Despite 13% drop in H1 sales, Q2 2025 records 7% quarterly growth, driven by premium demand
India’s residential market is witnessing a clear shift in consumer preferences toward premium housing, with homes priced above ₹1 crore now forming 62% of all housing sales in H1 2025, according to JLL’s latest Residential Market Update.
Despite a 13% year-on-year (Y-o-Y) dip in H1 sales volumes, the second quarter (Q2) of 2025 posted a 7% rise in quarterly sales, reaching 69,530 units, signaling a strong mid-year rebound. The ₹3–5 crore and ₹5 crore+ categories emerged as fastest-growing segments, outpacing demand in the mass market.
📊 India Residential Market Overview – H1 2025
| Metric | Value |
|---|---|
| Total H1 2025 Sales | 134,776 units |
| Q2 2025 Sales | 69,530 units |
| Y-o-Y Change (H1) | -13% |
| Q-o-Q Change (Q2) | +7% |
| Share of Homes > ₹1 Cr | 62% (up from 51%) |
| Sub-₹1 Cr Share | 38% (down from 49%) |
| Share of ₹3–5 Cr Segment | 10% |
| Share of ₹5 Cr+ Segment | 6% |
| Sales from New Launches (Q2) | 29% (highest post-pandemic) |
💸 Ticket Size Break-up: H1 2025 vs H1 2024
| Price Band | H1 2025 Units | Y-o-Y Growth | % Share (H1 2025) | % Share (H1 2024) |
|---|---|---|---|---|
| < ₹50 Lakh | 13,131 | -37% | 10% | 14% |
| ₹50L – 1 Cr | 38,673 | -40% | 28% | 35% |
| Sub-₹1 Cr Total | 51,804 | -32% | 38% | 49% |
| ₹1–1.5 Cr | 29,099 | 0% | 22% | 19% |
| ₹1.5–3 Cr | 32,327 | +8% | 24% | 19% |
| ₹3–5 Cr | 13,576 | +14% | 10% | 8% |
| > ₹5 Cr | 7,970 | +8% | 6% | 5% |
| ₹1 Cr+ Total | 82,972 | +6% | 62% | 51% |
🏙️ City-wise Residential Sales – H1 2025
| City | H1 2025 Sales (Units) | Q2 2025 | Q1 2025 | Y-o-Y Change |
|---|---|---|---|---|
| Bengaluru | 30,185 | 14,845 | 15,340 | -15% |
| Mumbai | 28,770 | 13,890 | 14,880 | -15% |
| Pune | 26,406 | 13,514 | 12,892 | -4% |
| Delhi NCR | 19,321 | 11,031 | 8,290 | -23% |
| Hyderabad | 16,582 | 8,668 | 7,914 | -6% |
| Chennai | 6,765 | 4,117 | 2,648 | +15% |
| Kolkata | 6,747 | 3,465 | 3,282 | -29% |
| Total – India | 134,776 | 69,530 | 65,246 | -13% |
🏗️ New Launches: H1 2025
Despite slower overall launch momentum, premium housing launches surged, particularly in Chennai, Kolkata, and Bengaluru.
| City | H1 2025 Launches | Q2 2025 | Y-o-Y Growth |
|---|---|---|---|
| Bengaluru | 34,551 | 14,067 | +19% |
| Chennai | 12,033 | 6,616 | +35% |
| Kolkata | 9,000 | 3,615 | +105% |
| Delhi NCR | 21,733 | 13,414 | -7% |
| Mumbai | 28,508 | 13,217 | -22% |
| Pune | 28,145 | 13,271 | +7% |
| India Total | 154,086 | 74,239 | -3% |
💹 Capital Value Growth – Q2 2025
| City | Y-o-Y Price Growth (%) |
|---|---|
| Delhi NCR | 17% |
| Bengaluru | 14% |
| Chennai | 10%+ |
| Mumbai, Pune, Hyderabad, Kolkata | 5–9% |
🧠 Expert Insights
“The steady growth in luxury home sales indicates rising buyer affluence and a focus on value-driven transactions. While sales in the ₹1 Cr+ category grew 6%, sub-₹1 Cr homes dropped 32% year-on-year.”
— Dr. Samantak Das, Chief Economist and Head of Research, JLL India
“Despite fewer launches, developers are aligning with premium demand. Launches of ₹1 Cr+ homes more than doubled YoY. Cities like Chennai and Kolkata led this transition.”
— Siva Krishnan, Head – Residential Services, JLL India
🔮 Outlook: Value, Affordability & Premiumization
The combination of a likely repo rate cut, easing inflation, and growing urban affluence is expected to support sustained growth in India’s housing market. While price appreciation may moderate, especially in the premium segment, demand for well-located, high-value homes remains resilient, particularly in Mumbai, Bengaluru, Pune, and Delhi NCR.
Also Read: Luxury Housing Unsold Stock Rises 10%.
