin, he has taken 32 wickets at an average of over 23, with best figures of 3/17. He owns the record for fastest T20I ton by an England player, in just 42 balls. The batting all-rounder has played for Rajasthan Royals (RR) and Punjab Kings (PBKS) since his tournament debut in 2019, scoring 939 runs in 39 matches at a strike rate of 162.46 and six fifties. He has also taken 11 wickets. His best has come with Punjab, who signed him for Rs 11.5 crores ahead of the 2022 season, which proved to be his breakthrough, scoring 437 runs in 14 matches with four fifties and a strike rate of 182.08 and getting six wickets in 14 matches. In the last season, Livingstone scored 111 runs in seven matches at an average of 22.20, striking at over 142 and having the best score of 38*. David Miller (South Africa) An elite T20 finisher, Miller is considered as one of the modern white-ball greats for South Africa. In 128 matches for Proteas, he has made 2,473 runs at an average of 32.54, striking at almost 140, with two centuries and seven fifties. In the IPL, Miller is known for his stints with Punjab Kings, Rajasthan Royals and Gujarat Titans. His stint with Punjab from 2012-19 made him a valuable IPL commodity, as he enjoyed his peak years from 2013-15, reaching the finals in 2014. After a few years' of underwhelming performances and being benched, GT placed trust in his finishing abilities and he repaid the faith with a 481-run season in 16 matches with two fifties, playing a crucial role in the team's title win in his debut season. Miller is also known for his fine performances in knockout games. In 41 matches for GT, he has scored 950 runs at an average of 45.24, with three fifties in 38 innings and a strike rate of 145.26. In the last season, he scored 210 runs at an average of 35.00 and a strike rate of over 151, with a half-century. KL Rahul (India) A versatile batter for India across all formats. He can open, bat in middle-order, anchor and accelerate. A highly capable wicketkeeper-batter as well. He is India's fourth-highest run-getter in T20Is, scoring 2,265 runs in 72 matches at an average of 37.75, striking at almost 140 with two centuries and 22 fifties to his name. In 132 IPL matches since his debut in 2013, KL has played for Sunrisers Hyderabad, Royal Challengers Bengaluru, Punjab Kings and Lucknow Super Giants, even going on to captain the latter two teams. In 132 matches, he has scored 4,683 runs at an average of 45.47 and a strike rate of 134.61, with four centuries and 37 fifties. For LSG since 2022, he has scored 1,410 runs at an average of 41.47, with a strike rate of 130.68, two centuries and 10 fifties. He has never won an IPL title. In 14 matches last season, he scored 520 runs at an average of 37.14 and a strike rate of 136.12 and four half-centuries. His best score was 82 and he ended up as seventh-highest run-getter in the season. Mohammed Shami (India) The Indian pace veteran has represented India in all formats, having taken 448 wickets in 188 matches. His finest hour in an Indian jersey came during the 50-over World Cup at home last year, where he emerged as the leading-wicket-taker with 24 wickets in just seven matches and played a crucial role in India's runners-up finish. In IPL, Shami has played for Delhi Capitals, Punjab Kings, Kolkata Knight Riders and Gujarat Titans. He has taken 127 wickets in 110 matches at an average of 26.86. Shami was the Purple Cap holder for most wickets in GT's 2023 runners-up season and has taken 48 wickets in 33 matches at an average of 21.04 for the team. This also remains his last IPL season as he missed the previous season due to an ankle injury. Mohammed Siraj (India) Siraj is a solid all-format pacer for India, having taken 165 wickets across 91 matches, with a lot of match-winning performances in overseas Tests. He is the ICC T20 World Cup 2024 winner with the team. In his IPL career, he has played for Sunrisers Hyderabad and Royal Challengers Bengaluru (RCB) from his debut in 2017, taking 93 wickets in 93 matches at an average of 30.34. Since 2018, he has been a vital part of RCB's pace attack, having taken 83 wickets in 87 matches at an average of 31.45 and best figures of 4/21. In the last season this year, he took 15 wickets in 14 matches at an average of 33.07, playing a crucial role in the team's inspirational playoffs qualification. (ANI) A total of 1,574 players will go under the hammer in the upcoming IPL 2025 mega auction in Jeddah, Saudi Arabia on Sunday and Monday which includes 1,165 Indian players and 409 overseas players, all competing for a place in the world's premier T20 league. The comprehensive list of registered players features 320 capped players, 1,224 uncapped