CNN Central News & Network–ITDC India Epress/ITDC News Bhopal: The festive quarter of 2025, especially with Diwali being a part of it, has brought a renewed wave of optimism for India’s real estate market, marking one of the strongest festive performances in recent years. Early data and developer insights point to record sales, robust price growth, and a decisive tilt towards premium and luxury housing.
Sales Momentum Peaks Across NCR and Metros
According to ANAROCK Research, about 102,000 housing units were sold across the top seven cities during the festive quarter of 2024. This year, industry trackers indicate a 20–25% year-on-year jump, led by Delhi-NCR, Bengaluru, and Hyderabad. Knight Frank India reports that NCR recorded the sharpest 24% annual increase in housing prices during July–September 2025 — the highest among major cities — cementing its position as India’s most dynamic property market. IBRF, a Delhi-based research firm, also reported a major increase in sales of around 15-20% in the luxury market and with new inventory being launched for mid-segment buyers in regions like Yamuna Expressway, Wave City (NH-24, Ghaziabad) and in Greater Noida, this segment itself saw a surge of over 25% during the Diwali festive season.
The buying spree is being driven by policy stability, strong sentiment, and festive enthusiasm. Developers say enquiries are translating into quicker bookings, especially for ready or near-possession homes.
Policy Boost: Repo Stability and GST Sentiment Spur Demand
Two macro triggers are fuelling this momentum — repo rate stability and the sentiment around GST rationalisation. The Reserve Bank of India’s decision to maintain a steady rate environment, coupled with expectations of future cuts, has boosted buyer confidence. Renewed discussions on GST relief for under-construction homes have also lifted sentiment.
“Low interest rates and positive economic cues, including the recent repo rate stability and GST relief sentiment, have encouraged fence-sitters to act,” says Yukti Nagpal, Director, Gulshan Group. “This year’s festive cycle has outperformed expectations, with sales and bookings already up by around 20-30% compared to the same period last year. The luxury segment, particularly in Noida-Greater Noida, is dominating festive demand. Homebuyers are stepping into this segment with confidence, aided by flexible payment plans and improved financing options. We’re also seeing faster decision-making and bulk festive bookings both by investors and buyers; a sharp shift from the cautious approach seen in previous festive seasons. Overall, this festive cycle reflects a maturing market where aspiration, financial prudence, and lifestyle priorities are harmoniously driving India’s real estate momentum.”
Bhupindra Singh, COO, RISE Infraventures, says, “This festive season, Delhi-NCR’s real estate market has seen a noticeable rise in sales and bookings, particularly in mid and premium housing segments. Developers attribute this growth to festive sentiment, well-timed project launches, and attractive pricing. The recent GST cuts on key construction materials like cement, bricks, and ready-mix concrete are expected to lower construction costs by 3–5%, potentially easing home prices slightly for buyers. Combined with festival-driven enthusiasm, these measures are encouraging end-users and investors to act promptly. Overall, the festive season and favorable GST reforms are driving strong demand, giving new and upcoming projects a boost in Delhi-NCR.”
Luxury Leads the Festive Momentum
Luxury and upper-mid housing have emerged as the clear winners this season. Transaction values have surged, reflecting buyers’ shift towards larger, amenity-rich homes backed by rising incomes and lifestyle aspirations.
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