🔝Residential Real Estate of Top 8 Cities

India's urban regions are expected to grow significantly in this decade. The United Nations (UN) predicts that the urban population will increase to 814 million by 2030. This resulted in the formation of four new megacities: Ahmedabad, Bangalore, Chennai, and Hyderabad. This expansion will need the creation of housing infrastructure across cities.

Top Emerging Real Estate City

• Indore

• Jaipur

• Lucknow

• Bhopal

• Cochin

• Surat

• Ahmedabad

• Varanasi

• Mysore

• trivandram

• Mangalore

• Goa

• Jammu

• Ludhiana

• Bhubaneswar

• Shillong

• Guwahati

• Vadodara

• Dehradun

There are now 1,023,000 residential units available in metropolitan areas. The NCR area, which includes Delhi, Noida, Faridabad, Ghaziabad, and Gurgaon, has the largest demand for residential units—1,000,000 housing units. This is matched by a meager supply of just 253,000 houses. In India, where only 25,000 houses are provided for a need of 1,982,000 housing units, the gap is even worse for low income groups (LIG).

Despite the disastrous second wave of Covid-19, which reversed consumer confidence across industries and hurt the economy, residential real estate has achieved a stunning comeback in India's top seven property markets.

Home sales increased by 71% year on year in 2021, reaching 90% of pre-Covid 2019 levels. According to statistics from, the Mumbai Metropolitan Region (MMR) had the greatest sales with 76,400 units sold, followed by the National Capital Region (NCR) with 40,050 units sold.

Over 237,000 units were launched in the top eight cities in the calendar year, surpassing the pre-Covid levels of 2019. The number of projects launched increased by 85 percent last year.

The mid-category, priced between 40 lakh and 80 lakh, had the highest percentage of overall launches, accounting for 39%, followed by the sub-40 lakh affordable segment, accounting for 20%.

Developer discounts and offers, government incentives such as Maharashtra's stamp duty decrease, and lenders maintaining decadal-low borrowing rates all contributed to a huge increase in homeownership desires.

Here we can see the changes in year-on-year growth rate in terms of price in the top 8 cities of India.

In terms of 12-month residential price changes, Chennai, Hyderabad, and Bengaluru had increases of 7%, 5%, and 4%, respectively. The city of Mumbai had a 1% increase.Prices in Pune, Kolkata, and Ahmedabad were found to remain steady. The Delhi-NCR region had a 1% drop.

According to yearly statistics, property sales in Mumbai increased by 29% in 2021 to 62,989 units, up from 48,688 units the previous year. Office lease dropped 37% to 3.8 million square feet. Housing sales in Delhi-NCR surged by 65% to 35,073 units from 21,234 units. Office leasing increased 38% to 6.4 million square feet.

Bengaluru's housing sales increased by 61% to 38,030 units, up from 23,579 units. Office leasing fell slightly to 12.2 million square feet. Housing sales in Pune increased 38% to 37,218 units from 26,919 units, while office leasing increased marginally to 3.8 million square feet.

In Chennai, house sales increased 38% to 11,958 units, while office leasing decreased 14% to 3.9 million square feet. In Hyderabad, house sales increased by more than double to 24,318 units, but office leasing remained steady at 6 million square feet.

Housing sales in Kolkata increased by 62% to 14,405 units, while office leasing fell slightly to 0.8 million square feet.

Ahmedabad recorded a 37% increase in house sales in 2021, with 8,911 units sold compared to 6,506 units the previous year. The amount of office space leased declined by 12% to 1.1 million square feet.

In the top eight cities, there will be more launches and total absorption.