{"id":972678,"date":"2025-01-07T18:04:14","date_gmt":"2025-01-07T12:34:14","guid":{"rendered":"https:\/\/www.squareyards.com\/blog\/?p=972678"},"modified":"2025-01-15T17:59:19","modified_gmt":"2025-01-15T12:29:19","slug":"real-estate-2024-5-5-lakh-transactions-rs-4-trillion-valuation-60-percent-growth-in-5-years","status":"publish","type":"post","link":"https:\/\/www.squareyards.com\/blog\/real-estate-2024-5-5-lakh-transactions-rs-4-trillion-valuation-60-percent-growth-in-5-years","title":{"rendered":"Real Estate 2024: 5.5 Lakh Transactions, \u20b94Trillion Valuation, 60% Growth in 5 Years"},"content":{"rendered":"<table style=\"width: 87.8306%; height: 155px;\">\n<tbody>\n<tr>\n<td><b><i>Key Takeaways<\/i><\/b><\/td>\n<\/tr>\n<tr>\n<td>\n<ul>\n<li><b><i>2024 saw 5.77 lakh transactions worth \u20b94.03 lakh crore, with Mumbai leading the market.<\/i><\/b><\/li>\n<li><b><i>Gurugram prices surged 132% since 2019, with Noida and Greater Noida also rising.<\/i><\/b><\/li>\n<li><b><i>3.6 lakh units will be delivered in 2025, aligning supply with demand.<\/i><\/b><\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">The Indian real estate sector celebrated a remarkable year, with over 577,000 property deals finalised in 2024. This marked a considerable increase of 4% compared to 2023, showcasing the sector&#8217;s strong performance amidst fluctuating economic conditions.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">According to property listing company Square Yards, the total value of these sales surpassed Rs. 4 lakh crore, representing a 2% year-over-year (YoY) increase over 2023. Unless otherwise noted, Bengaluru, Hyderabad, Noida, Greater Noida, Pune, Thane, Mumbai, Navi Mumbai, and Ghaziabad are all included in the analysis. The research also contains 2024 registered residential transactions for flats, plots, and villas, including primary and secondary.<\/span><\/p>\n<p><b>The year-over-year trends and changes in the residential real estate market for 2024 compared to 2023 are\u2013<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">2024: 5.77 lakh units<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">2023: 5.56 lakh units<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Year-on-Year Change: +4%<\/span><\/li>\n<\/ul>\n<p><b>Registered Residential Sales Value:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">2024: \u20b94.03 lakh crore<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">2023: \u20b93.95 lakh crore<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Year-on-Year Change: +2%<\/span><\/li>\n<\/ul>\n<p><b>Average Registered Residential Sales Value:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">2024: \u20b970 lakh per unit<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">2023: \u20b971 lakh per unit<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Year-on-Year Change: -2%<\/span><\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Western India dominated the transaction charts, particularly Mumbai and Pune, while Bengaluru and Hyderabad were not far behind. Mumbai, in particular, showcased the highest transaction volumes and value.<\/span><\/p>\n<p style=\"text-align: justify;\"><b><i>Tanuj Shori, the Founder and CEO of <a href=\"https:\/\/www.squareyards.com\/\" target=\"_blank\" rel=\"noopener\">Square Yards<\/a>,<\/i><\/b> <span style=\"font-weight: 400;\">said the following trends<\/span><b>: <\/b><b><i>&#8220;The Indian residential real estate market has entered a promising upcycle post-pandemic, bolstered by pent-up demand and a stronger sentiment for homeownership. Over the past two to three years, the sector experienced exceptional growth, which has naturally moderated in 2024.\u00a0\u00a0<\/i><\/b><\/p>\n<p style=\"text-align: justify;\"><b><i>The numbers speak volumes \u2013 annual sales have exceeded 5 lakh units and Rs. 4 lakh crore in gross value, well above pre-2020 averages. Hence, this is not a slowdown but a natural part of the cycle, reflecting a maturing market ready for its next wave of growth. In 2025, we foresee residential demand and supply to grow in close ranges, setting the stage for steady, sustainable progress,&#8221;.<\/i><\/b><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">The price dynamics of properties, especially in Gurugram, have risen to 132% in the past five years. Areas like Noida and Greater Noida also experienced significant growth in property rates due to new infrastructural developments, such as the Jewar International Airport.