Rs. 2,40,000 crore (US$ 27.96 billion) worth of housing plots launched in last three and a half years: PropEquity

Real estate data analytics firm PropEquity has revealed that nearly 4,70,000 residential plots, valued at approximately Rs. 2,40,000 crore (US$ 27.96 billion) have been launched by developers across 10 Tier-I and Tier-II cities between January 2022 and May 2025. The cities in question include Hyderabad, Indore, Bengaluru, Chennai, Nagpur, Jaipur, Coimbatore, Mysore, Raipur, and Surat. The increased demand for residential plots post-COVID pandemic has driven this surge, as plots are seen as a more liquid asset with higher appreciation potential compared to apartments. According to PropEquity Founder and CEO Mr. Samir Jasuja, many prospective customers prefer plots to customise their living spaces. In 2024, the supply of residential plots in these cities fell by 23% annually to 1,26,556 plots from 1,63,529 in the previous year. However, the first five months of 2025 saw the launch of 45,591 residential plots. For developers, plots offer quicker cash flow due to faster sales and lower upfront investment compared to apartments.

The weighted average launch price of residential plots in these 10 cities rose by 27% annually in 2024, reaching Rs. 3,679 (US$ 43) per sq. ft, equivalent to Rs. 33,111 (US$ 385) per square yard and Rs. 39,586 (US$ 461) per square metre. Industry experts have commented on the report, highlighting the growing desire for ownership and personalisation among buyers. Founder and MD of Stonecraft Group, Mr. Kirthi Chilukuri, noted that the surge in plotted development reflects this trend. Managing Director of Royal Green Realty, Mr. Yashank Wason, pointed out Indore's rise as a top plotted development market, showcasing its evolution into a dynamic real estate destination. President and Country Head of eXp Realty India, Mr. Sam Chopra, emphasised that the launch of 4,70,000 plots in just over three years indicates a significant shift in buyer behaviour towards land ownership.

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