Home Sales Surge to 5.8 Lakh Units in 2024, Valued at Rs 4 Trillion
MUMBAI: Home sales in 2024 saw a significant boost, reaching 5.8 lakh units worth Rs 4 trillion. The residential real estate market is poised for continued growth in 2025, with over 3.6 lakh units expected to be delivered across major cities.
Real EstateHome SalesProperty MarketSquare YardsNcrReal Estate PuneJan 01, 2025
This marks a 4% increase from the previous year, reflecting a strong recovery and a promising outlook for the sector.
The outlook for 2025 is equally optimistic, with over 3.6 lakh units expected to be delivered across major cities.
Top developers are actively working towards completing a pipeline of around 300 million square feet in 2025.
Although the growth rate has moderated, indicating a maturing market, demand remains robust and well above pre-pandemic levels.
Developers, homebuyers, and investors can look forward to another promising year in 2025, according to Square Yards, a leading portal that tracks property deals.
Square Yards data reveals that 5.77 lakh residential units were registered in the primary and secondary property markets in 2024, a 4% increase from 2023 when the volume was 5.56 lakh units.
In value terms, these units commanded a price of over Rs 4.03 trillion, marking a 2% on-year growth from Rs 3.95 trillion in 2023.
Despite the recent price increases across major markets, the demand for residential properties continues to rise.
Over the past five years, prices have soared more than 60% in the top markets, with Gurugram leading the pack.
This NCR town has experienced a staggering 132% increase in property prices since 2019, driven by the growing demand for luxury and ultra-luxury properties.
Square Yards, a company that provides comprehensive property data and insights, has been instrumental in tracking these trends.
Their platform offers valuable information to stakeholders in the real estate market, helping them make informed decisions.
In conclusion, the residential real estate market in India is on a positive trajectory, with strong sales and increasing property values.
The upcoming year is expected to bring further growth and opportunities for all participants in the market.
Frequently Asked Questions
What was the total number of home sales in 2024?
In 2024, home sales in India reached 5.8 lakh units.
What is the total value of home sales in 2024?
The total value of home sales in 2024 was Rs 4 trillion.
What is the expected number of units to be delivered in 2025?
Over 3.6 lakh units are expected to be delivered across major cities in 2025.
What is the growth rate of the residential real estate market?
The growth rate of the residential real estate market has moderated, signaling a maturing market, but demand remains robust and well above pre-pandemic levels.
How much have property prices increased in top markets over the past five years?
Property prices in top markets have increased more than 60% over the past five years, with Gurugram leading at 132% growth since 2019.
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