While the premium to luxury end of India’s property market is thriving, the dramatic shortage at the low-to-mid-end is coming under scrutiny
3-MIN READ3-MINNicholas SpiroNicholas Spiro is a partner at Lauressa Advisory, a specialist London-based real estate and macroeconomic advisory firm. Published: 5:30am, 4 Aug 2026India’s property market has gone from strength to strength. All the main sectors continue to perform extremely well. Last year, take-up of shopping centre and warehouse space reached record highs. In the first half of this year, office leasing volumes rose to their second-highest level for the period on record, while new flat sales in the eight largest cities delivered one of the strongest half-yearly performances in 12 years.Even the institutional investment market, the least liquid among the largest economies in the Asia-Pacific, has taken off. In 2024-25, transaction volumes reached nearly US$20 billion, more than double the amount recorded in 2021-22.
In 2018, flats priced below 5 million rupees (US$52,000) accounted for 52 per cent of launches in India’s largest cities, according to data from Knight Frank. By the end of last year, the share stood at just 17 per cent.
