Over 4 lakh homes delivered in top nine cities in FY25; Delhi-NCR market sees a decline: PropEquity
The number of homes delivered across India's top nine cities surged 33% year-on-year to reach 4,06,889 units in FY25, according to a report by NSE-listed data analytics firm PropEquity. The growth is attributed to government initiatives promoting affordable housing, SWAMIH Fund and increased pressure on developers to adhere to project deadlines.
Delhi-NCR was the only region to witness a decline, with home deliveries falling 8% from the previous year. In contrast, the remaining eight cities recorded growth ranging from 22% to 88%, with Kolkata leading the trend at 88%, while Mumbai saw the most modest rise at 22%.
As many as 406,889 homes were delivered in FY25 and 306,600 the year before, according to data analytics firm PropEquity. Kolkata clocked an 88% year-on-year (Y-o-Y) increase in unit deliveries: 9,441 in FY24 and 17,718 in FY25. Hyderabad and Chennai followed with increases of 61% and 49%, respectively, the report noted.
Delhi-National Capital Region (NCR) reported an 8% decline: 44,423 units in FY25 compared to 48,388 units the year before.
With this, the total homes delivered in the last three financial years stood at over 10 lakh units, it noted.
According to the report, Western India (Mumbai, Navi Mumbai, Thane and Pune) accounted for 55% of the total homes delivered in FY25, a rise from 53% in FY24 while Southern India (Bengaluru, Chennai and Hyderabad) accounted for 30% share, a rise from 28% in FY24. Kolkata accounted for 4% share in FY25, a rise from 3% in FY24.
Delhi-NCR accounted for 11% share in FY25, a decline from 16% in FY24.
The top 9 cities are Bengaluru, Chennai, Hyderabad, Kolkata, Delhi-NCR, Mumbai, Thane, Navi Mumbai and Pune.
'More than 1 lakh homes have been delivered in FY25. The cause of this surge is due to the delivery of homes launched in 2018/19, the construction of which experienced some slowdown due to the pandemic and other factors. The deliveries have also been expedited due to government's SWAMIH (Special Window for Affordable and Mid-Income Housing) Fund. The strict compliance and implementation under RERA have also played a major role in developers adhering to project delivery timelines,' said Samir Jasuja, founder and CEO, PropEquity.
'The positive market sentiments over the past couple of years have ensured strong cash-flows and faster project executions. As reputed and branded developers increase their market share, this trend in delivery of homes is expected to continue. SWAMIH 2.0 will also play a significant role in expediting delivery of stalled projects,' he said.
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