players, and 30 players from Associate Nations. Specifically, the breakdown includes 48 capped Indian players, 272 capped international players, 152 uncapped Indian players who previously played in IPL seasons, 3 uncapped international players with prior IPL experience, 965 uncapped Indian players, and 104 uncapped international players. Among the 409 overseas players, Australia leads with 76 registrations, followed by South Africa with 91, and England with 52. Other notable countries include New Zealand with 39, West Indies with 33, Afghanistan and Sri Lanka with 29 each, and the USA with 10 players. Players from Bangladesh (13), Ireland (9), Canada (4), Netherlands (12), Zimbabwe (8), Scotland (2), UAE (1), and Italy (1) have also registered. With each of the ten IPL franchises able to fill a maximum squad of 25 players, 204 slots will be available at the IPL 2025 player auction. The event promises to be highly competitive as teams build their rosters for the next three years.

IPL 2025: What can you expect from the mega auction at Jeddah in Saudi Arabia?

<ul><li>Delhi-NCR’s luxury unit sales saw the highest surge registering a 197% YoY increase.</li><li><keyword id="19897309" type="General" weightage="20" keywordseo="pune" source="keywords">Pune</keyword> came a close second as its luxury home sales surged by 144% in the December quarter.</li><li>Mumbai and <keyword id="19900176" type="General" weightage="20" keywordseo="hyderabad" source="keywords">Hyderabad</keyword> also saw a double digit growth in luxury home sales. </li></ul>Size does matter for Indian real estate buyers. Across India’s top seven cities, sales of luxury homes (that cost over ₹4 crore), went up by 75% YoY in the December quarter, says CBRE. But two cities stood out. Delhi-NCR’s luxury unit sales saw the highest surge registering a 197% YoY increase, while Pune too came close by with a sharp 144% rise. Hyderabad and Mumbai also saw a double digit increase by 64% and 23.5% respectively, as per data by CBRE. "A 75% surge in luxury unit sales and a substantial 45% rise in launches underscore the sector’s vibrancy. The evolving market dynamics, especially in key cities like Delhi-NCR, Mumbai, Pune, Hyderabad, and <keyword id="19940209" type="General" weightage="20" keywordseo="bangalore" source="keywords">Bangalore</keyword>, reflect a nuanced demand for high-end residences,” said Anshuman Magazine, Chairman &amp; CEO - India, South-East Asia, Middle East &amp; Africa, CBRE. Bangalore, Chennai and <keyword id="19896626" type="General" weightage="20" keywordseo="kolkata" source="keywords">Kolkata</keyword> saw a flat growth in luxury home sales in the quarter ending December. The percentage share of the luxury segment in the overall residential unit sales stood at 4% in 2023, nearly doubling its proportion of 2% in 2022. “This surge further signals the growing appetite of High Net Worth Individuals (HNIs) for luxury real estate investments, spurred by their aspirations for a refined lifestyle, the need for portfolio diversification, and the desire to preserve wealth over time. Luxury residential remains a cornerstone of their investment strategy, promising not just financial returns but also a legacy of prestige and prosperity for generations to come," says Reeza <keyword id="20584281" type="General" weightage="20" keywordseo="sebastian" source="keywords">Sebastian</keyword>, executive president - Residential, Embassy Group Mumbai, Pune rule home sales In the October to December quarter, overall 86,000 residential units were sold, and 90,000 units were launched. In Q3, new unit launches recorded around 22% YoY increase and about 26% growth on a quarterly basis. Premium and luxury segments accounted for about 10% and 4% shares, respectively, during this period. Pune recorded the highest residential sales overall during the quarter with a 24% share, followed by Mumbai with about 21% share. Delhi-NCR and Hyderabad accounted for about 17% and 15% of the market, respectively. Mumbai also took the lead with a 27.5% share in new launches, closely followed by Hyderabad with 26.9%, and Pune with 19%. For 2023, the overall residential sales across price categories exceeded 3.22 lakh units in 2023, registering a 9% YoY growth. Sustained momentum in demand also led developers to launch over 3.13 lakh new housing units in 2023, a 6% YoY increase. Mid-end projects emerged as the leading category driving sales, recording a 45% share in total sales for 2023, followed by high-end and affordable projects. Pune, Mumbai and Bangalore cumulatively accounted for 61% of the total sales. Unit launches in Mumbai, Pune, and Hyderabad, on the other hand, accounted for a 67% share during 2023.

