Registration of housing properties in top 8 cities touches 5.44 lakh units in FY25, up 77% from FY2019: Square Yards
Registration of housing properties stood at 5.44 lakh units in the last financial year across eight major cities, including Mumbai, Bengaluru and Hyderabad
The total number of registered residential transactions across key Indian cities increased from 3.07 lakh units in FY 2019 to 5.44 lakh units in FY 2025, marking a 77% rise, data by the Inspector General of Registration (IGR) accessed by Square Yards showed.
The report also highlights that the primary market transactions took the highest share of 57%, while secondary took the remaining 43% in FY 2025.
During the same period, primary market transactions increased from 1.84 lakh units to 3.11 lakh units. The share of secondary transactions has increased from 38% in FY 2019 to 43% in FY 2025. In terms of volume, secondary transactions grew from 1.22 lakh units in FY 2019 to 2.33 lakh units in FY 2025.
The analysis covered seven major cities: Bengaluru, Hyderabad, Mumbai, Navi Mumbai, Noida and Greater Noida, Pune, and Thane.
Growth of Bengaluru real estate market driven by demand for ready-to-move-in homes
In Bengaluru of the approximately 72,000 residential transactions registered in FY 2025, 54% were from the primary market. This was supported by increased new supply from both established national and local developers across the eastern, southern, and northern micromarkets. The share of secondary market transactions grew notably—from 31% in FY 2019 to 46% in FY 2025—with volumes more than doubling.
This growth was primarily driven by heightened demand for ready-to-move-in homes, underpinned by Bengaluru’s expanding IT sector and the rising influx of professionals seeking immediate occupancy, the report noted.
Noida and Greater Noida real estate markets witness surge in transactions
Noida and Greater Noida real estate markets recorded an increase in transactions by investors and end-users in anticipation of the Noida International Airport
The Noida and Greater Noida region recorded an 11% point increase in the share of secondary market transactions, rising from 29% in FY 2019 to 40% in FY 2025.
These cities are seeing strong end-user and investor interest in the residential sector amid anticipation surrounding the opening of Jewar International Airport. However, new supply is relatively limited in these cities, with the new supply being concentrated in the high-end segment, making resale properties, which are available across broader price bands more appealing to buyers, the report said.
Mumbai real estate market led by secondary transactions
In FY 2025, Mumbai registered approximately 69,000 secondary transactions—up from 36,000 in FY 2019. However, upcoming redevelopment projects in central parts of the city have also contributed to an increase in primary supply. As a result, primary registrations nearly doubled, reaching ~71,000 in FY 2025 from ~35,000 in FY 2019, reflecting a stronger growth rate in the primary segment.
The share of secondary transactions increased by 7%, supported by renewed buyer confidence amid ongoing construction of the Navi Mumbai International Airport, the report said.
Tanuj Shori, CEO and founder, Square Yards, said, "The residential market has witnessed a remarkable V-shaped recovery since the pandemic, as reflected in the sharp rise in annual housing transactions -- from 3.07 lakh units in FY 2019 to 5.44 lakh in FY 2025, a significant 77% increase. This strong growth cycle has been largely driven by a renewed preference for home ownership, which has bolstered primary sales."
"This growing preference for ready-to-move-in homes -- particularly in well-connected and established locations -- has steered more buyers toward the secondary segment. The uptick in secondary sales is evident not only in terms of market share but also in absolute transaction volumes," Shori said.
