New Delhi, April 30 (IANS). Home sales in India have increased by 8 percent year-on-year to 70,631 units in the first quarter of 2026. During this period, the number of new launches has increased by 13 percent to 90,023 units. This information was given in the report released on Thursday.
Commercial real estate services firm JLL’s report said strong supply from reputed developers in Q1 2026 provided diverse choices to buyers and increased confidence in the stability of the market, leading to a steady increase in sales.
The report noted that new launches in the residential market have increased by 32 percent on a quarter-on-quarter basis. However, overall market momentum has moderated slightly, with sales growth remaining 5 percent lower than launch, reflecting a more cautious approach from buyers in response to current economic conditions.
“The temporary gap between sales and new launches is not unusual and reflects a strong market adjustment and not any structural concern,” said Shiva Krishnan, senior managing director (Chennai and Coimbatore), JLL, head of residential services in India.
The report said premium housing drove the growth, with homes priced above Rs 1 crore accounting for 71 per cent of sales, up from 59 per cent in the first quarter of 2025, showing an annual growth of 30 per cent.
Homes priced between Rs 1.5-3 crore witnessed a phenomenal annual growth of 67 per cent, reflecting the growing demand among buyers for spacious, luxury homes located in prime locations.
In contrast, the sub-Rs 1 crore segment saw an annual decline of 24 per cent, reducing its market share from 41 per cent to 29 per cent. This continued shift reflects rising land and construction costs, limited supply of affordable housing in major urban areas and developers’ strategic focus on high-margin premium projects, in line with buyers’ changing preferences for quality options compared to entry-level options.
The report said that these markets benefit from a strong corporate presence, including many multinational companies and startups that generate substantial employment, as well as continued infrastructure development making these markets more attractive as residential destinations.
Chennai led the way with an annual growth of 61 per cent, Delhi-NCR grew by 30 per cent, Bengaluru recorded 18 per cent growth and Hyderabad grew by 6 per cent.
–IANS
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