Knight Frank – India Real Estate: Residential and Office Market, Q3 2024

The Indian economy is experiencing growth with lower inflation and a projected GDP growth of 7.2% for FY 2025. Stable interest rates and a strong economic outlook have kept homebuyer sentiments positive in 2024. Residential market sales reached a high in Q3 2024, with Mumbai leading in sales volume. Demand for units priced over INR 10 mn continues to grow, while sales in the INR 5-10 mn range also saw an increase. Despite the increase in demand, the number of units launched surpassed sales for the past eight quarters, with Pune showing the most growth in launches. The trend of larger living spaces and improved lifestyle choices continues to drive demand, with sales in the higher ticket price range increasing significantly compared to a year ago.