Jaipur’s housing market showed modest growth in 2024, with sales rising by 5% to 10,695 units, according to data from real estate analytics firm PropEquity. However, the value of these sales saw a significant increase, jumping 39% to Rs 8,388 crore, up from Rs 6,019 crore in 2023.
Samir Jasuja, Founder of PropEquity, attributed the higher growth in sales value to the rising input costs of real estate projects, driven by increases in land prices, labor costs, and construction materials. Additionally, Jasuja pointed out that developers have been focusing on launching more premium and luxury housing projects, which has further boosted the sales value.
PropEquity’s data also revealed trends across 15 major tier-II cities, where total housing sales rose 4 per cent in 2024, reaching 1,78,771 units, compared to 1,71,903 units the previous year. In terms of value, sales increased by 20%, reaching Rs 1,52,552 crore in 2024, up from Rs 1,27,505 crore in 2023.
The 15 cities included in the study were Ahmedabad, Surat, Vadodara, Gandhinagar, Nashik, Jaipur, Nagpur, Bhubaneswar, Mohali, Visakhapatnam, Lucknow, Coimbatore, Goa, Bhopal, and Trivandrum. The findings highlight the ongoing growth of India’s real estate sector, driven by the increasing demand for premium properties in both metro and tier-II cities.
(With PTI Inputs)