Bengaluru Sees 8% Dip in Residential Registrations for Q3 2024

In the July-September 2024 quarter, Bengaluru registered 25,259 residential units, including apartments and plots, according to Square Yards. This reflects an 8% year-on-year decrease, with sales totaling ₹15,739 crore—a 15% decline compared to the same period in 2023. The average home price in Bengaluru now stands at ₹62 lakh, a 7% dip from last year.

Sopan Gupta, Principal Partner at Square Yards, noted, “Bengaluru's residential market has seen a modest moderation in transaction momentum, a natural adjustment following rapid growth.” However, he highlighted strong ongoing interest, especially in Bengaluru’s northern micro-market, driven by continued infrastructure development, such as metro expansion and tech-sector growth. This demand is expected to translate into transactions in upcoming quarters as festive season interest materializes.