₹100-crore income club quadruples in 5 years. What it means for the luxury housing market

The number of taxpayers reporting annual incomes over ₹100 crore rose to a record 576 in Assessment Year 2025-26, four times the 142 reported five years ago.

The expanding ultra-high-income base is widening the buyer pool for luxury homes priced ₹5 crore to ₹15 crore.

Purchases of ₹20 crore-plus homes, especially above ₹100 crore, are driven by wealth creation events like IPO windfalls, promoter stake sales, and capital market gains, not recurring income.

Shobhit Agarwal, CEO of ANAROCK Capital, said the ultra-luxury real estate boom is fueled by IPO-led wealth and a buoyant stock market.