India’s residential market is gaining momentum, with Millennials and Gen Z projected to account for approximately 60% of new homebuyers by 2030, according to JLL’s year-end residential market report.

New Delhi: As India’s residential market gains momentum, Millennials and Gen Z are projected to account for approximately 60% of new homebuyers by 2030, according to a year-end residential market report by JLL, a global real estate services firm. Millennials, also known as Generation Y, include individuals born between the early 1980s and the mid-1990s to early 2000s, while Generation Z encompasses those born from the mid-to-late 1990s through the early 2010s.
The report further highlighted that the urban homeownership rate is expected to rise to 72% by 2025, compared to 65% in 2020. According to a note by Ritesh Mehta, Senior Director and Head (North and West), Residential Services and Developer Initiative at JLL India, India’s housing market is set for a significant transformation by 2025. This evolution will be fueled by rapid urbanization, technological advancements, and shifting consumer preferences. Affordable financing options and the entry of a younger demographic into the housing market are expected to play a key role in this growth.
Tier II and III cities are emerging as critical drivers of this transformation, with urban centres such as Jaipur, Indore, and Kochi contributing to over 40% of new housing developments by 2025. Highlighting the sector’s resilience and growth potential, JLL projects the housing market to account for 13% of the national GDP by 2025. Furthermore, the housing sector is anticipated to evolve into a USD 1-trillion market by 2030, driven by demographic changes, policy reforms, and global trends, positioning it as a cornerstone of India’s economic progress.

Mr. Rishi Raj, COO, Max Estates

Commenting on the booming sector, Mr. Rishi Raj, COO, Max Estates, remarked, “On the residential front, the sector is experiencing a golden era. Homeownership has become a priority for mid-30s buyers, supported by demographic shifts. Listed developers have seen their market share rise from 17% to 34%, reflecting greater investor confidence.”
He further added, “Max Estates has successfully launched Delhi NCR’s first large-scale intergenerational community. Antara Senior Living manages one-third of the community, catering to senior residents, while the remaining is designed for younger generations—a concept that has received an overwhelmingly positive response from the market. Additionally, millennials are driving demand for premium, compact luxury homes, signalling a shift from traditional formats.”
With such dynamic developments shaping the market, the Indian residential sector is poised to achieve new milestones, aligning with the aspirations and evolving lifestyles of its younger homebuyers.