Residential Property Booms in Indian Metros

Residential property registrations rose by 4% in 2024 to 5.77 lakh units across eight major Indian cities. The total value of transactions surpassed Rs 4 lakh crore, with the market showing strong post-pandemic growth, driven by increased demand and homeownership sentiment.

Residential property registrations have surged by 4% in 2024, reaching an impressive 5.77 lakh units across eight major Indian cities, including Pune, Mumbai, Hyderabad, and Bengaluru. According to a report by real estate consultant Square Yards, this marks a significant boost in both primary and secondary markets.

The total transaction value has surpassed Rs 4 lakh crore, reflecting a 2% year-on-year growth over the previous year. This uptick echoes the Indian residential real estate market's rebound post-pandemic.

Industry experts, such as Tanuj Shori, CEO of Square Yards, attribute this promising upcycle to pent-up demand and a heightened sentiment for homeownership, despite the moderated growth in 2024 after exceptional advancements over the past few years.

(With inputs from agencies.)