India's Luxury Home Market Hits a Snag: Too Many Expensive Houses, Not Enough Buyers

India's richest buyers are cooling on luxury homes—those priced above 10 million rupees. Unsold inventory is piling up, mirroring what happened in China after 2021: prices stayed high on paper while buyers vanished and deals dried up. For investors in Indian property companies, the gap between what prices say and what's actually selling remains a real risk.