New Delhi, Oct 28 (NationPress) Premium residences priced above Rs 1 crore experienced a 4 percent year-on-year (YoY) increase in sales during the initial nine months of 2025, according to a report released on Tuesday.

This rise was predominantly fueled by a 10 percent surge in demand for properties within the Rs 1.5 to 3 crore range, as highlighted by the findings from commercial real estate firm JLL India.

While the premium housing segment expanded its market share in year-to-date (YTD) sales until September, the proportion of properties priced below Rs 1 crore fell from 48 percent to 38 percent compared to the same timeframe last year.

Bengaluru, Mumbai, and Pune collectively represented over 60 percent of residential sales volume across India's seven major cities during the January-September 2025 period.

Overall residential sales saw a 12 percent decline YoY, totaling 2,02,756 units during the January-September 2025 timeframe. This downturn was attributed to persistently high property prices, the seasonal impacts of the monsoon, and a pre-festive decline in housing demand.

Nevertheless, the Indian housing market displayed a recalibration, retaining robust underlying fundamentals, as reflected in the uptick in premium housing sales, the report indicated.

New home launches priced above Rs 1 crore rose by 5 percent, with a slight YoY decrease observed in overall project launches until September.

In the third quarter of 2025, home prices across India's seven principal cities continued their upward trend, with annual increases ranging from 6 percent to 16 percent. Kolkata led the growth with 16 percent, followed by Chennai at 14 percent. Delhi NCR and Bengaluru recorded 13 percent price growth, as noted in the report.

Looking ahead, JLL India anticipates that apartment prices will keep climbing due to strong demand for luxury homes, low inventory levels, and developers' pricing strategies, even as sales are expected to moderate.