Why ₹1 crore is no longer a luxury home budget
Rising real estate prices across major Indian cities have made a ₹1 crore budget insufficient for luxury housing, with many buyers now forced to settle for smaller units or less desirable locations. This trend is affecting both metropolitan hubs and tier-2 cities as infrastructure expansion drives up land values.
Why it matters
The shift in housing affordability reflects broader inflationary pressures and urban development challenges in the Indian real estate market.
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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