The Indian residential real estate sector continued its upward trajectory in Q4 2024 (October-December), with a 12.7% year-on-year (YoY) growth in supply across 13 major markets, according to the latest Magicbricks PropIndex Report. The growth was spearheaded by Bengaluru, which recorded a 56.1% YoY surge, and Gurugram, with a 44.1% YoY rise.

Premium Segment Gains Momentum

The luxury segment emerged as a key driver of growth, contributing 52% of the total new supply, up from 38% in Q4 2023. This marks a 14.4% YoY increase in premium property supply, indicating rising investor activity and demand for high-end residential units.

Under-Construction Properties Dominate Supply

The supply of under-construction properties surged 10.97% quarter-on-quarter (QoQ), with Gurugram (30.97%), Kolkata (27.80%), and Bengaluru (27.39%) leading the growth. However, the supply of Ready-to-Move (RTM) properties saw minimal growth at 0.03% QoQ, reflecting a steady uptake of completed inventory.

Rising Residential Prices

Residential prices across the 13 markets saw a robust 22.7% YoY increase, driven by cities like Greater Noida (42.5%), Noida (42.4%), and Gurugram (35%). This significant capital appreciation underscores strong market confidence and highlights the sustained demand in these key regions.

Demand Stabilizes

The report also noted a 6.6% YoY increase in residential demand, signaling signs of stabilization. Ahmedabad (18.76%), Delhi (16.63%), and Kolkata (15.69%) were the top-performing cities in terms of demand growth.

Key Trends and Takeaways

The findings emphasize the continued expansion of India’s residential real estate sector, fueled by strong investor confidence and growing demand. With luxury housing accounting for over half of the new supply and cities like Bengaluru and Gurugram driving growth, the sector is poised for further momentum in 2025.

This trend is further supported by insights from over 20 million customers on the Magicbricks platform, reflecting a shift toward premium housing and investment-grade properties.

Also Read: Pan India residential market

You May Also Like

MahaRERA adjourns cases till March 31 due to corona

MahaRERA has notified that hearing of all cases shall be adjourned till…

November sells over 10.6K homes

Mumbai’s real estate market reported 10,607 property registrations in November, according to…

MHADA Pune Board to Hold Computerized Lottery for 3,662 Flats on January 29

The MHADA Pune Board will hold a computerized lottery draw on January 29, 2025, for 3,662 flats across Pune, Pimpri-Chinchwad, PMRDA, and Solapur districts. With over 71,642 applications received, the event promises transparency via the IHLMS 2.0 system. Winners can view results live on MHADA’s platforms.

UP RERA Disposed Most Cases, MahaRERA Is Third

UP RERA has disposed the maximum number of real estate cases in…