Housing sales volume up 14pc in Bengaluru to 52 mn sq ft during Apr-Sep: ICRA

New Delhi, Nov 24 (PTI) Bangaluru’s housing market has witnessed a 14 per cent growth in sales volume to 52 million sq ft during the first half of this fiscal on strong demand, according to credit rating

agency ICRA.

The sales volumes might rise 3-5 per cent during the 2025-26 fiscal, it projected.

The rating agency said that the Bengaluru residential real estate market has already seen a strong uptake in the first half of this fiscal.

Area sold stood at 52 million square feet during April-September period of this fiscal, a 14 per cent year-on-year growth, it added.

“Sales in the second half are expected to remain steady on a yearly basis, with the launch pipeline largely concentrated in the fourth quarter,” ICRA said.

The agency projected a 3-5 per cent increase in area sold during the fiscal year 2026, driven by sustained demand in the mid-income and luxury segments.

Bengaluru city, which is the fourth largest residential market among India’s top seven cities, accounted for 14-15 per cent of the total area sold across these seven metros between FY21 and FY25, ICRA said.

In 2023-24, the sales volumes stood at 102 million square feet, but it fell marginally in FY25 to 99 million square feet.

The report is based on data from PropEquity and ICRA Research.

The top seven cities include the Mumbai Metropolitan Region (MMR), Delhi-NCR, Bengaluru, Hyderabad, Pune, Kolkata, and Chennai.

Commenting on the demand trend, Bengaluru-based Sattva Group President ( Sales, Marketing and CRM) Karishmah Siingh, said, the demand is driven by the growth of the IT sector and also vibrant startups ecosystem.

“As the IT and GCC sectors expand, they are shaping new patterns of homeownership built around proximity, lifestyle, and long-term security. Families are seeking integrated communities that support both professional and personal well-being, signalling a more mature and resilient housing market.” Anjana Sastri, Director – Marketing of Sterling Developers, noted that Bengaluru remains one of the most attractive destinations for real estate investment in India, driven by strong fundamentals, rapid urbanisation, consistent economic growth, and a robust employment environment.

“The city’s thriving IT industry, its expanding start-up ecosystem, and cosmopolitan appeal have ensured sustained interest from professionals, entrepreneurs, and NRIs alike,” Sastri added.

Ramji Subramaniam, Managing Director of Sowparnika Projects, said Bengaluru city, as India’s AI and tech capital, continues to attract end-users, global investors, and a growing migrant workforce looking for quality life and long-term value.

Bhavesh Kothari, Founder & CEO of Property First, said, “the consistent momentum in mid-income and luxury housing reflects not only rising disposable incomes but also a decisive shift towards organised, well-capitalised developers who prioritise execution certainty and long-term value.” PTI MJH MJH DR DR