Bengaluru, Ahmedabad see housing demand surge: Which other cities are seeing a boom?

Housing demand picked up across India during the July-September quarter, with Bengaluru and Ahmedabad leading the growth. As the festive season brings more buyers into the market, premium homes are also gaining attention, even as demand varies across cities.According to the latest PropIndex report by Magicbricks Research, housing demand rose 8.2% quarter-on-quarter, while property supply increased by 1.9%. Property prices recorded a modest rise of 1% during the quarter, pointing to a gradual improvement in the residential market.However, demand remained below year-ago levels, suggesting that the recovery is still uneven.BENGALURU, AHMEDABAD LEAD DEMAND GROWTHBengaluru and Ahmedabad emerged as the strongest markets for housing demand during the quarter. Demand in Bengaluru rose 14.2%, while Ahmedabad recorded a 13.5% increase, according to the report. Navi Mumbai and Thane also featured among the stronger-performing markets. Mumbai, Hyderabad and Chennai witnessed an increase in demand, while Greater Noida, Kolkata and Noida recorded comparatively modest growth.The trends suggest that homebuyer interest is spread across several residential markets, although the pace of growth differs from one city to another.PREMIUM HOMES GAIN TRACTION Alongside the improvement in overall demand, premium housing continued to attract buyers, particularly in Bengaluru, Noida and Greater Noida. Noida also recorded an increase in new supply in the premium segment, indicating that developers are continuing to focus on higher-value homes.Yash Miglani, Managing Director of Migsun Group, said the improvement in demand during the July-September quarter reflected better buyer sentiment ahead of the festive season.“Increased housing demand in the July-September quarter is because of the improved mood of buyers as the festive season approaches. There is increased interest in luxury properties, along with the continued popularity of 2 BHK and 3 BHK units, which shows that people are looking for a good balance between their lifestyle requirements and investment considerations,” he said.Miglani added that Noida and Greater Noida continued to offer potential because of infrastructure development and changing residential preferences.MUMBAI, CHENNAI SEE STRONGER PRICE GROWTHProperty prices rose by 1% nationally during the quarter, with Mumbai and Chennai among the markets that recorded stronger appreciation. However, price movements were uneven across cities, reflecting differences in local demand and market conditions.The increase in demand, along with a moderate rise in supply, indicates improving activity in the housing market. Yet the fact that demand remains below year-ago levels suggests that the recovery has some way to go.WHAT ARE HOMEBUYERS LOOKING FOR?While premium homes are drawing interest, demand for practical home configurations remains strong. Two-bedroom and three-bedroom apartments continue to account for a large share of buyer interest, reflecting the importance of balancing space, affordability and lifestyle needs.Sachin Gawri, Founder and CEO of Rise Infraventures Limited, said buyers were increasingly considering factors such as location, connectivity and quality of life while choosing a property.“There is a growing tendency by buyers to choose properties with an understanding of location, connectivity, and quality of life offered in those locations. In the midst of all these developments, the trend towards the choice of functional designs underscores the need to have comfortable and affordable choices,” he said.Meanwhile, with demand picking up and premium homes gaining traction, the coming quarters will show whether the festive momentum can translate into a sustained recovery in India's housing market.- Ends