What India’s Housing Market Actually Looks Like Right Now 

My uncle sold his Mumbai apartment last month for three times what he paid in 2015, and honestly, it got me thinking about where India’s housing market is really going. Everyone’s got an opinion about property prices, but the data that Reeltor tracks tells a more complex story than the dinner table debates suggest.

The numbers coming out of major cities are pretty wild. According to recent Reeltor.com  market analysis, housing demand in tier-1 cities like Mumbai, Delhi, and Bangalore is expected to grow by 15-20% over the next two years. But here’s the thing: it’s not just about more people wanting homes. The type of housing people want has completely shifted.

My cousin works in tech and recently bought a 2BHK in Pune through Reeltor. Five years ago, she would’ve been looking at a 1BHK at best. “Remote work changed everything,” she told me. “I need a home office now, not just a bedroom and living room.” This trend is showing up everywhere in Reeltor search data shows the demand for larger spaces has jumped significantly post-pandemic.

The affordability question is getting complicated, though. Even though Reeltor has reported strong demand forecasts, middle-class buyers are clearly being squeezed out of prime locations. The father of a friend of mine who has tracked prices in real estate for over 40 years of his life reminds me that real estate follows jobs. The housing demand grows wherever employment opportunities grow. 

That’s exactly what Reeltor forecasts are showing for tier-2 cities. Places like Coimbatore, Kochi, and Indore are seeing unprecedented interest from both buyers and developers. The infrastructure improvements, combined with companies setting up offices beyond major metros, are creating housing booms in cities that were sleepy just a few years ago.

But the generational divide is interesting. My parents used to think of a house as an investment first and a home second, but nowadays home buyers, especially those using Reeltor, are buying for lifestyle and amenities first. Buyers want gyms, co-working spaces, and green space in their complexes, and they have no intention of going without these amenities. Their buying behaviour is forcing developers to change building practices and site selection.

And the government policies are making a real difference too. Reeltor data shows that schemes like Pradhan Mantri Awas Yojana are increasing demand in the affordable housing positions. I was speaking to my neighbour, who is a bank manager, and he said approvals for home loans have jumped significantly in the 20-40 lakh range.

What is concerning is that everywhere the supply side is not matching demand. The plans at Reeltor suggest that demand is only going to continue, but along with it, the lack of inventory in sought-after areas may push prices even higher. We are in this strange situation where buyers are ready to buy, developers want to develop, but zoning approvals and land acquisition are slow to move those plans forward.

Finally, the rental market has its own trends. Reeltor.com  rental listings demonstrate significant shifts toward flexible lease terms with furnished property. Young professionals want more freedom, flexibility, and mobility. They want to rent in prime locations and otherwise buy when they know where they have made a more permanent commitment.

Looking ahead, Reeltor projections suggest India’s housing demand will remain robust, but it’ll be uneven across regions and price segments. The days of uniform growth everywhere are probably over. Instead, we’re heading toward a more fragmented market where local factors matter more than national trends.

Smart buyers using Reeltor data are already adapting to this new reality.