Despite higher mortgage rates and rising prices, India's residential property market is thriving. The first quarter of the year saw record-breaking sales, with 74,486 apartments sold in the top seven markets. Mumbai, Bengaluru, and Pune led the way, with strong sales in the luxury and mid-income segments. Home loan rates are expected to decrease, boosting the affordable housing sector. Prices have increased by 3-15% from last year, with Bengaluru and Delhi NCR seeing the highest increases. The market is expected to continue its growth momentum in 2024.
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