Mumbai and Bengaluru Lead India's Residential Real Estate Growth in 2024
Mumbai recorded a 13-year high in housing sales with an 11% increase, while Bengaluru saw a 2% rise, driven by demand for luxury homes and infrastructure improvements.
- Mumbai's residential market saw 96,187 units sold in 2024, an 11% increase from 2023, with significant growth in the ₹20-50 crore luxury housing segment.
- Bengaluru recorded 55,362 residential sales in 2024, a 2% rise, with the ₹2-5 crore segment growing by 91% year-on-year.
- Key infrastructure projects like Mumbai's Coastal Road and Metro Line 3, and Bengaluru's metro expansions, have bolstered connectivity and demand in both cities.
- Mumbai's housing prices increased by 5%, reaching ₹8,277 per sq ft, while Bengaluru saw the highest price appreciation nationally at 12% year-on-year.
- Across India's top eight cities, housing sales reached a 12-year high of 350,613 units in 2024, reflecting a 7% annual growth driven by stable mortgage rates and rising demand for premium homes.
Hindustan Times 
Free Press Journal 
