Housing plots worth Rs 24.4 trillion have been launched across India’s top tier-I and tier-II cities between January 2022 and May 2025, driven by post-Covid demand for customisable living spaces, according to data from real estate analytics firm PropEquity.

During this period, developers rolled out approximately 470,000 residential plots across ten cities—Hyderabad, Indore, Bengaluru, Chennai, Nagpur, Jaipur, Coimbatore, Mysore, Raipur, and Surat.

Samir Jasuja, Founder and CEO of PropEquity, stated that the increasing popularity of residential plots stems from their liquidity and stronger appreciation potential compared to apartments. “Many buyers prefer plots to design their homes as per their preferences,” he noted.

Despite robust demand, plot supply dropped 23 per cent year-on-year in 2024, down to 126,556 from 163,529 in 2023. In the first five months of 2025, 45,591 plots have been launched.

For developers, plotted developments offer faster cash flows with lower upfront costs versus apartment projects, making them an attractive investment option.

The weighted average launch price of plots rose 27 per cent in 2024 to Rs 3,679 per sq ft—equivalent to Rs 33,111 per square yard or Rs 39,586 per square metre.

Industry voices echoed the trend. Kirthi Chilukuri of Stonecraft Group said the surge highlights growing demand for ownership and personalisation, while Yashank Wason of Royal Green Realty noted Indore’s emergence as a key plotted development market.

Sam Chopra of eXp Realty India added that the launch of nearly half a million plots in three and a half years underscores a major shift in buyer preference from ready-built units to land ownership.