Luxury homes in vogue and Delhi, Pune are in top gear

<div type="image" title="Indians are getting fancy, and they don&amp;#39;t mind paying a little extra if it means quality and luxury. Most consumer brands are witnessing an uptick in their premium product segment" msid="115018213" hostid="261" caption="&amp;lt;p&amp;gt;Indians are getting fancy, and they don&amp;#39;t mind paying a little extra if it means quality and luxury. Most consumer brands are witnessing an uptick in their premium product segment&amp;lt;/p&amp;gt;"></div> It's time to move over from plain, vanilla budget basics! Indians are no longer looking for “best purchases and value buys under Rs 1,000”—at least not as much as before. <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>'s getting fancy, and how! From gold-flaked chocolates to swanky SUVs that look like they’re wheeled straight out of a Bollywood blockbuster, Indian companies are rapidly jazzing up their product lines, even faster than you can say the word "premiumization." But what does this mean for Indian companies and consumers? What is this jazz about premiumization all about? Is it just urban India that’s riding this wave, or has rural India also joined the bandwagon? We decode for you. <h2>What's premium, really?</h2>Imagine you’re eating Pav Bhaji at a roadside thela. Later during the day, you decide to dine out at a fancy, upmarket cafe, only to find Pav Bhaji Fondue on the menu. Same same, but much more expensive—often 5 to 10 times higher—for a little more hygiene and some better ambience! Think of premium products as this fondue. They are a notch up your regular, daily-use products soaps or shampoos, and even cars, all packaged luxuriously, offering just about the right touch of quality. The main differentiator, though, would be the price range. <h2>Driving home premium wellness</h2>A recent report by Nielsen suggests that over 70% of urban Indians are okay with paying a premium for their products. And companies are cashing in on this sentiment like never before. This explains why 58% of new products launched so far this year have been in the premium+ segment, as opposed to just 38% of new launches in regular, traditional trade. Take cars, for instance. Indians are no longer vying for a good old <keyword id="19950117" type="General" weightage="20" keywordseo="maruti" source="keywords">Maruti</keyword> 800 or <keyword id="20400567" type="General" weightage="20" keywordseo="alto" source="keywords">Alto</keyword>, traditionally known for their healthy mileage, but are rather happy investing in more swanky features that come along with high-end cars. In October 2024, India’s largest car manufacturer, <keyword id="19909974" type="General" weightage="20" keywordseo="maruti-suzuki" source="keywords">Maruti Suzuki</keyword>, sold 65,948 units of its compact cars like Swift, WagonR, Dzire, and more. Compared to the year-ago period, which saw sales of 80,662 units, this was an 18% dip. But take a look at their SUV (sport utility vehicle) sales for the same period. Cars like Brezza, Ertiga, and Grand Vitara sold about 70,644 units, a 19% uptick from the sales made in October 2023, i.e. 59,147 units. Simply put, when it comes to cars, Indians are saying the bigger, the better! The same is true for India's second biggest automobile manufacturer, Hyundai. Its SUV lineup made up a staggering 68.2% of the firm's total sales made for October 2024. What's more, SUV demand remained largely consistent across urban and rural markets. <h2>Consumers are inching up</h2>FMCG (fast-moving consumer goods) are also riding the premiumization wave, with Indians prioritizing their health and wellness and not bothered about dishing out a few extra bucks for the same! You’ll find no dearth of words like organic, vegan, gluten-free, and sugar-free, peppered generously over every product you’ll see today, be it soaps, juices, or more. No wonder then, sales from premium segments in 2024 