{"id":2471,"date":"2024-10-29T16:26:00","date_gmt":"2024-10-29T10:56:00","guid":{"rendered":"https:\/\/www.crematrix.com\/blog\/?p=2471"},"modified":"2026-04-09T16:49:06","modified_gmt":"2026-04-09T11:19:06","slug":"india-housing-market-surges-in-q3-cy24-rising-values-shifting-demand-dynamics","status":"publish","type":"post","link":"https:\/\/www.crematrix.com\/blog\/india-housing-market-surges-in-q3-cy24-rising-values-shifting-demand-dynamics\/","title":{"rendered":"India Housing Market Surges in Q3 CY\u201924: Rising Values, Shifting Demand Dynamics"},"content":{"rendered":"\n<p>India\u2019s residential real estate market continues its strong upward trajectory, as highlighted in the <a href=\"https:\/\/www.crematrix.com\/research\/report-details\/239\/india-housing-report-q3-cy24\">India Housing Report \u2013 Q3 CY\u201924 by CRE Ma<\/a>trix. The quarter reflects a market marked by rising property values, resilient demand, and evolving buyer preferences across major cities. With significant growth in transaction value despite a slight dip in volumes, the report underscores a shifting landscape driven by premiumization and long-term investment confidence.<\/p>\n\n\n\n<h2><strong>Strong Growth in Overall Market Value<\/strong><\/h2>\n\n\n\n<p>By the end of Q3 CY\u201924, the total value of residential units sold across major cities reached an impressive \u20b94,266 billion. This represents a significant year-on-year growth, with a 23% increase in the value of units sold compared to Q3 CY\u201923.<\/p>\n\n\n\n<p>Interestingly, this growth comes despite a ~5% decline in the number of units sold, indicating a clear rise in property prices and ticket sizes.<\/p>\n\n\n\n<h2><strong>Delhi-NCR Leads, Pune Tops in Volume<\/strong><\/h2>\n\n\n\n<p>Regional performance reveals distinct trends:<\/p>\n\n\n\n<ul><li><strong>Delhi-NCR<\/strong> emerged as the top market by value, recording \u20b941,219 crore in Q3 alone and contributing nearly 30% of total sales.<\/li><li><strong>Pune<\/strong> led in transaction volume, accounting for about 20% of total registrations.<\/li><li><strong>Hyderabad<\/strong> followed closely with a 17% share in units sold.<\/li><\/ul>\n\n\n\n<p>Mumbai and Delhi-NCR together contributed nearly 49% of the total sales value, reinforcing their dominance in high-value transactions.<\/p>\n\n\n\n<h2><strong>Rising Prices Driving Market Dynamics&nbsp;<\/strong><\/h2>\n\n\n\n<p>One of the most defining trends this quarter is the clear divergence between value and volume in the housing market. While the number of homes sold has seen a slight decline, the overall transaction value has risen sharply\u2014pointing to a steady increase in property prices.&nbsp;<\/p>\n\n\n\n<p>This shift reflects a growing preference for premium and higher-ticket homes, pushing the average price per unit to around \u20b91.4 crore. At the same time, it underscores strong buyer confidence, with homebuyers continuing to invest in real estate as a long-term asset despite rising costs.<\/p>\n\n\n\n<h2><strong>City-Level Insights<\/strong><\/h2>\n\n\n\n<p><strong>Mumbai<\/strong><strong><br><\/strong>Mumbai recorded a ~29% growth in value year-on-year, with \u20b926,824 crore in sales for Q3 CY\u201924. The city has already achieved ~86% of its CY\u201923 sales value, signaling sustained momentum.<\/p>\n\n\n\n<p><strong>Thane<\/strong><strong><br><\/strong>Thane remained stable with consistent demand. Sales value (~\u20b98,262 crore) remained largely unchanged YoY, indicating steady buyer interest and market maturity.<\/p>\n\n\n\n<p><strong>Pune<\/strong><strong><br><\/strong>Despite a ~13% drop in units sold, Pune\u2019s market continues to be robust, with strong annual performance and high absorption levels.<\/p>\n\n\n\n<p><strong>Bengaluru<\/strong><strong><br><\/strong>Bengaluru saw a long-term surge, with a <strong>1.72x increase in value since CY\u201921<\/strong>, reaching \u20b962k crore by Q3 CY\u201924, despite short-term fluctuations.<\/p>\n\n\n\n<p><strong>Hyderabad<\/strong><strong><br><\/strong>Hyderabad maintained a high average quarterly sales (~\u20b928k crore), although unit sales declined slightly, again pointing to rising property values.<\/p>\n\n\n\n<p><strong>Kolkata<br><\/strong>Kolkata recorded strong growth, with a ~35% increase in value and a notable rise in transaction volumes, making it one of the fastest-growing markets this quarter.<\/p>\n\n\n\n<h2><strong>Supply Trends and New Launches<\/strong><\/h2>\n\n\n\n<p>The number of new units launched has shown fluctuations across cities, reflecting cautious developer sentiment amid rising prices. However, key projects across markets continue to see strong absorption, particularly in integrated townships and premium developments.<\/p>\n\n\n\n<h2><strong>Key Takeaways<\/strong><\/h2>\n\n\n\n<ul><li>Value growth outpacing volume indicates a price-driven market<\/li><li>The premiumization trend is gaining momentum across cities<\/li><li>Delhi-NCR and Mumbai dominate value, while Pune leads in volume<\/li><li>Demand remains resilient, even amid rising prices<\/li><\/ul>\n\n\n\n<p>With one quarter remaining in CY\u201924, the housing market is poised to surpass last year\u2019s benchmarks in several cities. Rising incomes, urbanization, and aspirational buying are likely to sustain demand, even as affordability becomes a key factor to watch.<\/p>\n\n\n\n<p>The Indian housing market is maturing, with a clear shift toward value-driven growth and demand for premium housing.<\/p>\n\n\n\n<p>Elevate your decisions in real estate as a developer or broker with CRE Matrix\u2018s data-driven insights.\u00a0<a href=\"https:\/\/www.crematrix.com\/#schedule_demo\">Book a demo now<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>India\u2019s residential real estate market continues its strong upward trajectory, as highlighted in the India Housing Report \u2013 Q3 CY\u201924 by CRE Matrix. The quarter reflects a market marked by&hellip;<\/p>\n","protected":false},"author":1,"featured_media":2474,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[185],"tags":[13,4,168],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v16.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>India Housing Report Q3 CY\u201924: Rising Prices &amp; Key Market Trends<\/title>\n<meta name=\"description\" content=\"Explore insights from the India Housing Report Q3 CY\u201924, highlighting rising property prices, demand trends, and key city-wise real estate performance across India.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.crematrix.com\/blog\/india-housing-market-surges-in-q3-cy24-rising-values-shifting-demand-dynamics\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" 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