Premium housing market soars, edging out the momentum in the mass segment: 62% of India’s H12025 sales now above INR 1 crore: JLL

• Apartments valued at INR 1 crore and above represented approximately 62% of total sales during the first half of 2025, marking a significant increase from their 51% market share during the same period last year.


• The rise in contribution was largely driven by 14% growth in demand for INR 3.0-5.0 crore housing segment during the same period.


• While premium homes gained market share in H1 sales, mass segment’s (sub-INR 1 crore) share dropped from 49% in H1 2024 to 38% during H1 2025.


• In H1 2025, Bengaluru, Mumbai, and Pune retained their leadership position in India's housing sector, collectively holding ~63% share in the residential sales volume across top seven cities.


• Despite fewer new project announcements during H1 2025, launch of homes priced over INR 1 crore surged 110% in H1 2025 compared to same period last year.


• Kolkata, Chennai and Bengaluru were the cities to have recorded significant growth in H1 2025 launches, compared to first half of 2024.


• Delhi NCR led the y-o-y property price growth, with Bengaluru and Chennai recording double-digit y-o-y growth in capital value during Q2 2025.

Mumbai, July 22, 2025: While residential sales volume decreased by around 13% to 134,776 units in H1 2025 compared to the same period last year, yet the high-end housing market comprising properties priced at INR 1 crore and above, is experiencing notable growth. This is especially evident in the INR 3.0-5.0 crore category, which saw demand increase by approximately 14% compared to H1 2024, while the INR 5.0 crore and above segment registered an 8% growth in demand during the same period. However, the growing popularity of high-end and premium residential properties, combined with escalating real estate prices, has dampened activity in the mass housing sector. This shift is clearly reflected in the substantial 32% Y-o-Y decline in sales of homes priced below INR 1 crore during H1 2025.

Despite the overall decline in sales in H1 2025, India's top seven cities maintained quarterly growth momentum during Q2 2025, recording 69,630 unit-sales. Four major markets of Bengaluru, Mumbai, Pune, and Delhi NCR— each surpassed 10,000-unit sales in the quarter, collectively accounting for around 77% of total Q2 sales. The luxury segment showed exceptional quarterly performance, with homes priced above INR 5.0 crore experiencing substantial 42% Q-on-Q growth, while demand in the INR 3.0-5.0 crore range increased by 28% compared to the previous quarter.

It is interesting to note that over the last few quarters many buyers are purchasing homes in projects that were launched during the same quarter. Q2 2025 marked a post-pandemic record with approximately 29% of sales coming from properties launched during the same quarter. This trend is fueled since reputable developers are promising on-time delivery and good investment returns.

Source: Real Estate Intelligence Service (REIS), JLL Research

Note: Mumbai includes Mumbai city, Mumbai suburbs, Thane city, and Navi Mumbai; Delhi NCR includes Delhi, Gurugram, Noida, Greater Noida, Ghaziabad, Faridabad and Sohna. Data includes only apartments. Rowhouses, villas, and plotted developments are excluded from our analysis.

“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. While sales in the INR 1 crore and above category homes grew by approximately 6% compared to H1 2024, the sub-INR 1 crore segment experienced a significant 32% decline during the same period.” said Dr. Samantak Das, Chief Economist and Head of Research and REIS, India, JLL

Source: Real Estate Intelligence Service (REIS), JLL Research

Source: Real Estate Intelligence Service (REIS), JLL Research

“Despite a slowdown in launch momentum developers are focusing more on high-end and premium projects to align with current demand patterns. Q2 2025 saw 74,239 new homes enter the market, bringing the H1 2025 total to 154,086 units. The luxury segment showed remarkable momentum, with properties priced above INR 1 crore more than doubling in number compared to H1 2024, responding to robust demand in this premium category. Kolkata, Chennai and Bengaluru were the cities to have recorded significant growth in H1 2025 launches, compared to first half of last year.” said Siva Krishnan, Senior Managing Director (Chennai & Coimbatore), Head - Residential Services, India, JLL.

Home prices across India's seven major cities continued to climb in Q2 2025, with yearly increases between 5% and 17%. Delhi NCR saw the highest jump at 17%, while Bengaluru followed at 14%. This widespread price growth across all major markets stems from higher building costs and consistent buyer demand, which has encouraged developers to launch more premium housing options. 

Reduction in Repo Rate and declining inflation levels is anticipated to boost India's housing market by making home loans more affordable, helping stabilize building costs, and enhancing consumer confidence—creating favourable conditions for both homebuyers and developers. Furthermore, ongoing urbanization, expanding infrastructure, growing demand for high-end residences, stronger institutional funding, and higher consumer spending power will continue to propel the residential real estate sector forward. Current trends showing reduced sales in H1 2025 due to higher property values suggest that property price appreciation may moderate soon. This expected stabilization in pricing should help maintain healthy demand for residential properties across India's top seven metropolitan markets.

JLL is India’s premier and largest professional services firm specialising in real estate. The Firm has grown from strength to strength in India for the past two decades. JLL India has an extensive presence across 10 major cities (Mumbai, Delhi NCR, Bengaluru, Pune, Chennai, Hyderabad, Kolkata, Ahmedabad, Kochi, and Coimbatore) and over 130 tier-II and III markets with a cumulative strength of over 16,000 professionals. The Firm provides investors, developers, local corporates, and multinational companies with a comprehensive range of services. These include leasing, capital markets, research & advisory, transaction management, project development, facility management and property & asset management. These services cover various asset classes such as commercial, industrial, warehouse and logistics, data centres, residential, retail, hospitality, healthcare, senior living, and education. For further information, please visit jll.com