In India’s rapidly expanding real estate market, luxury villas are emerging as a prime investment opportunity, offering substantial returns and a touch of upscale living. Data from Magicbricks, India’s leading property site, paints a compelling picture of villa appreciation in 2024, attracting the attention of savvy investors nationwide.
The data showed that several key cities have witnessed remarkable growth in villa prices, outpacing the appreciation seen in traditional apartments. Navi Mumbai leads the pack with an astounding 55.7 per cent year-on-year (YoY) increase. Greater Noida and Noida also demonstrate robust growth, with villa prices surging by 50 per cent and 40 per cent, respectively.
This upward trend isn’t confined to just a few metropolitan areas. A broader analysis reveals a nationwide phenomenon, with villas appreciating significantly in value across various regions.
According to the data, villa prices jumped in 2024 in cities such as Navi Mumbai (55.7 per cent), Greater Noida (50 per cent), and Noida (40 per cent).
Between October and December 2024, the average price of a villa in Greater Noida reached ₹13,500 per square feet compared with ₹8,900 for multi-story apartments.
Similarly, in Noida, villas averaged ₹19,600 per square feet, while multi-story apartments averaged ₹11,000 per square feet.
Magicbricks data further reveals the percentage change in the average price of villas between October and December 2024 across several cities.
In Ahmedabad, prices rose 4.3 per cent on a quarterly basis and 13.2 per cent annually. They were 2.3 per cent quarterly and 23.6 per cent annually in Bengaluru, and 2.4 per cent and 28 per cent, respectively, in Chennai.
The prices in Greater Noida rose 11.6 per cent quarterly and 50 per cent annually,
and 3.1 per cent and 20 per cent, respectively, in Gurgaon.
There was no price increase quarterly in Hyderabad and a 6.9 per cent rise annually.
In Calcutta, the rise was 19.7 per cent quarterly and 13.8 per cent annually.
In Mumbai they were 0.9 per cent, quarterly, and 24.3 per cent, annually, and 1.3 per cent quarterly and 55.7 per cent annually in Navi Mumbai.