Homebuyers move up price ladder: Rs 1.5-3 cr housing sales jump 58% in H1

India’s residential property market continued to expand in the first half of 2026, but the biggest trend was a sharp shift towards premium housing as buyers increasingly opted for homes priced above Rs 1 crore.

According to JLL, residential sales across seven major cities rose 3 per cent year-on-year to 138,382 units during January-June 2026, while new launches increased 9 per cent to 168,507 units.

However, the growth was far from uniform across price segments.

Sales of homes priced between Rs 1.5 crore and Rs 3 crore surged 58 per cent year-on-year to 51,231 units, making it the fastest-growing category. Homes priced above Rs 1 crore accounted for 71 per cent of all residential sales in H1 2026, up from 62 per cent a year earlier.

In contrast, affordable and mid-income housing continued to lose market share.

Market evolution reflects changing buyer preferences and aspirations

Source: Real Estate Intelligence Service (REIS), JLL Research

Sales of homes priced below Rs 50 lakh declined 32 per cent, while the Rs 50 lakh-Rs 1 crore segment fell 20 per cent. Together, homes priced below Rs 1 crore accounted for just 28 per cent of total sales, down from 39 per cent in H1 2025.

Bengaluru, Chennai lead sales growth

Among cities, Bengaluru recorded the strongest sales among major markets, with transactions rising 16 per cent year-on-year to 35,017 units during H1 2026.

Chennai posted the fastest percentage growth, with sales jumping 27 per cent to 8,587 units, while Delhi-NCR grew 7 per cent to 20,761 units.

Sales declined in Pune (-14 per cent), Hyderabad (-3 per cent), Mumbai (-1 per cent) and Kolkata (-1 per cent).

Bengaluru, Mumbai, Pune and Delhi-NCR together accounted for nearly three-fourths (76 per cent) of residential sales during the six-month period.

Developers step up launches

Developers launched 168,507 housing units in H1 2026, up 9 per cent from a year earlier, indicating confidence that demand will remain healthy.

Bengaluru led supply additions with 48,748 units, a 41 per cent increase over last year. Mumbai recorded an 18 per cent rise in launches, while Delhi-NCR saw a 14 per cent increase.

Prices continue to rise

Residential prices continued their upward trajectory across all seven cities, with annual appreciation ranging between 6 per cent and 15 per cent.

Bengaluru recorded the highest price growth at 15 per cent, followed by Chennai and Kolkata at 13 per cent, supported by higher construction costs and sustained demand for premium housing.

JLL expects housing demand to remain resilient in the coming quarters, supported by infrastructure development, urbanisation, rising incomes and improved connectivity. While sales moderated sequentially in the April-June quarter, the consultancy attributed this to seasonal factors and buyers taking longer to make purchase decisions rather than any deterioration in underlying demand.

“The H1 2026 performance underscores the maturity of India’s residential sector, with 138,382 units sold representing a solid 3% Y-o-Y growth despite temporary quarterly moderation. The fundamentals remain compelling, sustained urbanization, infrastructure development, and rising aspirations continue to drive homebuying decisions. What is particularly encouraging is the shift toward quality and quantum, with the INR 1-3 crore segment surging 58% Y-o-Y, demonstrating that buyers are increasingly willing to invest in well-located, premium developments that offer long-term value. The 9% increase in new launches to 168,507 units reflects strong developer confidence,” said Siva Krishnan, Senior Managing Director (Chennai & Coimbatore), Head – Residential Services, India, JLL.

“As property prices stabilize and buyers adjust to current market conditions, we expect sales momentum to improve in subsequent quarters. Ongoing infrastructure investments, expanding metro networks, improving connectivity, and development of new growth corridors, combined with enhanced access to housing finance and rising income levels, will continue to support homebuying decisions across diverse segments.” he added.

Key highlights:

H1 2026 apartment sales reached 138,382 units, marking a 3% Y-o-Y (year-on-year) increase.

Bengaluru led half-yearly sales, with 16% Y-o-Y increase, while Chennai posted 27% growth.

Bengaluru, Mumbai, and Pune maintained their leadership in India’s housing sector, collectively accounting for ~62% of residential sales volume during H1 2026.

New housing supply surged 9% Y-o-Y in H1 2026, with 168,507 units launched across top seven cities.

Bengaluru led launch activity with 41% Y-o-Y growth in H1 2026, followed by Mumbai at 18% and Delhi NCR at 14%,

Capital values across major cities continued their upward trajectory, supported by strong fundamentals, elevated construction costs, and consistent buyer demand