Premium Segment Supply Surges 14.4% YoY: Magicbricks
Real Estate

Premium Segment Supply Surges 14.4% YoY: Magicbricks

The latest Magicbricks PropIndex Report reveals a significant 12.7 per cent year-on-year (YoY) growth in residential supply across 13 major markets in Q4 2024 (October-December), driven by cities like Bengaluru (56.1 per cent) and Gurugram (44.1 per cent). The luxury segment, representing 52 per cent of the total new supply, saw a notable increase from 38 per cent in Q4 2023, marking a 14.4 per cent YoY growth in premium properties. Supply of under-construction properties surged 10.97 per cent in three months with Gurugram (30.97 per cent), Kolkata (27.80 per cent), and Bengaluru (27.39 per cent) leading this growth. Supply of Ready-to-Move (RTM) properties experienced minimal growth at 0.03 per cent QoQ, reflecting steady uptick for completed inventory.

Drawing on preferences from over 20 million customers on the Magicbricks platform, indicates a 22.7 per cent YoY increase in residential prices, underscoring strong market confidence. Cities such as Greater Noida (42.5 per cent YoY), Noida (42.4 per cent YoY), and Gurugram (35 per cent YoY) experienced highest capital appreciation, showcasing the continued strength of these markets.

The report concluded that the residential demand across the markets showed signs of stabilisation and averaged 6.6 per cent YoY increase, led by cities like Ahmedabad (18.76 per cent YoY), Delhi (16.63 per cent YoY), and Kolkata (15.69 per cent YoY).

The findings underscore the continued expansion of India's residential real estate sector, driven by investor confidence and sustained demand.

The latest Magicbricks PropIndex Report reveals a significant 12.7 per cent year-on-year (YoY) growth in residential supply across 13 major markets in Q4 2024 (October-December), driven by cities like Bengaluru (56.1 per cent) and Gurugram (44.1 per cent). The luxury segment, representing 52 per cent of the total new supply, saw a notable increase from 38 per cent in Q4 2023, marking a 14.4 per cent YoY growth in premium properties. Supply of under-construction properties surged 10.97 per cent in three months with Gurugram (30.97 per cent), Kolkata (27.80 per cent), and Bengaluru (27.39 per cent) leading this growth. Supply of Ready-to-Move (RTM) properties experienced minimal growth at 0.03 per cent QoQ, reflecting steady uptick for completed inventory.Drawing on preferences from over 20 million customers on the Magicbricks platform, indicates a 22.7 per cent YoY increase in residential prices, underscoring strong market confidence. Cities such as Greater Noida (42.5 per cent YoY), Noida (42.4 per cent YoY), and Gurugram (35 per cent YoY) experienced highest capital appreciation, showcasing the continued strength of these markets.The report concluded that the residential demand across the markets showed signs of stabilisation and averaged 6.6 per cent YoY increase, led by cities like Ahmedabad (18.76 per cent YoY), Delhi (16.63 per cent YoY), and Kolkata (15.69 per cent YoY).The findings underscore the continued expansion of India's residential real estate sector, driven by investor confidence and sustained demand.

Next Story
Infrastructure Transport

Mumbai-Ahmedabad Bullet Train Set to Launch by 2028

India’s first bullet train is set to revolutionize high-speed travel along the western corridor, with the Mumbai-Ahmedabad high-speed rail project aiming for a 2028 launch. This announcement marks a major milestone in India’s infrastructure goals, as it promises to reduce travel time between the two economic hubs from eight hours to just three.Spanning a planned 508-kilometre stretch, the corridor stands as a flagship example of Indo-Japanese collaboration in technology and engineering. Once operational, the train is expected to transform intercity mobility and place India among the select..

Next Story
Infrastructure Transport

Mumbai-Gandhinagar Train Service Enhances Passenger Capacity

The Mumbai Central–Gandhinagar Capital Vande Bharat Express has increased its passenger capacity by adding four additional AC chair car coaches to meet the growing commuter demand on one of India’s busiest business corridors. This upgrade, effective from 11 May, raised the train’s seating capacity from 1,128 to 1,440 passengers, allowing it to serve 936 more passengers daily in both directions. The increase was described as a practical measure to accommodate the surging demand on the busy Mumbai–Ahmedabad–Gandhinagar route, which regularly operates at over 150 percent seat occupancy...

Next Story
Infrastructure Urban

Delhi Plans 12 Sewage Plants to Clean Najafgarh Drain Efficiently

Delhi’s ambitious plan to improve the water quality of the Yamuna River has gained significant momentum as the Delhi Jal Board (DJB) has begun work on 12 new sewage treatment plants (STPs) aimed at reducing the volume of untreated sewage being discharged from the Najafgarh Drain.This initiative forms part of the ongoing efforts to clean the Yamuna and restore the river’s health, which has long been a critical environmental issue for the national capital. Given the alarming pollution levels in the Yamuna, experts and officials consider this project a vital step toward addressing the persist..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?