India’s real estate landscape varies widely by city. Each metro has its own pricing, demand drivers, and buyer preferences. Here’s a quick look at the key traits of eight major cities for homebuyers:
Snapshot of Major Cities
- Mumbai: India’s largest housing market, with about 96,000 homes sold in 2024 – the highest among all cities. Property here is the costliest, driven by scarce land and high demand. Expect ultramodern high-rises in upscale areas and redevelopment projects offering new apartments in established neighborhoods.
- Delhi NCR: A broad region covering Delhi and its suburbs (Gurugram, Noida, etc.), offering everything from luxury condos to budget flats. Select corridors are booming – Dwarka Expressway saw prices nearly double from 2019–2024. Given NCR’s diversity, buyers must research specific locales for differences in pricing and connectivity.
- Bengaluru: India’s tech hub with steady demand from IT professionals. Offers a mix of high-end villas and mid-range apartments. Outer areas like Gunjur saw prices jump ~69% in five years, thanks to new tech parks and metro extensions. Green suburban townships make Bengaluru attractive for families seeking quality of life.
- Chennai: A comparatively affordable metro with a stable, end-user-driven market. Home prices are rising steadily (~16% YoY in 2024). The city is expanding along corridors like OMR and GST Road with new townships and IT parks. Ongoing projects (e.g. metro phase II) are boosting housing demand in the suburbs.
- Hyderabad: A fast-emerging realty hotspot propelled by the IT and pharma boom. The city notched record-high home sales in 2024, yet housing remains relatively affordable. Prices have seen only a modest uptick (~3% YoY by Q4 2024), giving buyers more value for money compared to other tech cities. Western suburbs like Gachibowli and Kondapur are popular, offering modern apartments at lower prices than Bengaluru.
- Pune: A booming metro benefiting from IT, manufacturing, and education growth. It too saw record sales in 2024. Suburban zones like Hinjewadi and Wagholi offer new projects at reasonable rates, while established areas (e.g. Koregaon Park) are pricier. Pune’s good infrastructure and job opportunities make it a family-friendly market.
- Ahmedabad: One of the most affordable big cities for real estate. With average home rates around ₹4,400 per sq ft, it’s a budget-friendly market that still saw ~10% price growth recently. The city’s developing metro rail, new highways, and the GIFT City business district are driving interest. Buyers can find spacious apartments and plots here at a fraction of Mumbai or Delhi prices, making it attractive for value seekers.
- Kolkata: India’s most affordable metro in terms of property pricing. It has the lowest entry cost among the major cities and enjoyed a notable surge in housing sales in 2024 (around 16% growth). Traditional areas in the central city are dense, so many homebuyers look towards new townships in Rajarhat/New Town and projects along the EM Bypass. Kolkata offers a slower-paced metro life, and its real estate market is gradually picking up momentum with improved connectivity and modern residential complexes.