Mr. Keval Valambhia, Chief Operating Officer, CREDAI-MCHI sharing insights on India's luxury housing market
Mumbai, November
26, 2024 : CREDAI-MCHI, the apex body of real estate developers, has
unveiled its latest research analysis, spotlighting a transformative shift in
India's urban housing markets towards luxury and premium properties. The study
reveals significant growth in average ticket sizes and total sales values
across India’s top seven metropolitan cities during H1 FY2025 (April-September
2024).
The data highlights a
remarkable 18% increase in total sales value, which surged to ₹279,309 crore,
compared to ₹235,800 crore in the same period of FY2024. Despite a modest 3%
decline in total units sold, the average price of homes rose sharply to ₹1.23
crore in H1 FY2025, compared to ₹1 crore in H1 FY2024, underscoring the growing
preference for premium homes.
Speaking on the
findings, Keval Valambhia, Chief Operating Officer, CREDAI-MCHI, stated,
"The growth trajectory of India’s luxury housing market is a testament to
its resilience and adaptability. Buyers are increasingly gravitating towards
premium properties that offer enhanced lifestyle experiences and robust
investment value. At CREDAI-MCHI, we remain committed to fostering an
environment that supports this growth, ensuring a balance between innovation,
quality, and sustainability in urban real estate development."
Key Highlights
from the Report
The total sales value across
the top seven cities surged by 18%, reaching ₹279,309 crore in H1 FY2025,
reflecting increased demand for luxury housing. The average ticket size rose to
₹1.23 crore, marking a significant jump from ₹1 crore in H1 FY2024.
In city-wise performance, NCR
emerged as a leader, with the average ticket size growing by an impressive 56%
to ₹1.45 crore and sales value rising by 55% to ₹46,611 crore. MMR demonstrated
its consistency, with an average ticket size stable at ₹1.47 crore and sales
value increasing by 2% to ₹114,529 crore. Bengaluru showcased robust growth,
with the average ticket size rising by 44% to ₹1.21 crore and sales value
increasing by 44% to ₹37,863 crore.
Hyderabad followed suit, with its
average ticket size growing by 37% to ₹1.15 crore and sales value increasing by
28% to ₹31,993 crore. Chennai saw a 31% increase in the average ticket size to
₹95 lakh, with sales value rising by 20% to ₹9,015 crore. Pune’s market
reflected strong growth in the affordable luxury segment, as its average ticket
size rose by 29% to ₹85 lakh and sales value jumped by 19% to ₹34,033 crore.
Kolkata experienced moderate growth, with the average ticket size increasing by
16% to ₹61 lakh.
Across the board, buyers are
prioritizing larger, well-equipped homes in prime locations, signaling a shift
towards premium living. The consistent rise in sales value across cities
underscores resilient demand for high-end properties, even in regions where
unit sales saw a modest decline. Cities like NCR and Bengaluru stood out with
significant growth in high-value property transactions, reflecting their appeal
among affluent buyers.
With rising disposable incomes
and a growing inclination towards premium housing, the luxury real estate
segment is poised for sustained growth. Developers are urged to innovate,
focusing on sustainability, world-class amenities, and design excellence to
meet the evolving needs of buyers.
The findings of this report
reaffirm CREDAI-MCHI’s role in shaping the future of India’s urban housing
landscape, fostering informed decision-making among stakeholders, and driving
the real estate sector towards unprecedented heights.
ABOUT CREDAI-MCHI
CREDAI-MCHI is an apex body
comprising members from the Real Estate Industry in the Mumbai Metropolitan
Region (MMR). With an impressive membership of over 1800+ leading developers in
MMR, CREDAI-MCHI has extended its reach throughout the region, establishing
units in various locations such as Thane, Kalyan-Dombivli, Mira-Virar, Raigad,
Navi Mumbai, Palghar-Boisar, Bhiwandi, Uran-Dronagiri, Shahapur-Murbad, and
most recently in Alibag, Karjat-Khalapur-Khopoli, and Pen. Being the only
Government-recognized body for private sector developers in MMR, CREDAI-MCHI is
dedicated to promoting the industry’s organization and progress.
As a part of CREDAI National,
an apex body of 13000 developers across the nation, CREDAI-MCHI has emerged as
a preferred platform for regional discussions on housing and habitat by
establishing close and strong ties with the government. It is committed to
breaking barriers to create a strong, organized, and progressive real estate
sector in the MMR.The vision of CREDAI-MCHI is to empower the Real Estate
fraternity of the Mumbai Metropolitan Region as it preserves, protects, and
advances the right to housing for all. To continue being a trusted ally,
guiding their members, supporting the Government on policy advocacy, and
assisting those they serve through the ever-evolving real estate fraternity.
Website: https://mchi.net/
For further media
queries, please contact:
Sonia Kulkarni |
9820184099
sonia.kulkarni@hunkgolden.in