The number of homes delivered in India's top 9 cities has risen by 33% to 4,06,889 units in FY25, with only Delhi-NCR witnessing a Y-o-Y decline, according to a PropEquity report.
With this, the total number of homes delivered in the last three financial years stood at over 10 lakh units. The top nine cities are Bengaluru, Chennai, Hyderabad, Kolkata, Delhi-NCR, Mumbai, Thane, Navi Mumbai, and Pune. Delhi-NCR bucked the trend with an 8% decline in the number of homes delivered in FY25.
The other 8 cities witnessed 22-88% growth in the number of homes delivered, with Kolkata (88%) rising the most and Mumbai (22%) rising the least in FY25.
Samir Jasuja, Founder and CEO of PropEquity, said, "More than 1 lakh homes have been delivered in FY25. The cause of this surge is due to the delivery of homes launched in 2018/19, the construction of which experienced some slowdown due to the pandemic and other factors. The deliveries have also been expedited due to the government's SWAMIH (Special Window for Affordable and Mid-Income Housing) Fund. The strict compliance and implementation under RERA have also played a major role in developers adhering to project delivery timelines."
"The positive market sentiments over the past few years have ensured strong cash flows and faster project executions. As reputed and branded developers increase their market share, this trend in the delivery of homes is expected to continue. SWAMIH 2.0 will also play a significant role in expediting the delivery of stalled projects."
In FY 2024-25, the total number of units delivered across key Indian cities rose by 33% to 406,889 units compared to 306,600 units in FY 2023-24. Hyderabad led with the highest growth at 61%, followed by Kolkata at 88%, Chennai at 49%, Pune at 41%, Thane at 39%, Navi Mumbai at 37%, and Bengaluru at 26%. Mumbai recorded a modest increase of 22%, while Delhi NCR was the only region to see a decline, with an 8% drop in deliveries. Regarding market share for FY 2024-25, Mumbai commanded the highest with 55%, followed by Bengaluru at 30% and Delhi NCR at 11%, with Kolkata accounting for 4%.
According to the report, Western India (Mumbai, Navi Mumbai, Thane, and Pune) accounted for 55% of the total homes delivered in FY25, a rise from 53% in FY24. Southern India (Bengaluru, Chennai, and Hyderabad) accounted for 30%, a rise from 28% in FY24. Kolkata accounted for a 4% share in FY25, a rise from 3% in FY24.
Delhi-NCR accounted for an 11% share in FY25, a decline from 16% in FY24. The most number of homes were delivered in Pune at 81563 units (41% Y-o-Y growth), followed by 77017 units in Thane (39% Y-o-Y growth), 57304 units in Hyderabad (61% Y-o-Y growth), 46103 units in Bengaluru (26% Y-o-Y growth), 44423 units in Delhi-NCR (8% Y-o-Y decline), 41999 units in Mumbai (22% Y-o-Y growth), 21112 units in Navi Mumbai (37% Y-o-Y growth), 19650 units in Chennai (49% Y-o-Y growth) and 17718 units in Kolkata (88% Y-o-Y growth).
