New Delhi, Apr 30 (PTI) Apartment prices rose 8-20 per cent in January-March across seven major cities due to rise in input costs and rates could appreciate further although at a slow pace, according to JLL.
Real estate consultant JLL India on Thursday released its data, stating that the sales of apartments rose 8 per cent during January-March to 70,631 units across seven cities from 65,222 units in the year-ago period.
New supply of apartments increased 13 per cent to 90,023 units.
The seven cities are Delhi-NCR, Mumbai, Bengaluru, Pune, Chennai, Hyderabad, Pune and Kolkata.
Mumbai includes Mumbai city, Mumbai suburbs, Thane city, and Navi Mumbai while Delhi-NCR includes Delhi, Gurugram, Noida, Greater Noida, Ghaziabad, Faridabad and Sohna. The data includes only apartments. Rowhouses, villas, and plotted developments are excluded from its analysis.
"Residential property prices in India's top seven cities continued their upward trajectory in Q1 2026, with Y-o-Y increases ranging from 8 per cent to 20 per cent. This sustained appreciation reflects strong underlying demand fundamentals, rising land and construction costs, and the shift toward premium product offerings," JLL said.
With ongoing construction and operational cost pressures, the consultant said that property prices are likely to "keep increasing, though the rate of growth may slow if sales growth remains measured".
On apartment sales, the data showed that sales of flats, costing below Rs 50 lakh each, fell 24 per cent in January-March to 20,269 units. Apartments priced above Rs 1 crore were in demand, with sales increasing 30 per cent to 50,362 units.
"The residential market is navigating a transitional phase where robust supply is meeting with measured buyer sentiment. While launches have surged 13per cent year-on-year, sales growth of 8 per cent suggests buyers are exercising greater discretion amid economic uncertainties," said Siva Krishnan, Senior Managing Director (Chennai & Coimbatore), Head - Residential Services, India, JLL.
Commenting on the market, Bengaluru-based Sattva Group President - Sales, Marketing & CRM Karishmah Siingh noted that the homebuyers are increasingly aligning with brands that have demonstrated consistency over time and this has resulted in growth in market share of big realty firms.
"As demand deepens, established developers are expanding across price points to cater to a wider buyer base while maintaining focus on planning and delivery," she said.