Residential properties priced between Rs 2-5 crore are fast emerging as the most-active segment in India’s housing market, as buyers look to upgrade from the affordable range and developers pivot toward premium projects offering better margins, according to data from JLL India.
Apartments valued at Rs one crore and above accounted for 62 percent of all housing sales between January and September 2025, growing faster than the same period last year, which saw a 52 percent rise.
The Rs 1.5-3 crore category grew 10 percent on-year so far this year, making it the single largest contributor to the overall market activity.
Homes priced between Rs 3-5 crore too rose by 3 percent, while those above Rs 5 crore grew by one percent. In contrast, homes priced below Rs one crore saw a 30 percent drop in sales, with their share in total transaction falling from 48 percent in 2024 to 38 percent this year.
“January-September 2025 showed a shift toward a value-driven market, with premium housing demand driving overall sales despite a 12 percent year-on-year drop in total units sold,” Dr Samantak Das, Chief Economist and Head of Research and REIS, India, JLL said.
The housing segment registered sales of 2.02 lakh apartment in the first nine months of 2025, down 12 percent on-year but the premium segment held firm to rise by 4 percent during this period.
Demand for property in the Rs 2-5 crore range has strengthened across major developers, with real estate developer Sobha reporting that homes priced in this band now having a growing share of total sales in H1FY26, and over 65 percent in terms of value.
Sobha achieved its highest-ever half-yearly sales of Rs 3,981 crore, with Bengaluru and NCR contributing 86 percent. Managing Director Jagadish Nangineni said, “Steady demand for luxury and premium real estate in a growing economy continues to support our sales momentum.”
Developers Chasing Premium Segment
Prestige Estates had said in its Q1FY26 update that it continues to see “robust demand in mid-to-premium housing projects priced between Rs 2-5 crore.”
DLF, which saw record new sales bookings in Q1FY26, said the demand remains strongest for its Gurugram projects, particularly in the Rs 2-5 crore segment. The ‘Privana’ and ‘Arbour’ projects in Gurugram collectively contributed over Rs 5,600 crore worth of bookings in Q1FY25, and continued strong momentum through FY26.
Oberoi Realty too echoed this trend, citing steady sales for its ‘Sky City’ and ‘360 West’ projects in Mumbai, both priced in the Rs 3-5 crore and above range. Chairman Vikas Oberoi told analysts after the Q2FY26 earnings, “Despite recent price hikes, demand for quality luxury homes remains healthy. There is very limited supply, and buyers continue to pay for differentiated products.”
Developers have responded to the rising appetite for larger, higher-priced homes by moderating new launches in the affordable segment. Residential launches during January-September 2025 stood at 2.25 lakh units - one percent lower on-year - but the supply of homes priced above Rs 1 crore has grown by 5 percent.
“While premium housing saw strong demand, developers were cautious with new mid-range and affordable launches where demand has been sluggish,” said Siva Krishnan, Senior Managing Director (Chennai & Coimbatore), Head – Residential Services, India, JLL.
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