NEW DELHI: Residential supply across 13 cities saw a 12.7% year-on-year growth in Q4 2024, led by Bengaluru and Gurugram, according to a report by Magicbricks.
The luxury segment, representing 52% of the total new supply, saw a notable increase from 38% in Q4 2023, marking a 14.4% year-on-year growth in premium properties.
Supply of under-construction properties surged 10.97% in three months with Gurugram (30.97%), Kolkata (27.80%), and Bengaluru (27.39%) leading this growth.
Supply of ready-to-move (RTM) properties experienced minimal growth at 0.03% quarter-on-quarter, reflecting steady uptick for completed inventory.
Magicbricks indicates a 22.7% year-on-year increase in residential prices, underscoring strong market confidence.
Cities such as Greater Noida (42.5% year-on-year), Noida (42.4% year-on-year), and Gurugram (35% year-on-year) experienced the highest capital appreciation, showcasing the continued strength of these markets.
The residential demand across the cities showed signs of stabilization and averaged a 6.6% year-on-year increase, led by cities like Ahmedabad (18.76% year-on-year), Delhi (16.63% year-on-year), and Kolkata (15.69% year-on-year).
