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Over the past three and a half years, Indian developers have launched residential plots worth an estimated INR 2.44 lakh crore across 10 prominent tier-I and tier-II cities, according to PropEquity. A total of nearly 4.7 lakh plots were introduced between January 2022 and May 2025. Cities like Hyderabad, Indore, Bengaluru, and Chennai led the trend, driven by rising demand for customisable homes and long-term investment potential. Despite a 23% annual decline in supply in 2024, prices surged 27% year-on-year, highlighting continued interest. The first five months of 2025 alone witnessed over 45,000 new plot launches.
Indian real estate developers have launched approximately 4.7 lakh residential plots valued at around INR 2.44 lakh crore across 10 tier-I and tier-II cities between January 2022 and May 2025, according to market intelligence firm PropEquity. The data reflects a structural shift in buyer preferences, with increased inclination toward land ownership following the COVID-19 pandemic. Advertisement
The plotted developments span across Hyderabad, Indore, Bengaluru, Chennai, Nagpur, Jaipur, Coimbatore, Mysore, Raipur, and Surat. These markets have seen heightened traction as buyers increasingly seek assets that offer flexibility in construction, higher appreciation potential, and better liquidity when compared to built-up apartments.
Samir Jasuja, Founder and CEO of PropEquity, stated that the cumulative launch value of plotted developments in these 10 cities over the past three-and-a-half years is estimated at approximately INR 2.44 lakh crore. He pointed out that residential plots have become more attractive to end-users and investors alike, as they provide the option to personalise homes while also serving as liquid, appreciating assets.
The demand spike, however, has not translated into continuous growth in supply. In 2024, the supply of new residential plots declined by 23% year-on-year to 1,26,556 units, down from 1,63,529 in 2023. Despite this dip, the market showed sustained activity, with 45,591 plots launched in just the first five months of 2025.
Developers too are leveraging the benefits of plotted developments. According to PropEquity, such projects require less upfront capital, are easier to market, and generate quicker cash flows compared to apartments, making them a preferred format amid rising land acquisition and construction costs.
The average launch price of residential plots in these cities also saw a sharp increase. In 2024, the weighted average rate rose by 27% to INR 3,679 per sq ft equivalent to INR 33,111 per square yard or INR 39,586 per square metre. This price hike is reflective of the strong end-user and investor confidence in land as a real estate product.
Industry leaders echoed these sentiments. Kirthi Chilukuri, Founder and Managing Director of Stonecraft Group, noted that the shift toward plotted development signifies a growing consumer desire for personalisation and ownership. Yashank Wason, Managing Director of Royal Green Realty, observed that Indore's rise to one of the top three markets for plotted development is evidence of the city's emergence as a dynamic real estate hub. Meanwhile, Sam Chopra, President and Country Head of eXp Realty India, highlighted that the launch of 4.7 lakh plots in just over three years points to a definitive change in buyer behaviour, with a clear preference for land over traditional built-up units.
These insights underscore the evolving dynamics of India's real estate sector, especially in emerging cities that are gaining traction among homebuyers seeking long-term value and design flexibility.
Source PTI
5th Jun, 2025
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