Apartment Prices Rise Up to 20% Across Top Indian Cities as Supply Expands

India’s residential real estate market continued its upward momentum in the first quarter of 2026, with apartment prices rising between 8% and 20% across the country’s top seven cities. According to the latest data released by JLL India, the steady price appreciation reflects strong demand fundamentals, rising input costs, and a clear shift toward premium housing.

The seven key cities covered in the report include Delhi NCR, Mumbai, Bengaluru, Pune, Chennai, Hyderabad, and Kolkata. Together, these markets represent the core of India’s urban housing demand and continue to attract both end users and investors.

Interestingly, new apartment supply saw a significant jump of 13% year on year, reaching 90,023 units during the January to March period. At the same time, housing sales also grew by 8%, touching 70,631 units. While supply growth has outpaced sales, it indicates developer confidence and a strong pipeline of upcoming projects.

However, the demand pattern is clearly shifting. Sales of homes priced below ₹50 lakh declined sharply by 24%, suggesting reduced activity in the affordable housing segment. On the other hand, homes priced above ₹1 crore witnessed a strong 30% growth in sales, highlighting increasing preference for premium and larger homes.

Experts believe that rising land costs, construction expenses, and financing pressures are key factors driving price increases. At the same time, homebuyers are becoming more selective, focusing on trusted developers and well planned projects.

Despite the rise in prices, the outlook remains stable. Industry experts suggest that while prices may continue to increase, the pace of growth could moderate in the coming quarters if buyer sentiment remains cautious.

Overall, the Indian housing market is currently in a balanced phase where strong supply is meeting measured demand, setting the stage for sustainable long term growth.