<\/span><\/p>\n<table>\n<tbody>\n<tr>\n<td style=\"text-align: center;\" colspan=\"6\"><b>Price Changes Recorded Between 2019-2024<\/b><\/td>\n<\/tr>\n<tr>\n<td><b>City<\/b><\/td>\n<td><b>Gurugram<\/b><\/td>\n<td><b>Bengaluru<\/b><\/td>\n<td><b>Pune<\/b><\/td>\n<td><b>Mumbai MMR<\/b><\/td>\n<td><b>Noida &amp; Greater Noida<\/b><\/td>\n<\/tr>\n<tr>\n<td><b>Changed From<\/b><\/td>\n<td><span style=\"font-weight: 400;\">Rs 5,820\u00a0<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Rs 5,450<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Rs 5,200\u00a0<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Rs 9,500<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Rs 4,500\u00a0<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Changed To\u00a0<\/b><\/td>\n<td><span style=\"font-weight: 400;\">Rs 13,500<\/span><\/td>\n<td><span style=\"font-weight: 400;\"> Rs 9,050\u00a0<\/span><\/td>\n<td><span style=\"font-weight: 400;\"> Rs 8,300<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Rs 14,200<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Rs 7,500\u00a0<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Percentage<\/b><\/td>\n<td><span style=\"font-weight: 400;\">132%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">66%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">60%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">49%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">67%<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">In 2024, key Indian cities showed varying transaction volumes in the residential real estate market. Mumbai led with \u20b91.6 lakh crore from 1.3 lakh units. Pune and Bengaluru followed, generating \u20b90.6 lakh crore from 1.0 lakh and 0.8 lakh units, respectively. Hyderabad and Thane reached sales of \u20b90.4 lakh crore, with slightly more transactions in Thane. Navi Mumbai, Noida, and Ghaziabad also contributed significantly, with their transaction values reflecting the diverse urban demand.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">As the market moves forward, the supply side is set to match the buoyant demand, with over 3.6 lakh units anticipated for delivery in 2025, promising a balanced market trajectory. As the Indian real estate market takes a step further, the sector appears balanced enough for sustainable growth backed with strong fundamentals and conscious innovations in development.<\/span><\/p>\n<p>Read more through the links below to uncover the key trends and market leaders driving this growth:<\/p>\n<p><strong>Business Standard<\/strong> &#8211; https:\/\/bit.ly\/40j95ta<br \/><strong>Hindustan Times<\/strong> &#8211; https:\/\/bit.ly\/4a7cFK7<br \/><strong>Indian Express<\/strong> &#8211; https:\/\/bit.ly\/4a1YXbn<br \/><strong>The Tribune<\/strong> &#8211; https:\/\/bit.ly\/404APQO<br \/><strong>NDTV India<\/strong> &#8211; https:\/\/bit.ly\/4a4SIUb<br \/><strong>NDTV Profit<\/strong> &#8211; https:\/\/bit.ly\/4gKpTz1<br \/><strong>Realty+<\/strong> &#8211; https:\/\/bit.ly\/3W6aNvr<br \/><strong>Republic<\/strong> &#8211; https:\/\/bit.ly\/402kYSV<br \/><strong>Press Trust of India<\/strong> &#8211; PTI &#8211; https:\/\/bit.ly\/4fOpZUR<br \/><strong>Rediff.com<\/strong> &#8211; https:\/\/bit.ly\/4fHl4Fd<br \/><strong>Asian News International<\/strong> (ANI) &#8211; https:\/\/bit.ly\/4fDEkUg<br \/><strong>India TV<\/strong> &#8211; https:\/\/bit.ly\/3C5ojIR<br \/><strong>Al Jazeera English<\/strong> &#8211; https:\/\/bit.ly\/3PmtCqm<br \/><strong>Lokmat<\/strong> &#8211; https:\/\/bit.ly\/3PjC3Tg<br \/><strong>Fortune India<\/strong> &#8211; https:\/\/bit.ly\/3VZXpJl<\/p>\n<article class=\"article-post\">\n<article class=\"article-post\">\n<article class=\"article-post\">\n<p><strong>Published Date<\/strong>: 31 Dec, 2024<\/p>\n<\/article>\n<\/article>\n<\/article>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways 2024 saw 5.77 lakh transactions worth \u20b94.03 lakh crore, with Mumbai leading the market. Gurugram prices surged 132% since 2019, with Noida and Greater Noida also rising. 3.6 lakh units will be delivered in 2025, aligning supply with demand. The Indian real estate sector celebrated a remarkable year, with over 577,000 property deals [&hellip;]<\/p>\n","protected":false},"author":68,"featured_media":972679,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[234],"acf":[],"_links":{"self":[{"href":"https:\/\/www.squareyards.com\/blog\/wp-json\/wp\/v2\/posts\/972678"}],"collection":[{"href":"https:\/\/www.squareyards.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.squareyards.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.squareyards.com\/blog\/wp-json\/wp\/v2\/users\/68"}],"replies":[{"embeddable":true,"href":"https:\/\/www.squareyards.com\/blog\/wp-json\/wp\/v2\/comments?post=972678"}],"version-history":[{"count":2,"href":"https:\/\/www.squareyards.com\/blog\/wp-json\/wp\/v2\/posts\/972678\/revisions"}],"predecessor-version":[{"id":1021804,"href":"https:\/\/www.squareyards.com\/blog\/wp-json\/wp\/v2\/posts\/972678\/revisions\/1021804"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.squareyards.com\/blog\/wp-json\/wp\/v2\/media\/972679"}],"wp:attachment":[{"href":"https:\/\/www.squareyards.com\/blog\/wp-json\/wp\/v2\/media?parent=972678"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.squareyards.com\/blog\/wp-json\/wp\/v2\/categories?post=972678"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}