Why are India's ultra-rich preferring Gurugram over Mumbai for their homes
India Today
Mumbai recorded ultra-luxury home sales worth Rs 24,120 crore during the calendar year. This is the highest ever value achieved by any Indian city in this segment.
Gurugram has overtaken Mumbai to become India’s largest market for homes priced at Rs 10 crore and above in 2025.
According to the High-End Luxury Housing Report by India Sotheby’s International Realty and CRE Matrix, the city recorded ultra-luxury home sales worth Rs 24,120 crore during the calendar year.
This is the highest ever value achieved by any Indian city in this segment.
The shift has raised a key question. Why are India’s ultra-rich choosing Gurugram over Mumbai, long seen as the country’s most prestigious property market?
Gurugram is often criticised for waterlogging, traffic jams and civic issues during the monsoon. Yet demand at the top end remains strong.
Prasun Kumar, CMO, Magicbricks, said buying decisions in the ultra-luxury segment are driven more by long-term economic factors than by seasonal infrastructure problems.
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