India’s housing market continues to demonstrate underlying strength, with long-term price trends pointing to steady growth across most regions, according to new research by eXp India. While short-term movements differ from city to city, the broader picture suggests sustained demand, driven by infrastructure development, urbanisation and end-user interest. Among the standout performers, Navi Mumbai has emerged as one of the country’s strongest housing markets over the past year.
The study examined the average quarterly rate of house price growth across 50 locations nationwide, offering a longer-term perspective rather than focusing on short-term volatility. This approach highlights structural trends in residential demand and price movement, revealing a market that remains largely stable despite localised corrections in a few pockets.
Overall, 38 of the 50 housing markets analysed recorded positive price growth based on their average quarterly performance over the last year. Four locations saw prices remain broadly flat, while only eight markets registered a decline. This wide base of positive outcomes underscores the depth of housing demand across India, extending well beyond a handful of traditional metro cities.
Navi Mumbai stood out as one of the top-performing markets in the country, registering an average quarterly price growth of 5.8%, second only to Gurugram. Long regarded as a developing satellite city, Navi Mumbai is increasingly being viewed as a mature residential destination in its own right. Improved connectivity, ongoing infrastructure projects and expanding commercial activity have significantly strengthened its appeal to both homebuyers and long-term investors.
Major infrastructure initiatives, including enhanced rail and road connectivity and the development of new business districts, have played a crucial role in reshaping Navi Mumbai’s real estate landscape. These factors, combined with relatively planned urban development and improving social infrastructure, have helped sustain demand across housing segments. The market’s performance suggests that Navi Mumbai is no longer just a spillover option from Mumbai but a growth corridor with its own strong fundamentals.
Gurugram led the national rankings with an average quarterly growth of 5.9%, reflecting its status as a major corporate and commercial hub. Greater Noida followed in third place with growth of 5.3%, supported by affordability and better connectivity. Bhubaneswar and Noida completed the top five, each recording average quarterly growth of 4.9%, highlighting the rising importance of regional and commuter-led markets.
At the lower end of the spectrum, a limited number of cities saw modest price declines. Kochi recorded the sharpest average quarterly fall at -2.0%, followed by Raipur at -0.9% and Kanpur at -0.5%. Guwahati, Delhi and New Town Kolkata saw smaller declines of around -0.4%. These corrections appear to be localised, influenced by factors such as supply overhangs or slower absorption in specific micro-markets, rather than signs of a nationwide slowdown.
Sam Chopra, Head of eXp India, said the findings underline the importance of assessing housing market performance through a long-term lens. He noted that strong performances in markets such as Gurugram, Navi Mumbai and Greater Noida reflect genuine end-user demand rather than speculative activity, while the limited number of declining markets points to broad-based stability.
The research reinforces the view that India’s housing market is being supported by structural drivers, including rising incomes, sustained infrastructure spending and changing lifestyle preferences. For markets like Navi Mumbai, these fundamentals are translating into consistent price growth, positioning the city as one of the most compelling long-term residential real estate stories in the country.
Source: Realty Plus
