Jaipur’s housing market experienced growth in 2024, with sales increasing by 5% to 10,695 units, according to data from real estate analytics firm PropEquity. The value of these sales saw a notable rise of 39%, reaching Rs 8,388 crore, up from Rs 6,019 crore in 2023. Samir Jasuja, Founder of PropEquity, attributed the increase in sales value to rising input costs, including land prices, labor expenses, and construction materials. Additionally, developers have been focusing on launching premium and luxury housing projects, contributing to the higher transaction values.
The real estate sector in Jaipur has been influenced by multiple factors, including infrastructure development, improved connectivity, and increased investor interest. The expansion of road networks, metro rail projects, and government initiatives to promote housing have contributed to the market’s positive trajectory. The city has also emerged as a preferred location for both end-users and investors due to its planned urban development and growing economic opportunities.
PropEquity’s data also highlighted trends across 15 major tier-II cities, where total housing sales increased by 4% in 2024, reaching 1,78,771 units, compared to 1,71,903 units in the previous year. In terms of value, sales saw a 20% rise, reaching Rs 1,52,552 crore in 2024, up from Rs 1,27,505 crore in 2023. The study covered cities such as Ahmedabad, Surat, Vadodara, Gandhinagar, Nashik, Jaipur, Nagpur, Bhubaneswar, Mohali, Visakhapatnam, Lucknow, Coimbatore, Goa, Bhopal, and Trivandrum.
The findings indicate ongoing expansion in India’s real estate sector, with increasing demand for premium properties in both metropolitan and tier-II cities. This shift suggests that buyers are prioritizing higher-value properties, and developers are adjusting their strategies to cater to this demand. The data further underscores the impact of rising costs on property pricing and the growing preference for premium housing options.
Future trends suggest that Jaipur’s real estate market will continue to witness steady demand, driven by the city’s evolving infrastructure and economic growth. With rising aspirations and higher disposable incomes, buyers are showing a greater inclination toward premium residential projects. The increasing involvement of national and regional developers in Jaipur is expected to bring in more modern residential offerings, further strengthening the market.
As urbanization accelerates, Jaipur’s real estate market is poised to benefit from a blend of residential and commercial developments. The demand for quality housing, coupled with ongoing government support for the sector, is expected to sustain the city’s growth momentum in the coming years.
