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Apartment prices across seven major Indian cities increased in the recent January–March period, rising between 8–20 per cent on a year-on-year basis, driven by higher input costs and stronger demand for premium housing. Apartment sales also grew 8 per cent to 70,631 units compared to the same period last year, while new supply increased 13 per cent. Demand remained stronger in the higher price segment above INR 1 crore, even as affordable housing sales declined. Market participants noted that while demand remains steady, buyers are becoming more selective amid cost pressures and economic uncertainty.
Apartment prices in major Indian cities have recorded an increase of 8–20 per cent during the January–March period, supported by rising input costs and sustained demand, according to data from JLL India. The report highlights that price growth has remained steady across seven key cities, reflecting continued interest in residential properties despite cost pressures. Advertisement
During the same period, apartment sales increased by 8 per cent to 70,631 units compared to 65,222 units in the corresponding period last year. New apartment launches also saw an increase of 13 per cent, reaching 90,023 units, indicating continued developer activity in the housing segment.
The seven-city market covered in the data includes Delhi-NCR, Mumbai, Bengaluru, Pune, Chennai, Hyderabad, and Kolkata. Mumbai covers regions such as Mumbai city, suburban areas, Thane, and Navi Mumbai, while Delhi-NCR includes Delhi, Gurugram, Noida, Greater Noida, Ghaziabad, Faridabad, and Sohna. The analysis is limited to apartments and does not include rowhouses, villas, or plotted developments.
JLL India noted that residential prices in these cities have maintained an upward trend, supported by strong demand fundamentals, rising land and construction costs, and a shift towards premium housing. The consultancy added that prices are expected to continue increasing, although the pace of growth may moderate if sales momentum remains steady rather than accelerating.
Market segmentation showed a clear divergence in demand trends. Apartments priced below INR 50 lakh saw a decline of 24 per cent, with sales falling to 20,269 units. In contrast, homes priced above INR 1 crore registered strong demand, with sales rising 30 per cent to 50,362 units.
According to JLL’s residential leadership, the housing market is currently in a transition phase where increased supply is being met with cautious buyer behaviour. They observed that while launches have grown, sales are rising at a slower pace, indicating that buyers are becoming more selective due to broader economic conditions.
Industry commentary also pointed out that well-established developers are gaining market share as homebuyers increasingly prefer brands with consistent delivery track records. This has encouraged leading developers to expand across multiple price segments while maintaining focus on planning and execution quality.
Source PTI
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