India’s residential real estate market is witnessing a shift towards infrastructure-driven growth, with cities such as Kolkata, Noida and Greater Noida outperforming larger metropolitan markets as buyers increasingly prioritise connectivity, employment hubs and urban infrastructure over traditional metro status.
According to the latest Magicbricks PropIndex report, national residential demand declined 1.2% quarter-on-quarter (QoQ) during April-June 2026. However, infrastructure-led markets bucked the trend, with Kolkata recording the highest demand growth at 7.5%, followed by Noida (5.5%), Greater Noida (4.1%) and Pune (2.1%).
The report suggests that ongoing investments in transport infrastructure, commercial development and integrated urban planning are reshaping buyer preferences. Greater Noida, in particular, continues to benefit from the upcoming Noida International Airport and an expanding expressway network, strengthening its position as an emerging economic corridor.
While demand softened in cities including Hyderabad (-6%), Chennai (-5.8%), New Delhi (-2.9%) and Bengaluru (-1.8%), Mumbai remained largely stable with a marginal 0.6% increase.
Residential supply across India increased 1.2% QoQ, led by Bengaluru (3.7%), Gurugram (3.1%), Hyderabad (2.9%) and Kolkata (1.7%). Notably, Noida and Pune witnessed declining supply despite stronger buyer demand, indicating potential supply constraints in high-growth markets.
Residential prices rose 1% nationally during the quarter. Greater Noida recorded the highest appreciation at 1.9%, followed by Hyderabad (2.4%), Bengaluru (1.9%), Gurugram (1.8%) and Kolkata (1%), reflecting sustained confidence in infrastructure-backed growth corridors.
Commenting on the findings, Prasun Kumar, Chief Marketing Officer, Magicbricks, said: “Homebuyers today are choosing infrastructure ecosystems as much as cities. Markets with stronger connectivity, employment opportunities and affordable housing are attracting greater buyer interest, even as overall market activity moderates.”
The report also highlighted evolving housing preferences, with 2 BHK homes accounting for 42% of buyer demand and 3 BHK units contributing 37%, together representing nearly four-fifths of total residential demand. On the supply side, 3 BHK homes accounted for 46% of available inventory.
The findings underscore how investments in transport infrastructure, economic corridors and urban connectivity are increasingly influencing residential demand, positioning emerging growth centres such as Kolkata, Noida and Greater Noida as key beneficiaries of India’s next phase of urban development.
