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India's residential real estate sector has witnessed a 46.8% year-on-year (YoY) surge in under-construction supply, driven by robust demand. Bengaluru leads with an impressive 114% YoY growth, followed by Gurugram at 98%. The average price of under-construction properties stands at INR 12,064 per square foot, with affordable options in Ahmedabad and Kolkata, while Mumbai and Delhi continue to cater to premium buyers. Developers are accelerating project timelines to meet rising demand across segments. This increase highlights the market's resilience and adaptability, catering to diverse homebuyer preferences from affordable housing to luxury developments.
There has been a significant 46.8% year-on-year (YoY) increase in the supply of under-construction residential properties in major cities, highlighting the growing activity of developers responding to strong market demand. Bengaluru leads the pack with a remarkable 114% YoY growth, while Gurugram follows closely with 98%. Over the past quarter, there was an impressive 10.97% increase in under-construction supply, with cities like Gurugram (30.97%), Kolkata (27.80%), and Bengaluru (27.39%) experiencing the largest growth. Advertisement
The average price for under-construction properties across key markets is INR 12,064 per square foot. For those seeking more affordable options, cities such as Ahmedabad (INR 6,708 per square foot), Kolkata (INR 7,259 per square foot), and Greater Noida (INR 8,281 per square foot) offer reasonably priced properties. On the other hand, Bengaluru (INR 10,988 per square foot), Noida (INR 11,706 per square foot), and Navi Mumbai (INR 11,738 per square foot) are becoming popular choices for affordable luxury homes, while Gurugram (INR 14,579 per square foot), New Delhi (INR 18,150 per square foot), and Mumbai (INR 27,725 per square foot) remain key destinations for premium homebuyers.
The shift towards under-construction properties aligns with the rising demand from homebuyers, prompting developers to expedite their project timelines to meet these needs. This surge in supply further strengthens the resilience of India's residential real estate market, with developers working actively to cater to both the affordable and premium segments of the market. The increasing availability of properties across different price points illustrates the market's adaptability and its ability to meet diverse buyer demands.
The significant growth in under-construction residential supply reflects the resilience and adaptability of India's real estate market. With strong demand driving developers to increase their activities, cities like Bengaluru, Gurugram, and Kolkata have seen remarkable YoY growth in supply. As prices vary across cities, homebuyers can find both affordable and luxury options suited to their preferences. This trend shows that developers are not only responding to market demand but are also adjusting their strategies to meet the needs of both affordable and premium segments, highlighting the overall strength of the market.
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