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News18
a day ago
- Business
- News18
Cheap Flats Losing Charm? Demand For Premium Homes Skyrockets In Delhi-NCR, Bengaluru
Last Updated: Sales of flats under Rs 1 crore dropped 32% in 7 cities in the first half of 2025, while demand for premium flats rose 6%, reflecting changing Indian homebuyer preferences The Indian middle class has traditionally sought homes that balance convenience and affordability. However, with rising inflation and evolving preferences, buyers are increasingly attracted to flats offering superior facilities and amenities, signalling a shift in urban lifestyles. Significant Decline In Affordable Flat Sales In the first half of 2025, sales of flats priced under Rs 1 crore fell by 32% across seven major cities, reveals a JLL India report. These cities, Mumbai Metropolitan Region (MMR), Delhi-NCR, Kolkata, Chennai, Hyderabad, Bengaluru, and Pune, saw a total of 1,34,776 flats sold between January and June, a 13% drop from the previous year. This figure excludes sales of unfinished houses, villas, and plots. Surge In Demand For Premium Flats Conversely, demand for flats priced above Rs 1 crore increased by 6% during the same period. A total of 82,972 premium flats were sold, compared to 51,804 affordable flats. Premium flats now make up 62% of total sales, up from 51% in the first half of 2024, according to the JLL report cited by Jagran. Outlook For Real Estate Market While the demand for affordable flats is decreasing, this does not imply a drop in home ownership aspirations. Rather, it highlights a growing preference for premium properties as infrastructure and urban amenities improve. If interest rates continue to fall and government support remains, the real estate market is expected to grow steadily. view comments First Published: July 28, 2025, 09:19 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Time of India
6 days ago
- Business
- Time of India
Real estate trends: Homebuyers opting for plotted deals developments as land prices climb
Numerous national property firms are expanding their plotted development operations. (AI image) Plotted developments are experiencing significant growth amongst buyers of second and third homes, who are attracted by strong value appreciation prospects, enhanced adaptability, and the enduring worth of land assets. Over the past four years, land values in major cities have shown double-digit increases, transforming plotted layouts from a specialised market segment into a primary investment choice, particularly for wealthy and aspirational purchasers. In response to increasing customer interest, developers are launching branded, fully-equipped plot communities featuring comprehensive amenities, verified land titles and complete infrastructure. Second-home purchasers particularly value land as a future investment, appreciating the flexibility to construct at their convenience, avoid built property depreciation, and gain from natural land value increases. "Plotted developments help real estate developers to diversify risk and take advantage of lower development costs, faster construction timelines and increased cash flows," said Samantak Das, chief economist and head of research at JLL India according to an ET report. "Developers are diversifying into this format due to faster turnaround times, quicker cash flows, and growing investor confidence." He noted that 944 acres were acquired in the March quarter, with 20% allocated for plotted developments. JLL India reports that developers purchased over 2,300 acres across 23 cities in 2024, with 38% designated for plotted or low-rise residential projects. Numerous national property firms are expanding their plotted development operations. Sumadhura and Assetz Group, recognised for large township developments, are investing substantially in this sector. "Land appreciates faster than built-up units especially in the outskirts of a city, and with today's buyers looking for sustainability, long-term wealth creation, and freedom in design, plotted developments are gradually becoming a natural alternative choice," said Sunil Pareek, executive director at Assetz, which has plotted development projects in Bengaluru according to the ET report. Market data shows that plot prices have doubled in cities like Bengaluru, Pune, Hyderabad, and NCR's outskirts over four years. In Bengaluru's Sarjapur and Devanahalli areas, plotted land costs ₹5,000-₹8,000 per sq ft, varying by location, developer and infrastructure. Whilst land acquisition and financing have traditionally been more challenging than apartments, reputable developers offering Rera-compliant projects have enhanced transparency and legal processes, attracting more institutional and individual investors. For buyers, plotted developments offer multiple benefits beyond value appreciation. These include zero maintenance fees until construction begins, absence of shared owner obligations, and complete autonomy in home design.
