Office absorption in the quarter also hit a record level with 28.2 million square feet being leased, a 74 per cent rise on year, the report said.
Residential sales in Q4 of FY25 across the top 8 markets in the country rose a modest 2 per cent and launches by 3 per cent, according to Knight Frank India’s quarterly data on the sector.
Office absorption in the quarter also hit a record level with 28.2 million square feet being leased, a 74 per cent rise on year, the report said.
Residential demand
The demand for housing sustained during the quarter in the 8 markets surveyed, with a total of 88,274 units being sold, though five of the markets saw negative to flat growth. Pune and Chennai saw a robust rise in sales.
The National Capital Region and Bengaluru saw a fall in sales due to the higher prices, that had an effect on affordability. During the quarter Bengaluru saw a price rise of 7 per cent and NCR of 6 per cent.
More than 96,300 units were launched in the quarter, with Bengaluru and Pune recording the most growth.
With launches surpassing sales, unsold inventory has increased 5 per cent in the quarter, but with sales still at good levels the inventory is at manageable levels, Knight Frank said. The current inventory stands at 5.9 quarters to sell, the same level as year ago.
Some price segments are however seeing an inventory overhang such as those houses in the ₹20-50 crore range.
Office demand
Bengaluru saw a 3.5 times increase in office leasing, while Pune saw a 91 per cent increase, followed by 56 per cent increase in Chennai, the data showed.
The demand in office leasing was led by Global Capability Centres, accounting for close to half of the demand.
New office supply however saw a fall at 5.5 msf, as developer interest is still focused on residential projects.
Published on April 3, 2025