Surge in New Property Listings on Magicbricks Platform

During the December 2024 quarter, Magicbricks saw nearly equal shares of new and resale property listings across 13 major cities. Notably, in Gurugram, new property listings rose to 63.1%, indicating a trend towards new inventory. Other cities showed varying percentages of new versus resale properties.

The December 2024 quarter brought an interesting trend in the real estate market, as Magicbricks reported almost equal shares of new and resale property listings across 13 major cities. This data highlights significant activity in both new constructions and the resale market, offering diverse options for potential buyers.

Magicbricks data revealed that 50.9% of the properties listed in the October-December period were new, including builder floors, under-construction homes, and independent houses. The remaining 49.1% represented resale properties. Such a balance demonstrates a competitive marketplace catering to varied buyer preferences.

A more in-depth look into major cities shows Gurugram with a notable 63.1% of its listings comprised of new properties, a significant rise signaling a robust development phase. Other cities such as Mumbai, Bengaluru, and Chennai also featured strong new property listings, reflecting different urban growth dynamics.

(With inputs from agencies.)