The Indian real estate market has displayed a dynamic shift in the first half of 2025, with key markets witnessing distinct patterns of growth. A total of 1.7 lakh homes were sold across the top eight cities in H1 2025, indicating a steady demand despite a slight dip in overall sales. While Mumbai continues to dominate the residential market by volume, the National Capital Region (NCR) has emerged as a surprise leader in the ultra-luxury segment, surpassing Mumbai in sales of homes priced above ₹10 crore. The premiumization of the housing market is evident, as homes priced above ₹1 crore accounted for nearly 50% of all sales, signaling the rise of affluent buyers looking for high-end properties.
Key Insights from the Report:
- Sales Performance Across Top Cities:
- A total of 1,70,201 housing units were sold across Delhi-NCR, Mumbai, Bengaluru, Hyderabad, Chennai, Kolkata, Ahmedabad, and Pune.
- Mumbai topped the list with 47,035 units sold, followed by NCR (26,795) and Bengaluru (26,599).
- Ultra-Luxury Housing Surge in NCR:
- NCR led the ultra-luxury segment, with 1,055 homes sold in the ₹10–₹20 crore range and 159 homes sold above ₹50 crore, surpassing Mumbai in this high-end category.
- Mumbai remained strong in the ₹20–₹50 crore category, selling 124 units.
- Premium Segment Growth:
- The ₹1–₹5 crore segment saw the highest activity, with 75,042 units sold, followed by the ₹50 lakh–₹1 crore range, which recorded 48,972 units.
- Homes priced above ₹1 crore accounted for 49% of the total sales across the key markets.
- Price Trends:
- Average prices across cities saw a rise, with Mumbai recording an 8% increase (₹8,532 per sq ft), while NCR and Bengaluru saw a 14% rise YoY.
- Affordable Housing Decline:
- The affordable housing segment (under ₹50 lakh) faced a decline, with sales dropping by 18% YoY in H1 2025. This was attributed to a lack of supply in this price range.
Summary Table of Key Data (H1 2025)
| Segment | Sales Volume (Units) | City Leading the Segment |
|---|---|---|
| Total Units Sold | 1,70,201 | Mumbai |
| Ultra-Luxury (₹10–₹50 Cr) | 1,055 | NCR |
| Premium (₹1–₹5 Cr) | 75,042 | Bengaluru |
| Affordable (<₹50 Lakh) | 37,796 | Mumbai |
| Sales in Mumbai | 47,035 | Mumbai |
Notable Quotes from Industry Experts:
- Shishir Baijal, Chairman and Managing Director of Knight Frank India, emphasized the growth of the premium and luxury segments:
“Homes priced above ₹10 million now constitute nearly half of all sales, signaling a shift in buyer priorities and rising aspirations.” - Knight Frank India Report:
“The real estate market in H1 2025 showed resilience with ultra-luxury homes leading NCR’s growth, while affordable housing faced challenges due to a lack of viable supply.”
FAQ Section
1. What is the overall sales volume in the Indian residential market for H1 2025?
A total of 1,70,201 housing units were sold across the top eight cities, reflecting strong demand despite a slight 2% dip in overall sales.
2. Which city led in the ultra-luxury housing segment in H1 2025?
NCR overtook Mumbai in ultra-luxury housing sales, with 1,055 homes sold in the ₹10–₹20 crore range and 159 homes above ₹50 crore.
3. What segment saw the highest sales in the Indian real estate market in H1 2025?
The ₹1–₹5 crore segment emerged as the most active, with 75,042 units sold across the top markets.
4. How did the prices in the real estate market trend in H1 2025?
Real estate prices saw a rise across markets, with Mumbai seeing an 8% increase in prices, NCR and Bengaluru witnessing a 14% YoY rise.
5. What challenges did the affordable housing segment face in H1 2025?
The affordable housing segment (<₹50 lakh) saw a decline in sales by 18% YoY, mainly due to a decline in the supply of new homes, with a 31% YoY drop in new supply.