An ultra-luxurious apartment, estimated at Rs 500 crore, is poised to become one of India's most expensive homes. This exclusive residence is part of a larger trend of increasing demand for super-premium real estate, fueled by the growing population of global billionaires and ultra-wealthy individuals.
Sunteck Realty Ltd has announced its foray into the ultra-luxury housing market with plans to launch two marquee projects in Mumbai and Dubai by June 2026, aiming to generate an estimated revenue of ₹20,000 crore. The project in Mumbai is located on Nepeansea Road, one of India's most exclusive addresses, while the Dubai project will be situated in Downtown, near the Burj Khalifa community. This Dubai launch marks Sunteck's first venture outside India.
These projects will be developed under a newly created, "by-invite-only" real estate lifestyle brand named 'Emaance,' derived from a fusion of the words "Immense" and "Indulgence". Sunteck Realty CMD Kamal Khetan stated that each apartment under the Emaance brand will be priced at no less than ₹100 crore, with some units reaching as high as ₹500 crore. The residences are expected to cost upwards of ₹2.5 lakh per sq. ft, making them among the priciest in India.
Sunteck Realty aims to capitalize on the growing demand for high-end residences, with these two projects having a combined gross development value of around ₹20,000 crore. The company already possesses the necessary land for both ventures.
This move by Sunteck Realty positions them among a select group of Indian developers catering exclusively to the ultra-rich, both domestically and internationally. The company currently has a portfolio of 52.5 million sq. ft across 32 projects. In the April-June quarter of FY26, Sunteck reported a 47% rise in consolidated net profit to ₹33.43 crore, compared to ₹22.78 crore a year ago, even as total income fell to ₹201.53 crore from ₹328.01 crore in the same period of the previous fiscal.
The launch of these ultra-luxury projects comes at a time when India's luxury housing market is experiencing significant growth. In 2024, 59 ultra-luxury homes were sold across the top seven cities in India for a collective sales value of approximately ₹4,754 crore. Mumbai accounted for the majority of these deals, with 52 transactions. This reflects an increase compared to 2023, which saw 58 ultra-luxury homes sold for a total sales value of around ₹4,063 crore.
The increasing sales and value of ultra-luxury homes highlight the sustained demand for such properties among high-net-worth individuals (HNIs) and ultra-HNIs, who purchase these residences for personal use, investment, or both. Despite rising home prices nationwide, the ultra-luxury segment continues to thrive.