make up around 27% of all FMCG sales and even contribute a massive 42% to the sector’s value growth in India. Nielsen report further adds that luxury brands that position themselves at twice the price of their category’s average are even witnessing stellar growth. In fact, for most FMCG brands like Tata Consumer Products, <keyword id="20002610" type="General" weightage="20" keywordseo="hindustan-unilever" source="keywords">Hindustan Unilever</keyword> (HUL), Dabur, and Nestle, it is this premium segment that is growing much faster than their regular ones. And it's not just about daily-use products; Indians are also taking their celebrations a step over. Spirits manufacturer <keyword id="20125704" type="General" weightage="20" keywordseo="radico-khaitan" source="keywords">Radico Khaitan</keyword> highlighted that for the first half of 2024, their prestige &amp; above segment made for 88.4% of its net sales value. In the same period, the regular popular segment accounted for just 9.1% of their net sales. From Hindustan Unilever, which saw its premium products grow 30% over the last quarter, to <keyword id="20521971" type="General" weightage="20" keywordseo="kingfisher" source="keywords">Kingfisher</keyword> beer's parent company, <keyword id="20124009" type="General" weightage="20" keywordseo="united-breweries" source="keywords">United Breweries</keyword>, whose premium product sales volume jumped by 27% during the quarter as opposed to just a 5% rise in overall volumes, everyone is seemingly taking their lifestyle a notch above. Per the Nielsen report, in 2024, a typical global consumer spends about $13.7k per year. This is set to grow by around 2.4% to $14k as early as next year. Even a report by Goldman Sachs also highlighted a similar trend, noting that India’s affluent class, or those earning over $10,000 (Rs 8,42,694.97), is set to reach 100 million in the next 3 years. And where will this consumer spend? On premium products! <h2>Online shopping shifts from mass to class</h2>Amazon’s Great Indian Shopping Festival, which was live between September 27 and October 29 this year, saw 140 crore customers, more than 85% of whom came from non-metro Indian cities. On the site, there was a 400% spike in sales in premium sales across categories like watches, fragrances, handbags, jewelry, and more. Rival <keyword id="19896939" type="General" weightage="20" keywordseo="flipkart" source="keywords">Flipkart</keyword> noted a similar trend, recording 1.8x growth in premium beauty and personal care products during the first half of this year. <h2>Dialing in premiumness</h2>The Indian smartphone ecosystem has always been dominated by basic phones, or those entry- and mid-range phones that are priced between Rs 10,000 and Rs 6,000. But that has changed in recent times, with premium smartphones (i.e., those priced over Rs 60,000) registering 20%+ growth in 2024. During the first quarter of this year, sales of mass phones (priced between Rs 10,000 and 20,000) reached 44%, compared to 51% in the year-ago period. But it's all sunny and shiny in the mid-premium (priced between Rs 40,000 and Rs 60,000) and super-premium segments (priced above Rs 60,000). Sales growth has burgeoned by as much as 27% and 86% in these categories, respectively. As India continues its march toward becoming the world's third-largest economy by 2027, the premium party is just getting started. Industry experts predict that premium segments will grow faster than you can say "sustainable organic handcrafted artisanal batch of coffee." So the next time you see someone dropping serious rupees on a fancy bottle of black water that also somehow plays music and tracks their hydration (yes, that's a thing), remember: This is just the trailer. Picture abhi baaki hai, mere dost! Do you have a topic in mind you'd want a simpler explanation for, or insights or experiences to share on personal finance and more? Contact us at businessinsider@timesinternet.in.

