India’s Housing Market Booms with 77% Growth in Sales Since FY2019

A Transformational Boom in India's Residential Market

India's real estate sector has entered a transformative phase, with residential property registrations in top Indian cities soaring to new highs. According to a new report by Square Yards, the number of registered transactions across major cities reached 5.44 lakh units in FY25, a staggering 77% jump from FY2019, which had recorded 3.07 lakh transactions.

The surge is being seen as a V-shaped recovery in the housing sector post-pandemic, driven by:

• Renewed interest in homeownership
• Growing demand for both primary and secondary housing options

Explore the latest trends in Indian housing markets for further insights.

Primary vs Secondary Market: A Balanced Shift

In FY25, primary housing transactions accounted for 57% of the market, increasing from 1.84 lakh to 3.11 lakh units, while the secondary segment held 43%—rising from 1.22 lakh to 2.33 lakh units.

This reflects a balanced growth, with resale properties gaining traction due to:

• Quicker possessions
• Better pricing
• Established neighborhood appeal

City-Wise Trends: A Tale of Urban Momentum

Bengaluru: IT Pulse Driving Real Estate

Bengaluru's real estate sector recorded around 72,000 residential transactions in FY25, with 54% stemming from the primary market. However, the secondary segment made impressive gains—rising from 31% in FY19 to 46% in FY25.

This boom was fueled by:

• The city's booming tech industry
• High demand for ready-to-move-in homes
• Growth across eastern, southern, and northern micromarkets

Explore more about Bengaluru's IT-powered housing demand.

Noida & Greater Noida: Airport-Driven Investment Surge

The anticipation of the Jewar International Airport has supercharged demand in Noida and Greater Noida. The secondary market's share rose from 29% to 40%, thanks to a surge in end-user and investor transactions.

Key trends include:

• Limited new supply
• High-end focus in new launches
• Resale properties gaining popularity due to affordability

Understand the impact of infrastructure on Noida’s real estate market.

Mumbai: Secondary Market Takes the Lead

Mumbai witnessed an unprecedented rise in secondary market sales, registering 69,000 transactions in FY25, up from 36,000 in FY19. However, primary sales also nearly doubled due to upcoming redevelopment projects.

The city's momentum was influenced by:

• Redevelopment projects in central locations
• Navi Mumbai International Airport
• Renewed buyer confidence in long-term investments

Check out ongoing Mumbai redevelopment projects.

Expert Insight

Tanuj Shori, CEO and Founder of Square Yards, remarked:

“The Indian housing sector has seen a remarkable revival post-COVID, reflected in the sharp rise in annual housing transactions. The dual momentum of renewed ownership aspirations and ready-to-move-in demand has significantly elevated both primary and secondary sales.”

What’s Fueling the Growth?

• Preference for immediate occupancy
• Infrastructure-driven demand (especially around airports)
• Growing middle-class aspirations
• Shift towards homeownership post-pandemic
• Developer push in key micromarkets