What is the story about?
Homes priced between ₹50 lakh and ₹1 crore have emerged as the top choice for Indian homebuyers between 2022 and 2024, accounting for 35% of total housing demand in 2024 — up from 28% in 2022.
These
and other key consumer insights come from a new analysis by leading real estate services firm ANAROCK, based on data from its proprietary AI platform, ASTRA.
The report highlights significant behavioural shifts across buyer budgets, age groups, decision-making timelines, and purchase channels — all captured and analysed through AI-driven models built on more than 2.8 million qualified leads.
“AI has enabled us to decode real-time buyer behaviour at an unprecedented scale,” said Aayush Puri, Head – ANAROCK Channel
Partner & ANACITY. “From budget preferences to booking timelines, we can now track and predict patterns that were previously overlooked in manual processes.”
₹50 Lakh–₹1 Crore Homes Lead the Market
The ₹50 lakh–₹1 crore budget bracket has consistently recorded the highest share of housing demand over the past three years:
Demand for budget homes (below ₹25 lakh) fell from 16% in 2022 to 14% in 2024. At the other end of the spectrum, homes priced between ₹1 crore and ₹2 crore recorded a steady
increase in demand, rising from 14% to 17% in the same period.
In a notable development, homes priced above ₹1 crore surged in popularity in 2024, with their market share jumping from 18% in 2023 to 32% in 2024 — driven largely by buyers aged over 41.
Longer Decision Timelines, Quicker High-Value Conversions
The average time from enquiry to booking rose slightly from 25 days in 2022 to 28 days in 2024. However, luxury homes priced above ₹3 crore bucked this trend, with average decision timelines falling sharply to just 16 days in 2024,
signalling faster moves by high-net-worth buyers.
Buyer Demographics Shift Towards Older Age Groups
While the 31–35 age group had long been the largest segment of homebuyers, ANAROCK’s latest data shows a shift:
Changing Home Configurations and Lifestyle Preferences
Unit size preferences
are also shifting. The share of 3BHK homes rose from 38% in 2022 to 45% in 2024, reflecting evolving lifestyle needs and the influence of remote and hybrid work models. In contrast, demand for 1BHK units has fallen significantly.
Brokers Gain as Digital Channels Lose Ground
Digital platforms — such as developer and aggregator websites — accounted for 35% of homebuyer leads in 2022, but this fell to 30% in 2024. Meanwhile:
Channel partners saw strong traction in both the ₹50 lakh–₹1 crore and ₹3 crore+ segments, underscoring the growing importance of trusted advisory and personal selling in both mass-market and premium categories.
AI Reshaping Real Estate Brokering
The findings are powered by ASTRA, ANAROCK’s AI engine, which uses 74 behavioural models to analyse millions of consumer data points. Its capabilities include:
By replacing traditional lead scoring and manual profiling, AI tools are driving a marked improvement in conversion efficiency and customer segmentation.
“AI allows us to move from gut feeling to data-backed decision-making,” said Puri. “It helps brokers and developers identify who is likely to buy, when, and what — and to tailor their outreach accordingly.”
As AI adoption accelerates, India’s real estate sector is entering a new era of intelligent, technology-driven brokering — one that is closely aligned with the expectations of an increasingly discerning and digitally savvy buyer base.
These
The report highlights significant behavioural shifts across buyer budgets, age groups, decision-making timelines, and purchase channels — all captured and analysed through AI-driven models built on more than 2.8 million qualified leads.
“AI has enabled us to decode real-time buyer behaviour at an unprecedented scale,” said Aayush Puri, Head – ANAROCK Channel
₹50 Lakh–₹1 Crore Homes Lead the Market
The ₹50 lakh–₹1 crore budget bracket has consistently recorded the highest share of housing demand over the past three years:
- 28% in 2022
- 32% in 2023
- 35% in 2024
Demand for budget homes (below ₹25 lakh) fell from 16% in 2022 to 14% in 2024. At the other end of the spectrum, homes priced between ₹1 crore and ₹2 crore recorded a steady
In a notable development, homes priced above ₹1 crore surged in popularity in 2024, with their market share jumping from 18% in 2023 to 32% in 2024 — driven largely by buyers aged over 41.
Longer Decision Timelines, Quicker High-Value Conversions
The average time from enquiry to booking rose slightly from 25 days in 2022 to 28 days in 2024. However, luxury homes priced above ₹3 crore bucked this trend, with average decision timelines falling sharply to just 16 days in 2024,
Buyer Demographics Shift Towards Older Age Groups
While the 31–35 age group had long been the largest segment of homebuyers, ANAROCK’s latest data shows a shift:
- In 2024, buyers aged 36–40 became the largest group.
- Buyers under 25 dropped to just 4% in 2024, compared with 8% in 2020.
- The share of buyers aged over 41 continues to rise, particularly in higher-value segments.
Changing Home Configurations and Lifestyle Preferences
Unit size preferences
Brokers Gain as Digital Channels Lose Ground
Digital platforms — such as developer and aggregator websites — accounted for 35% of homebuyer leads in 2022, but this fell to 30% in 2024. Meanwhile:
- Channel partner-led bookings rose from 28% in 2022 to 32% in 2024.
-
Offline/direct bookings increased slightly from 25% to 28%.
- Referral-based leads remained steady at around 12%.
Channel partners saw strong traction in both the ₹50 lakh–₹1 crore and ₹3 crore+ segments, underscoring the growing importance of trusted advisory and personal selling in both mass-market and premium categories.
AI Reshaping Real Estate Brokering
The findings are powered by ASTRA, ANAROCK’s AI engine, which uses 74 behavioural models to analyse millions of consumer data points. Its capabilities include:
- Predictive analytics for buyer intent
- AI-based lead scoring for targeted sales
- Personalised recommendations and virtual tours via chatbots
By replacing traditional lead scoring and manual profiling, AI tools are driving a marked improvement in conversion efficiency and customer segmentation.
“AI allows us to move from gut feeling to data-backed decision-making,” said Puri. “It helps brokers and developers identify who is likely to buy, when, and what — and to tailor their outreach accordingly.”
As AI adoption accelerates, India’s real estate sector is entering a new era of intelligent, technology-driven brokering — one that is closely aligned with the expectations of an increasingly discerning and digitally savvy buyer base.
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