Simply Put: From Dal to Dolce—India is loving its luxury life

<ul><li>In 2018, luxury home prices in the top seven cities averaged around ₹12,400 per <keyword id="1390002" type="General" weightage="20" keywordseo="square-foot" source="Orion">square foot</keyword>, which has now escalated to approximately ₹15,350 per square foot. </li><li>Bengaluru and Mumbai Metropolitan Region (MMR) followed Hyderabad closely with a 27% average price increase each. </li><li>Affordable homes priced below ₹40 lakh experienced a more modest 15% price appreciation during the same period.</li></ul>The <keyword id="386983" type="General" weightage="20" keywordseo="luxury-homes" source="Orion">luxury homes</keyword> segment, which pre-pandemic was in a lacklustre state, received a remarkable boost during the lockdown period resulting in substantial growth in <keyword id="6357824" type="General" weightage="20" keywordseo="sales" source="Orion">sales</keyword> and thus new supply being added. With demand surging, it was only a matter of time before prices caught up. An analysis of average <keyword id="2116392" type="General" weightage="20" keywordseo="price-trends" source="Orion">price trends</keyword> across the top seven cities in different budget categories, based on ANAROCK Research data, reveals that luxury homes have seen the most significant price appreciation at 24% over the past five years. In 2018, luxury home prices in these cities (Delhi-National Capital Region (NCR), Mumbai Metropolitan Region, Chennai, Kolkata, Bengaluru, Hyderabad and Pune) averaged around ₹12,400 per square foot, which has now escalated to approximately ₹15,350 per square foot. <cmsannotation type="cmsannotation" annotationid="Hyderabad sees significant rise, followed by Bengaluru" comment="subhead" text="Hyderabad sees significant rise, followed by Bengaluru">Hyderabad sees significant rise, followed by Bengaluru</cmsannotation> Among the top seven cities, Hyderabad witnessed the most substantial leap of 42% in the average price of luxury homes during this period, rising from around ₹7,450 per square foot in 2018 to about ₹10,580 per square foot in the first half of 2023. Bengaluru and Mumbai Metropolitan Region (MMR) followed closely with a 27% average price increase each. In Bengaluru, the average price of luxury homes was ₹10,210 per square foot in 2018, which has now risen to ₹12,970 per square foot. In MMR, homes in the ₹1.5 crore category had an average price of ₹23,119 per square foot in 2018, which has now reached ₹29,260 per square foot. <cmsannotation type="cmsannotation" annotationid="Affordable homes experience a more muted rise" comment="subhead" text="Affordable homes experience a more muted rise">Affordable homes experience a more muted rise</cmsannotation> Contrastingly, the affordable segment - which was on a high before Covid-19 - saw compromised sales that also reflected in its average price growth. Affordable homes priced below ₹40 lakh experienced a more modest 15% price appreciation during the same period. The average price in this category across the top 7 cities was ₹3,750 per square foot in 2018, and it now stands at ₹4,310 per square foot. NCR witnessed the most significant average price increase in this category at 19%, going from ₹3,120 per square foot in 2018 to ₹3,700 per square foot in H1 2023. Hyderabad's budget homes came in second with a 16% price appreciation, rising from ₹3,460 per square foot in 2018 to ₹4,000 per square foot in H1 2023. Anuj Puri, Chairman - ANAROCK Group, says, "Extremely robust sales ably supported by good supply pipeline have resulted in luxury homes witnessing the most significant price appreciation. Considering the relative price stagnation in this segment in earlier years, a 24% increase over the last five years is notable. In the pre-pandemic period in 2019, sales in this segment were anything but stellar and this reflected in non-existent or negligible price growth." <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td colspan="4" style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;background-color:#ffffff;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Avg. Price Appreciation in Top 7 Cities (₹/sq.ft.) - 2018 Vs 2023 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Year </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Affordable (&lt;₹40 Lakh) </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mid &amp; Premium (₹40 lakh - ₹1.5 Cr) </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Luxury (&gt; ₹1.5 Cr) </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">2018 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">3,750 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">6,050 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">12,400 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">2023 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">4,310 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">7,120 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">15,350 </td></tr></tbody><tbody></tbody><tbody></tbody></table>

Hyderabad leads spike in luxury home prices – top 7 cities see 24% price rise in five years

<ul class="summary-list"><li>Even celebrities and ultrawealthy homeowners can face challenges selling their homes.</li><li>Take the socialite Sonja Morgan — the starting bid for her NYC home is a fraction of its purchase price.</li></ul>The world of luxury real estate may seem like a place where deals are plentiful, transactions are swift, and satisfaction is guaranteed.But that isn't always true, especially in New York City, where a slowdown in demand has made selling multimillion-dollar condos and townhouses more challenging, as Kenny Lee, a senior economist at <a target="_blank" href="https://streeteasy.com/blog/buyers-will-see-more-opportunities-as-affordability-improves/">StreetEasy</a>, told Business Insider.In many of NYC's upscale neighborhoods, homes are lingering on the market longer and <a target="_blank" href="https://www.mansionglobal.com/articles/luxury-home-sales-in-manhattan-fell-during-the-first-quarter-as-prices-continued-to-tick-up-551c5d6e">sales are falling</a>, signaling that when it comes to a slump in the real-estate market — not even the nation's wealthiest Americans can walk away unscathed.Consider the case of <a target="_blank" href="https://www.businessinsider.com/luann-de-lesseps-sonja-morgan-rhony-legacy-response-spinoff-crappie-lake-2023-7">Sonja Morgan</a>, the ex-wife of John Adams Morgan, a great-grandson of the founder of J.P. Morgan &amp; Co. Despite Morgan's socialite status and her home's location on the posh Upper East Side, she's struggled to sell the five-story, six-bathroom brownstone.Morgan, a star of Bravo's "Real Housewives of New York," has owned the home at 162 E. 63rd St. for 27 years, living there on and off. Since around 2008, she has made numerous attempts to sell it but has failed to attract any serious buyers.<a target="_blank" href="https://www.curbed.com/article/sonja-morgan-real-housewife-townhouse-auction.html">Curbed</a>'s Bridget Read wrote that now, after years of listing and delisting the property, Morgan had opted to auction it with a starting bid of $1.75 million, far below its reported purchase price of $9.1 million in 1997."I want to be free to garden and travel and not have to worry about the house — but I'm not taking nothing," Morgan told Curbed.Bidding opened with <a target="_blank" href="https://www.conciergeauctions.com/auctions/162-east-63rd-street-new-york-new-york">Concierge Auctions</a> on May 16 and is set to remain open until May 29. As of May 24, the highest bid was $4.25 million.<h2 id="22e0385d-c59a-4947-95fe-3ce2e3577ae4">Even the ultrawealthy lose in the game of real estate</h2>Luxury-real-estate shows, such as "<a target="_blank" href="https://www.businessinsider.com/kirsten-jordan-million-dollar-listing-new-york-broker-schedule-2021-10">Million Dollar Listing</a>" and "<a target="_blank" href="https://www.businessinsider.com/get-job-with-mauricio-umansky-at-best-selling-the-agency-2022-6">Buying Beverly Hills</a>," often portray the selling of high-end homes as effortless. But even with an elite ZIP code and the pedigree of a famous or rich seller, sealing the deal can still prove difficult. <a target="_blank" href="https://www.sportbible.com/nba/michael-jordan-nba-basketball-mansion-listed-sale-336778-20240201">Michael Jordan</a>, for example, has been unable to sell his mansion outside Chicago for more