Under-Construction Residential Supply Rises 46.8% YoY: Magicbricks

India's under-construction residential supply surged 46.8% year-on-year, driven by robust market demand, according to Magicbricks Research. Bengaluru led the growth with a remarkable 114% YoY increase, followed by Gurugram at 98%. In the last quarter alone, supply grew 10.97%, with Gurugram (30.97%), Kolkata (27.80%), and Bengaluru (27.39%) showing the highest increases.
The average price of under-construction properties across major cities is ₹12,064 per square foot. Affordable options are available in Ahmedabad (₹6,708 psf), Kolkata (₹7,259 psf), and Greater Noida (₹8,281 psf). Meanwhile, Bengaluru (₹10,988 psf), Noida (₹11,706 psf), and Navi Mumbai (₹11,738 psf) dominate the affordable luxury segment. Gurugram (₹14,579 psf), New Delhi (₹18,150 psf), and Mumbai (₹27,725 psf) cater to premium buyers.
The surge in under-construction projects reflects developers' efforts to meet rising demand, highlighting the resilience of India's residential real estate market across both affordable and premium segments.