Millennials and Gen Y Fuel Housing Demand: Rs 1–1.5 Crore Homes See Highest Sentiment
Homes priced between Rs 1 crore and Rs 1.5 crore have emerged as the “most active” segment, recording the highest Housing Sentiment Index (HSI) score of 149 in Q2FY26 according to Magicbricks’ latest report.
The rebound in this mid-market bracket, once seen as aspirational, indicates how buyers are recalibrating despite high EMIs and firm prices. Confidence is returning, particularly among end-users and upgrade buyers who view real estate as a stable long-term asset.
The HSI is a quarterly index that tracks homebuyer confidence, which rose to 142 in the July–September quarter, up from 138 earlier. A score of 100 is generally considered neutral.
While 39% of respondents still prefer homes in the Rs 20–75 lakh range and another 39% in Rs 75 lakh–Rs 1.5 crore, the upper mid-tier is pulling ahead on sentiment. Developers, too, are aligning launches to this range, with new projects in metro suburbs and emerging corridors priced around the Rs 1–1.5 crore mark.
Chennai leads the city rankings, followed by Noida/Greater Noida and Kolkata. Infrastructure growth and better connectivity are drawing buyers to peripheral zones, where mid-sized, ready-to-move homes fit both budgets and aspirations.
Additionally, builder floors have overtaken plots as the most preferred property type, offering faster possession and semi-customisable layouts. Compact 500–1,000 sq. ft. homes are also in demand, reflecting a shift toward functional but aspirational living.
Millennials and Gen Y remain the core buyers, with strong sentiment also seen among professionals earning Rs 10–30 lakh annually. Many expect property prices to rise 6–10%, prompting quicker decisions.
Sudhir Pai, CEO, Magicbricks, said, “The rebound in housing sentiment underlines the resilience of India’s real estate market. With prices & interest rates stabilizing, buyers are looking at real estate as a safe and rewarding long-term asset.”
The overall HSI rose to 142 in the July–September quarter, up from 138, signaling that India’s housing market is regaining confidence one mid-segment home at a time.
