Residential Property Registrations Decline 5% in 9 Major Cities: Square Yards
New Delhi, December 30 (PTI) The registration of residential properties saw a 5% decline to 5.45 lakh units across nine major cities by December 25 this year, according to real estate consultant Square Yards. However, the total value of these transactions rose by 11% to Rs 4.46 crore. The data covers transactions in both the primary and secondary (resale) markets in cities such as Pune, Thane, Mumbai, Navi Mumbai, Bengaluru, Hyderabad, Noida, Greater Noida, and Ghaziabad.
In 2024, the number of registrations stood at 5.77 lakh units, valuing Rs 4.03 lakh crore. Despite the decline in the number of units registered, the significant rise in the total sales value indicates a shift towards premium and luxury housing.
Tanuj Shori, Founder & CEO of Square Yards, noted that a sharp rise in the number of wealthy Indians with higher disposable incomes has led to premium and luxury housing dominating value contributions, particularly in the Mumbai Metropolitan Region (MMR). However, sustained price appreciation over the last three to five years is beginning to test affordability thresholds in several premium micro-markets.
While demand remains structurally resilient, incremental growth in the luxury segment is expected to moderate in 2026, indicating a stabilisation phase rather than a slowdown. Shori added that the housing market is well positioned for sustainable progress in 2026, supported by disciplined supply pipelines, a maturing buyer base, and a gradual re-balancing of demand towards the mid-market segment.
Rajat Khandelwal, Group CEO of Tribeca Developers, commented on the report, stating that homebuyers are showing a strong preference for newly launched projects. Santosh Agarwal, CFO & Executive Director of Alpha Corp Development Ltd, highlighted that the growth is driven by sustained demand for premium and larger homes, higher average ticket sizes, and a clear shift towards quality, branded developments. Both end-users and investors are prioritising well-located projects with superior amenities and long-term value over volume-led buying.
The report underscores the changing dynamics of the Indian real estate market, where quality and location are becoming more important than sheer volume. This trend is expected to continue in the coming year, with a focus on sustainable and balanced growth in the housing sector.