Time of India
22-07-2025
- Business
- Time of India
Sales of affordable, mid-income flats drop 32 pc in Jan-Jun across 7 cities: JLL
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel India's seven major cities have witnessed a 32 per cent drop in sales of apartments costing below Rs 1 crore, while demand for premium homes rose 5 per cent during the first six months of this year, according to Tuesday, real estate consultant JLL India released its report for housing market, which showed that sales of apartments fell 13 per cent annually in January-June 2025 to 1,34,776 units across seven cities -- Mumbai Metropolitan Region (MMR), Delhi-NCR, Kolkata, Chennai, Hyderabad, Bengaluru, and includes only apartments. Rowhouses, villas, and plotted developments have been per the data, sales of apartments (below Rs 1 crore category) fell 32 per cent annually in January-June to 51,804 sales of premium apartments (each above Rs 1 crore) rose 6 per cent to 82,972 units in the first six months of this calendar year."Apartments valued at Rs 1 crore and above represented approximately 62 per cent of total sales during the first half of 2025, marking a significant increase from their 51 per cent market share during the same period last year," JLL India segment's (sub-Rs 1 crore) share dropped to 38 per cent during the first half of 2025 from 49 per cent in the year-ago period."The steady growth in luxury home sales indicates rising buyer affluence, evolving lifestyle aspirations, and a heightened demand for larger, premium living spaces. This increasing focus on premium properties has overshadowed activity in the mass housing segment," said Samantak Das, Chief Economist and Head of Research, JLL Sterling Developers CMD Ramani Shastri said the real estate market is set for steady growth supported by reduced home loan interest rates, continued policy support, and infrastructure Suraj, Founder of InfraMantra, noted that Gurugram has seen huge supply in the luxury segment and a consequent demand from HNIs, NRIs and new-gen wealth estate and construction firm BCD Group CMD Angad Bedi said the record leasing of office spaces is helping drive housing demand across top-seven Kothari, Founder & CEO of Property First Realty, noted that there is a growing trend of premiumisation in the residential real estate Kumar, Marketing Head of M5 Mahendra Group, said, "India's growing economy has led to an increase in high-net-worth individuals (HNIWs) and ultra (HNIWs), especially in urban hubs."These major cities are seeing a surge in demand for high-end homes that offer luxury, exclusivity as well as connectivity, he added. PTI
News18
22-07-2025
- Business
- News18
Sales of affordable, mid-income flats drop 32 pc in Jan-Jun across 7 cities: JLL
New Delhi, Jul 22 (PTI) India's seven major cities have witnessed a 32 per cent drop in sales of apartments costing below Rs 1 crore, while demand for premium homes rose 5 per cent during the first six months of this year, according to JLL. On Tuesday, real estate consultant JLL India released its report for housing market, which showed that sales of apartments fell 13 per cent annually in January-June 2025 to 1,34,776 units across seven cities — Mumbai Metropolitan Region (MMR), Delhi-NCR, Kolkata, Chennai, Hyderabad, Bengaluru, and Pune. Data includes only apartments. Rowhouses, villas, and plotted developments have been excluded. As per the data, sales of apartments (below Rs 1 crore category) fell 32 per cent annually in January-June to 51,804 units. However, sales of premium apartments (each above Rs 1 crore) rose 6 per cent to 82,972 units in the first six months of this calendar year. 'Apartments valued at Rs 1 crore and above represented approximately 62 per cent of total sales during the first half of 2025, marking a significant increase from their 51 per cent market share during the same period last year," JLL India said. Mass segment's (sub-Rs 1 crore) share dropped to 38 per cent during the first half of 2025 from 49 per cent in the year-ago period. 'The steady growth in luxury home sales indicates rising buyer affluence, evolving lifestyle aspirations, and a heightened demand for larger, premium living spaces. This increasing focus on premium properties has overshadowed activity in the mass housing segment," said Samantak Das, Chief Economist and Head of Research, JLL India. Bengaluru-based Sterling Developers CMD Ramani Shastri said the real estate market is set for steady growth supported by reduced home loan interest rates, continued policy support, and infrastructure upgrades. Shiwang Suraj, Founder of InfraMantra, noted that Gurugram has seen huge supply in the luxury segment and a consequent demand from HNIs, NRIs and new-gen wealth creators. Real estate and construction firm BCD Group CMD Angad Bedi said the record leasing of office spaces is helping drive housing demand across top-seven cities. Bhavesh Kothari, Founder & CEO of Property First Realty, noted that there is a growing trend of premiumisation in the residential real estate market. Yathish Kumar, Marketing Head of M5 Mahendra Group, said, 'India's growing economy has led to an increase in high-net-worth individuals (HNIWs) and ultra (HNIWs), especially in urban hubs." These major cities are seeing a surge in demand for high-end homes that offer luxury, exclusivity as well as connectivity, he added. PTI MJH TRB view comments First Published: July 22, 2025, 16:30 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Hans India
22-07-2025
- Business
- Hans India
Premium homes dominate in India, 62 pc residential sales in H1 2025 over Rs 1 crore
New Delhi: India's housing market is witnessing a strong shift towards premium properties, with 62 per cent of all residential sales in the first half of 2025 coming from homes priced above Rs 1 crore, a new report said on Tuesday. This marks a significant jump from 51 per cent during the same period previous year -- showing growing buyer preference for high-end housing, according to data compiled by JLL. The demand for homes in the Rs 3–5 crore range rose by 14 per cent, while homes priced over Rs 5 crore saw 8 per cent growth compared to H1 2024. This growing tilt towards premium housing has also impacted new project launches. In the first half of 2025, the number of homes priced over Rs 1 crore more than doubled compared to the same period previous year. In Q2 2025 alone, nearly 70,000 homes were sold across India's top seven cities -- registering a 7 per cent growth compared to the previous quarter. Bengaluru, Mumbai, Pune, and Delhi NCR led the way, each recording over 10,000 unit sales. Together, these cities contributed to nearly 77 per cent of the sales in Q2. The high-end housing segment saw strong quarterly growth. Homes priced over Rs 5 crore recorded a 42 per cent jump in demand compared to Q1 2025, while the Rs 3–5 crore category rose by 28 per cent. There's also a growing trend of buyers purchasing newly launched properties. In Q2 2025, about 29 per cent of homes sold were launched in the same quarter, a post-pandemic record. This shows growing trust in top developers who are delivering on promises and offering attractive investment options. Dr. Samantak Das, Chief Economist and Head of Research at JLL India, said the rise in luxury housing reflects increasing buyer affluence and evolving lifestyle needs. Siva Krishnan, Senior Managing Director at JLL, highlighted that despite fewer new project launches overall, premium housing launches soared, especially in Kolkata, Chennai, and Bengaluru. 'A total of 1.54 lakh homes were launched in H1 2025, with a significant share being in the high-end category,' Krishnan stated. Home prices also continued to rise across India's seven major cities during Q2 2025, the report said. Delhi NCR recorded the highest year-on-year (YoY) growth in property prices at 17 per cent, followed by Bengaluru at 14 per cent. These price increases are due to higher construction costs and steady demand. Looking ahead, experts believe that the recent reduction in the repo rate and falling inflation may make home loans cheaper and boost housing demand. 'With better infrastructure, increased urbanisation, and higher consumer spending, the residential market is expected to remain strong,' the report added
