42% of 4.6 lakh homes sold in top Indian cities were fresh launches in 2024

India’s real estate market saw a significant shift in 2024, with 42% of the 4.6 lakh homes sold in the top seven cities being newly launched projects, up from 26% in 2019, according to Anarock. Bengaluru and Chennai led this trend, with 53% of homes sold being fresh launches, 44% in the National Capital Region (NCR), 43% in Hyderabad, and 42% in Pune. This marks a growing buyer preference for new projects over ready-to-move-in homes, driven by lower prices and higher return on investment (ROI). 

Mumbai Metropolitan Region (MMR) recorded 36% of sales from new launches, while Kolkata had the lowest at 31%. Developers are responding to this demand, with 133 land deals totaling 2,515 acres in 2024, of which 1,948 acres are earmarked for residential projects. The shift is attributed to financially strong, market-proven developers dominating supply, boosting homebuyer confidence. The trend will continue as more branded developers enter the market, offering customized housing solutions to meet evolving buyer expectations.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.