Housing sentiment index rebounds despite the prices staying high

India's housing market is witnessing a steady resurgence despite prices staying elevated, according to the Magicbricks Housing Sentiment Index (HSI) for the quarter through September. After dipping to 138 from 156 in the previous round, the HSI has rebounded to 142 in the latest survey.

The survey highlights a reshuffling of city rankings, with Chennai emerging as the top-performing city, followed by Noida/Greater Noida and Kolkata.

Affordable and emerging markets are outpacing luxury hubs, driven by new infrastructure, commercial growth and project launches, with buyers gravitating toward well-connected outskirts for better value, Magicbricks said in a report.


The mid-market segment, priced ₹1.0-₹1.5 crore, is the most active with an HSI of 149. As much as 39% of buyers prefer homes in the ₹20-₹75 lakh range and another 39% in ₹75 lakh-₹1.5 crore.

According to the report, buyer preferences are shifting, with builder floors overtaking plots due to semi-customisable layouts and faster delivery. Semi-furnished, compact units of 500-1,000 sq ft are the most preferred, it said. Millennials and Gen Y remain key demand drivers, while Gen Z and Baby Boomers show steady sentiment, the report said. Professionals in stable sectors and those earning ₹10-₹30 lakh annually displayed the strongest optimism, driven by rising incomes and fear of missing out over price gains, Magicbricks said.