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Below the Comment on Anarock Report Mr Ashwin Chadha, CEO, India Sotheby's International Realty

The surge in new opportunities in various sectors like global manufacturing in India, rising exports, and a robust startup ecosystem has strengthened economic momentum and contributed to wealth creation in the country. This, in turn, has led to an increase in the number of wealthy individuals in India, with the noteworthy trend of a declining average age among billionaires. The emerging generation of young and affluent individuals are investing their wealth in ultra-luxury properties. Even celebrities like Alia Bhatt and Suhana Khan have invested in flats and a farmland respectively.

Subsequently, old and traditional business families are showing a willingness to invest in expansive ultra-luxury properties, resulting in a notable uptick in both demand and transactions within this segment.

As the number of billionaires in India is projected to grow significantly, over 100% growth by 2027, the demand for ultra-luxury properties is anticipated to sustain its upward trajectory.

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