India's Residential Real Estate Soars: A 17% Surge in Sales

India's residential real estate market witnessed a 17% year-on-year increase in sales during the first nine months of 2024. Premium and luxury segments experienced substantial growth, with cities like Bengaluru and Mumbai leading the surge. The strong sales momentum reflects revived buyer confidence and rising housing demand.

India's residential real estate market has experienced significant growth, with sales rising by 17% year-on-year in the first nine months of 2024, according to a report by JLL, a leading real estate firm.

JLL's data reveals that the surge has been particularly notable in the premium and luxury segments, with increases of 107% and 96% year-on-year, respectively. This is attributed to shifting lifestyle preferences among buyers and noticeable demand for high-value projects post-pandemic.

Bengaluru and Mumbai emerged as key players, accounting for 44% of sales from January to September 2024. The report also highlights an 8% growth in Q3 sales, emphasizing the robust confidence in early-stage projects and steady capital value increases.

(With inputs from agencies.)