Mumbai, The demand for homes costs Rs 1 crore and above bolstered the Indian property market in the primary quarter this 12 months, stopping general gross sales of 65,250 models from exhausting touchdown, a report stated on Thursday.
Residential gross sales in Q1 2025 (January-March) skilled solely a modest decline and added as much as 65,246 models. This restricted drop was primarily resulting from sturdy demand in the Rs 3-5 crore and Rs 1.5-3.0 crore segments, which helped counterbalance the slowdown in comparatively reasonably priced housing, in accordance with a JLL report.
The regular progress in greater ticket dimension homes signifies rising affluence amongst homebuyers, altering way of life preferences and patrons prioritising bigger and premium properties.
In keeping with the report, housing gross sales in India’s prime seven cities continued to be dominated by Bengaluru, Mumbai, and Pune, which collectively accounted for 66 per cent of Q1 gross sales.
Excessive focus of MNCs and startups creating vital employment alternatives and ongoing infrastructure enhancements make these cities more and more enticing locations to stay and work.
It’s attention-grabbing to notice that over the previous couple of quarters a big share of quarterly gross sales quantity has been contributed by tasks launched throughout the identical quarter.
Q1 2025 was no exception, with round one-fourth of its gross sales being contributed by quarterly new launches. Launches by reputed builders with assurance of well timed supply and regular value appreciation, are driving the pattern, the report knowledgeable.
“The residential actual property market is exhibiting indicators of a shift in purchaser preferences with decreasing of demand for lower than Rs 1 crore housing and a rising affinity for mid to excessive-finish properties. This as effectively suggests a possible upward motion in the general market dynamics,” stated Dr Samantak Das, Chief Economist and Head of Analysis and REIS, India, JLL.
“This upswing in the higher-priced section demand has shielded the general housing gross sales from a sharper decline,” Das added.
Builders are focusing extra on mid to excessive-finish tasks to align with present demand patterns. Excessive-finish housing sector skilled a gradual upswing with 107 per cent 12 months-on-12 months progress in launches of properties priced at Rs 1 crore and above, pushed by robust gross sales in this section.
Development in launches regardless of financial uncertainties alerts sturdy developer confidence in excessive-finish housing demand, stated the report, including that 2025 is poised for sturdy progress in the residential sector demand.
–IANS
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