than 11 years.There's also the 105,000-square-foot <a target="_blank" href="https://www.businessinsider.com/photos-225-million-mansion-the-one-biggest-modern-home-us-2021-9#the-property-which-was-10-years-in-the-making-came-from-film-producer-turned-real-estate-developer-nile-niami-5">mega-mansion in Los Angeles</a> developed by the former film producer Nile Niami. Following 10 years of construction, the home languished on the market without attracting a buyer. It was later placed into court-ordered receivership and subsequently entered bankruptcy proceedings. Finally, it was auctioned off for $126 million to the billionaire CEO of Fashion Nova, <a target="_blank" rel="" href="https://www.businessinsider.com/fashion-nova-richard-saghianbillionaire-biggest-modern-home-one-2022-3">Richard Saghian</a>, in 2022.The crux of the issue is that the more expensive a home is, the fewer potential buyers it has — it's a troublesome scenario amid <a target="_blank" href="https://www.businessinsider.com/home-prices-decline-in-texas-housing-market-shifts-favors-buyers-2024-5">slowing buyer demand</a> and <a target="_blank" href="https://www.businessinsider.com/inflation-cost-of-living-what-is-middle-class-housing-market-2024-4">growing economic uncertainty</a>. The lack of demand from traditional buyers has led to an increasing number of ultrawealthy homeowners, including the entrepreneur <a target="_blank" href="https://www.bloomberg.com/news/articles/2023-11-11/los-angeles-mansion-owners-test-150-000-rents-as-sales-slump">Rob DeSantis</a>, renting out their homes or <a target="_blank" href="https://www.bloomberg.com/news/articles/2016-09-16/why-do-wealthy-people-auction-multimillion-dollar-homes-rather-than-list-them">auctioning them off</a> rather than waiting around for buyers."A lot of luxury buyers may already have a primary home, so maybe they're looking for a new investment," StreetEasy's Lee said. "For that reason, even though they are generally less affected by high mortgage rates, they are heavily influenced by the general economic outlook."He said that was partly why more luxury buyers were increasingly considering renting out their homes rather than selling them.<h2 id="c490f200-60d3-4b6c-9908-890502c4562d">Custom features added by sellers and maintenance costs can also put off buyers</h2>One person's dream renovation could be the next person's nightmare.Lee pointed out another obstacle for luxury homeowners: their inclination to elaborately customize their homes with features that may or may not be appealing to the average buyer."A lot of houses and apartments in New York City were built before the war," Lee said. "It's also for that reason, it's common for a lot of owners to go through renovations, to make it more livable and more to their own taste."In addition to a koi pond in the garden, the Morgans also installed a large nautical star in the entryway on the ground floor during a $3 million renovation, Curbed reported.<div type="image" title="The entry way of Sonja Morgan's Upper Eastside brownstone." height="1367" width="2048" msid="110505086" hostid="261"></div>Lee said another factor contributing to the difficulty of selling luxury properties was the high costs associated with their maintenance and upkeep.Morgan's townhouse carries estimated monthly property taxes of $6,003, according to the <a target="_blank" href="https://streeteasy.com/building/162-east-63-street-new_york/th?showcase=1">StreetEasy listing</a>. This figure doesn't include additional expenses that come with owning a townhouse such as insurance, repairs, upgrades, landscaping, and more.Morgan told Curbed she was ready to be rid of it all."I don't want anyone to think, 'New York is done, and that's why she's leaving,'" Morgan said. "I'll always be a New Yorker. I just don't need all this."Correction: May 28, 2024 — Because of an editing error, an earlier version of this story misidentified the entrepreneur Rob DeSantis as Gov. Ron DeSantis of Florida. Also because of an editing error, a photo caption in the story misstated the starting bid of Sonja Morgan's home. It was $1.75 million, not $1.75.

You Searched For "hyderabad luxury home price" and got 9 results

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