Jaipur's Real Estate: Surging Values Amidst Stagnant Sales

Housing sales in Jaipur rose by 5% in 2024, reaching 10,695 units, while the value jumped 39% to Rs 8,388 crore, according to PropEquity. The increase in sales value is attributed to higher input costs and a shift towards premium and luxury projects. Tier-II cities saw a 4% increase in sales units.

Housing sales in Jaipur saw a modest rise of 5% to 10,695 units in 2024, yet their value soared by 39% to Rs 8,388 crore, reports the real estate data analytics firm PropEquity.

In contrast, 2023 recorded 10,187 housing units sold in Rajasthan's capital, valued at Rs 6,019 crore. The escalation in sales value is linked to rising input costs driven by increased prices in land, labor, and construction materials, notes PropEquity's Founder Samir Jasuja.

Moreover, a trend towards premium and luxury housing developments is driving up sales values. PropEquity data also highlights a 4% increase in total housing sales across 15 major tier-II cities, with significant value growth of 20%, reaching Rs 1,52,552 crore in 2024.

(With inputs from agencies.)