Mumbai: A deep dive into buyer behavior using ANAROCK AI Data has revealed significant shifts in India’s residential real estate market between 2022 and 2024.
Homes priced in the ₹50 lakh to ₹1 crore range have emerged as the most preferred segment, reflecting a growing aspiration for mid-premium homes across urban centers.
According to ANAROCK AI Data insights derived from ANAROCK’s proprietary AI engine, ASTRA, which has analyzed over 2.8 million qualified leads across 74 AI models, buyer preferences and behaviors have evolved considerably over the past three years.
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The share of buyers in the ₹50L–₹1Cr segment rose from approximately 28% in 2022 to 35% in 2024.
Meanwhile, the proportion of buyers opting for homes priced under ₹25 lakh fell from 16% in 2022 to 14% in 2024. Conversely, demand in the ₹1–2 crore category has been rising, reaching 17% in 2024, according to ANAROCK AI Data.
“AI has allowed us to uncover actionable intelligence on homebuyer behavior,” said Aayush Puri, Head – ANAROCK Channel Partner & ANACITY. “We are seeing clear shifts in buyer demographics, budget preferences, and decision-making timelines, especially as higher-priced homes gain more traction among older buyers.”
Key Insights from ANAROCK AI Data:
- Budget Preferences: Demand for homes priced above ₹1 crore jumped from 18% in 2023 to 32% in 2024. This growth was most notable among buyers aged 41 and above, especially in the ₹2 crore-plus category.
- Buyer Age Trends: The 36–40 age group now dominates the buyer pool, while the share of those under 25 dropped to just 4% in 2024 from 8% in 2020.
- Days-to-Booking Increasing: The average number of days from inquiry to booking has grown from 25 in 2022 to 28 in 2024. However, luxury homes priced over ₹3 crore showed quicker conversions—dropping to just 16 days—suggesting faster decision-making among high-net-worth individuals.
- Shift in Buying Channels: Channel partner involvement has grown steadily, now accounting for 32% of bookings in 2024, up from 28% in 2022. Digital platforms saw a drop from 35% in 2022 to 30% in 2024, while offline channels increased to 28%.
- Configuration Preferences: Preferences have shifted towards larger units, with 3BHK homes seeing an increase from 38% in 2022 to 45% in 2024. In contrast, demand for 1BHK units continues to decline.
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ANAROCK AI Data: AI Driving Real Estate Transformation
AI and machine learning are now at the forefront of real estate transformation. ANAROCK’s use of AI extends beyond customer profiling to include predictive analytics for market trends, personalized recommendations, and intelligent lead scoring.
AI-based systems have improved conversion rates by 30%, enhancing efficiency in both customer acquisition and satisfaction.
These trends underscore a broader evolution in India’s housing market, where AI-driven intelligence is becoming a critical enabler of real estate decision-making for both buyers and sellers.
