Housing Plots in High Demand: Rs 2.44 Lakh Cr Launched

New Delhi, Jul 15 (PTI) Housing plots worth Rs 2.44 lakh crore have been launched in past three and half years because of higher demand post-Covid pandemic, according to PropEquity.

Real estate data analytic firm PropEquity data showed that nearly 4.7 lakh residential plots have been launched by developers between January 2022 and May 2025 across 10 tier-I and tier-II cities.

These cities are Hyderabad, Indore, Bengaluru, Chennai, Nagpur, Jaipur, Coimbatore, Mysore, Raipur and Surat.

"The estimated launch value of the residential plots in 10 tier I-II cities between 2022 and 2025 (May) is approximately Rs 2.44 lakh crore," PropEquity Founder and CEO Samir Jasuja said in a statement on Tuesday.

The demand for residential plots has risen in the past few years as this asset class is more liquid with potential of higher appreciation than apartments, he added.

Jasuja said many prospective customers prefer plots as they desire to customise their living space.

As per the data, the supply of residential plots in these 10 cities fell 23 per cent annually in 2024 to 1,26,556 plots from 1,63,529 plots in the preceding year.

PropEquity said 45,591 residential plots have been launched during the the first five months of 2025.

"For developers, plots generate quick cash flow as they involve faster sales and less upfront investment as compared to apartments," the company said.

The weighted average launch price of residential plots in these 10 cities rose 27 per cent annually in 2024 to Rs 3,679 per sq ft, which translates to Rs 33,111 per square yard and Rs 39,586 per square metre.

Commenting on the report, Kirthi Chilukuri, Founder and MD of Stonecraft Group, said, "The surge in plotted development across India's cities reflects a growing desire among people for ownership and personalisation."

Yashank Wason, Managing Director, Royal Green Realty, said, "Indore's rise among the top three plotted development markets is a testament to its evolution into a dynamic real estate destination."

Sam Chopra, President and Country Head, eXp Realty India, said the launch of 4.7 lakh plots in these 10 cities in just over three years reflects a decisive shift in buyer behaviour, from built-up units to land ownership.