Why ₹1 crore is no longer a luxury home budget
Rising real estate prices in major Indian cities have redefined the perception of a ₹1 crore budget, which is no longer considered a luxury threshold. Buyers are increasingly forced to compromise on square footage and location as property values have surged by up to 90% in some markets since 2019.
Why it matters
The shift reflects broader economic trends in urban housing affordability and the impact of infrastructure-led development on middle-class living standards.
Numaysh Sugathan, a project manager based in Bengaluru, recently bought a house worth a crore in the city. She felt that a premium apartment, which would usually be around ₹75 lakh to ₹1 crore, wasn’t a big budget anymore.
“One crore today does not feel like a luxury budget. In many places, it is almost the bare minimum you need for a decent 2 BHK,” Sugathan says, adding that she went in dreaming of a 3 BHK, but had to settle for a 2.5 BHK because each extra square foot and better location came with a huge jump in price.
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