New Delhi, April 30 (IANS) India’s residential market recorded 70,631 sales in Q1 2026, up 8 per cent year‑on‑year, primarily driven by new launches of 90,023 units, up 13 per cent, a report said on Thursday.
The report from commercial real estate services firm JLL said that the strong supply pipeline from reputed developers provided buyers with diverse options and reinforced confidence in market stability, leading to steady sales growth.
New launches had surged by 32 per cent quarter‑on‑quarter, led by Bengaluru and Delhi NCR. However, the overall market showed a slight moderation in momentum, with sales growth 5 per cent lower than launch activity, reflecting a more measured buyer approach in response to current economic conditions.
“The temporary divergence between sales and new launches is not unusual and reflects a healthy market adjustment and not a structural concern,” said Siva Krishnan, Senior Managing Director (Chennai & Coimbatore), Head – Residential Services, India, JLL.
The report said that premium housing drove growth with homes priced above Rs 1 crore accounted for 71 per cent of sales up from 59 per cent in Q1 2025, marking a 30 per cent year-on-year growth.
The homes in the Rs.1.5–3 crore band saw an exceptional 67 per cent year-on-year increase, reflecting strong buyer preference for spacious, well-appointed homes in prime locations.
Conversely, the sub-Rs 1 crore segment contracted 24 per cent year-on-year, with its market share declining to 29 per cent from 41 per cent. This sustained shift reflects rising land and construction costs, limited affordable housing supply in core urban areas, and developers’ strategic focus on higher-margin premium projects that align with evolving buyer preferences for quality over entry-level options.
These markets benefit from strong corporate presence, including numerous multinational corporations and startups that generate substantial employment, along with continuous infrastructure development enhancing their appeal as residential destinations, the report noted.
Chennai led with 61 per cent YoY growth, Delhi-NCR grew 30 per cent, Bengaluru posted 18 per cent growth and Hyderabad saw 6 per cent growth.
—IANS
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