Demand For Homes Priced Rs 1 Crore And Above Boosts Market In India: Report

Mumbai: The call for for houses costs Rs 1 crore and above strengthened the Indian belongings marketplace within the first quarter this 12 months, combating general gross sales of 65,250 gadgets from exhausting touchdown, a document stated on Thursday. 

Residential gross sales in Q1 2025 (January-March) skilled just a modest decline and added as much as 65,246 gadgets. This restricted drop was once essentially because of tough call for within the Rs 3-5 crore and Rs 1.5-3.0 crore segments, which helped counterbalance the slowdown in slightly reasonably priced housing, consistent with a JLL document.

The stable enlargement in upper price tag dimension houses signifies expanding affluence amongst homebuyers, converting way of life personal tastes and consumers prioritising higher and top rate homes.

According to the document, housing gross sales in India’s most sensible seven towns persevered to be ruled via Bengaluru, Mumbai, and Pune, which jointly accounted for 66 according to cent of Q1 gross sales.

High focus of MNCs and startups developing vital employment alternatives and ongoing infrastructure enhancements make those towns increasingly more horny puts to are living and paintings.

It is attention-grabbing to notice that over the previous couple of quarters an important proportion of quarterly gross sales quantity has been contributed via tasks introduced all through the similar quarter.

Q1 2025 was once no exception, with round one-fourth of its gross sales being contributed via quarterly new launches. Launches via reputed builders with assurance of well timed supply and stable value appreciation, are riding the fashion, the document knowledgeable.

“The residential real estate market is showing signs of a shift in buyer preferences with lowering of demand for less than Rs 1 crore housing and a growing affinity for mid to high-end properties. This as well suggests a potential upward movement in the overall market dynamics,” stated Dr Samantak Das, Chief Economist and Head of Research and REIS, India, JLL.

“This upswing in the higher-priced segment demand has shielded the overall housing sales from a sharper decline,” Das added.

Developers are focusing extra on mid to high-end tasks to align with present call for patterns. High-end housing sector skilled a gradual upswing with 107 according to cent year-on-year enlargement in launches of homes priced at Rs 1 crore and above, pushed via sturdy gross sales on this section.

Growth in launches in spite of financial uncertainties indicators tough developer self assurance in high-end housing call for, stated the document, including that 2025 is poised for tough enlargement within the residential sector call for.