The Indian residential property market reached record highs in the March quarter due to steady economic circumstances and buyer confidence. JLL India reported record residential sales despite increased borrowing rates and property costs.

Wellknown Polyesters Chairman Anil Gupta bought two luxury properties in South Mumbai's Malabar Hill region, influencing the luxury real estate market. The home sale, worth over INR 270 crore, established a new Indian residential property sales record at INR 1.41 lakh per square foot.

The Indian housing market hit a new milestone in FY24, with sales reaching an all-time high over the past decade. A remarkable 5 lakh units were sold, marking a significant leap in the demand for homes.

In the third quarter of fiscal year 24, Bengaluru-based real estate developer The Prestige Group earned Rs 5,326.1 crore. Over the last year, growth has been 111%. A January 9 regulatory filing indicated a 5.46 million-square-foot construction.

Homebuyers are encouraged by rising house affordability in key Indian cities. The percentage of income needed to pay monthly home loan payments has reduced despite rising mortgage rates over the last year.

The overall value of housing inventory sold in 2023 would reach Rs 4.5 lakh crore, up 38% from 2022's Rs 3.27 lakh crore. Anarock Group research shows strong housing market expansion.

The Reserve Bank of India's fifth straight repo rate hold at 6.5% is likely to boost the Indian property industry, especially Mumbai house sales.

An Anarock report found that sales of high-end properties in the cities of Delhi-NCR, Chennai, and Bangalore increased by over twofold in 2023.

The Reserve Bank of India's Monetary Policy Committee recently announced its decision to maintain the repo rate at 6.5%. This decision has garnered various reactions from the Indian real estate sector

According to a report by CBRE South Asia, between January and June of this year, 6,900 Indian luxury residences with a price tag of Rs 4 crore or more were successfully transacted. This represents an increase from the 3000 units sold in 2022.

The Reserve Bank of India's decision to keep the repo rate at 6.5% for a second time is expected to help the real estate market maintain residential sales growth, particularly in the interest rate-sensitive affordable, low- and middle-income housing segment.

Indian residential markets favour 3 BHKs. The recent 3 bedroom home sales and registrations across India in various pockets strongly suggest the same.

In some extremely pleasant news for the real estate industry in India, in 2022, housing sales in the top seven cities will surpass the previous record of 3.43 lakh units in 2014. Continue reading for further insights.

Godrej Properties, one of India's largest real estate developers, has sold Rs 500 crore with its new project in Hinjewadi, Pune. The company has sold 675 or more 6,900-square-foot homes for the September 2022 project.

In October 2022, Mumbai, India's biggest and most expensive real estate market, continued to collect stamp duty at a record rate, as the holiday season spurred home-buying activity.