42 per cent of 4.60 Lakh Homes Sold in Top 7 Cities in 2024 Were Fresh Launches

Mumbai, March 5, 2025: Latest ANAROCK data shows that over 42 per cent of approx. 4.60 lakh homes sold in 2024 was in newly launched projects – significantly up from pre-pandemic 2019’s sales share of 26 per cent of approx. 2.61 lakh homes sold then.

With large and listed developers dominating the new launch housing supply across the top 7 cities, homebuyers are pressing the ‘buy’ button in newly launched projects. Customer confidence is back with a bang and Indians are unhesitatingly picking lower prices (and higher ROI) over the instant gratification of ready or nearing completion homes.

This figure has been rising steadily over the past 5 years:

• In 2020, of approx. 1.38 lakh units sold in the top 7 cities, 28 per cent were launched in that year
• In 2021, 34 per cent of approx. 2.37 lakh sold units were new launches
• In 2022, 36 per cent of out of approx. 3.65 lakh sold units were new launches
• In 2023, 40 per cent of approx. 4.77 lakh sold units were new launches

ANAROCK Group Vice-Chairman Santhosh Kumar, says, “At 53 per cent each, Bengaluru and Chennai saw the highest share of new supply absorption in 2024 – of approx. 65,230 units sold in Bengaluru in 2024, about 53 per cent were launched in that year; similarly, in Chennai, 53 per cent of approx. 19,220 units sold in 2024 were launched that year.”

“NCR has clearly left its years of unsold speculative oversupply in the past – over 44 per cent or approx. 61,900 units sold there in 2024 were launched in the same year,” adds Kumar. “Given its troubled history, NCR homebuyers’ growing preference for new launches over ready or close-to-completion homes is particularly remarkable. Just 22 per cent of the homes sold there in 2019 were newly launched. This is a rapidly rising trend – helped by a strong pipeline of supply from financially strong and market-proven developers.”

Ready-to-move-in (RTMI) homes were, in the past, the top pick for NCR homebuyers because of the chronic project delays that had defined the region in the pre-RERA era.

Today, branded, reliable developers’ rising dominance in the Indian residential space is also attracting investors to the best projects. In particular, Bengaluru, Hyderabad and Chennai saw a massive uptick in new launch sales share, which many investors are seeking low entry points in these cities.

Unlike previous years, developers are now launching projects that truly meet market demand. These new projects are not only in prime locations but also feature the right unit sizes and configurations. Leading developers are actively acquiring land in key cities to launch residential projects tailored to customer preferences. According to ANAROCK, 2024 saw at least 133 land deals totalling over 2,515 acres, with 1,948 acres designated for residential development.

City-wise Absorption Trends

Kolkata had the lowest share of fresh supply absorption at 31 per cent of approx. 18,330 units sold in 2024. That said, this figure was even lower in 2019, when just 23 per cent of the 13,930 units sold that year were new launches.

• In MMR, of 1,55,334 units sold in 2024, approx. 36 per cent were fresh launches. In 2019, of 80,870 units sold, 23 per cent were new units
• In NCR, of 61,902 units sold in 2024, approx. 44 per cent were launched in the same year. In 2019, of 46,920 units sold, just 22 per cent was in projects launched that year.
• In Chennai, of 19,221 units sold in 2024, newly launched units accounted for a whopping 53 per cent share – up from 28 per cent of 11,820 units in 2019.
• In Kolkata, of 18,334 units sold in 2024, about 31 per cent were launched in that year. In 2019, 23 per cent of approx. 13,930 sold units were newly launched.
• In Bengaluru, of 65,226 units sold in 2024, the sale share of newly launched units was 53 per cent – up from 27 per cent of 50,450 units in 2019.
• In Pune, of 81,088 units sold in 2024, 42 per cent was in projects launched in that year – up from 34 per cent of 40,790 units in 2019.
• In Hyderabad, 43 per cent of approx. 58,540 sold units were launched in the same year – significantly up from 28 per cent of approx. 16,590 units in 2019.