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Plot over flat? ₹2.4 lakh cr worth of land launched in 3 yrs, Tier II leads
The top 10 cities with the most supply between 2022 and 2025 (May) are Hyderabad, Indore, Bengaluru, Chennai, Nagpur, Jaipur, Coimbatore, Mysore, Raipur and Surat.
Hyderabad, Bengaluru and Chennai were the only tier I cities that featured in the top 10 accounting for the supply of nearly 2.25 lakh residential plots (or 48% supply share) between 2022 and 2025 (May).
In the first five months of 2025, 45,591 residential plots have been launched, which is 36% of the supply in CY 2024 and 28% of the supply in CY 2023.
"The estimated launch value of the residential plots in 10 tier I-II cities between 2022 and 2025 (May) is approximately Rs 2.44 lakh crore. Residential plots have emerged as a safe haven for investors looking at them for self-use or investment post-pandemic owing to their liquidity, faster appreciation and desire to customize their living space. For developers, plots generate quick cash flow as they involve faster sales and less upfront investment as compared to apartments," said Samir Jasuja, Founder and CEO, PropEquity.
'The demand for plots was quite pronounced in tier II cities and top southern cities, namely Bengaluru, Hyderabad and Chennai. As demand for apartments/floors/villas has shown some signs of weakness in the first half of 2025, the shift of investment towards plots is very likely going forward. Bengaluru in tier I, and tier II cities like Indore, Raipur, Coimbatore and Mysore have seen robust price escalation in 2024.'
However, the report further highlighted that the supply of residential plots in the top 10 tier I & II cities fell 23% Y-o-Y in 2024 to 1,26,556 plots after recording 24% Y-o-Y growth in 2023 to 1,63,529 plots.
Three cities saw a rise in supply in 2024, namely Chennai (27%), Coimbatore (40%) and Surat (2%). The other seven cities saw a fall in supply.
In volume terms, Indore topped the list with 26,538 residential plots launched in 2024, followed by Chennai and Hyderabad.
The weighted average launch price of residential plots in the top 10 tier I and tier II cities rose 27% YoY in 2024 to Rs 3679 per sq. ft. which translates to Rs 33,111 per sq. yard and Rs 39,586 per sq. mt.
Where Is the Supply Coming From?
While Tier II cities dominate in volume, Hyderabad, Bengaluru, and Chennai are the only Tier I cities in the top 10, collectively contributing 2.25 lakh units or 48% of total plotted supply.
The top 10 cities with the highest residential plot launches between 2022 and May 2025 are:
Hyderabad
Indore
Bengaluru
Chennai
Nagpur
Jaipur
Coimbatore
Mysore
Raipur
Surat
Tier II Cities Are the Real Growth Story
From Indore and Coimbatore to Raipur and Mysore, Tier II markets have become the focal point for plotted development. In fact, Indore topped the charts in 2024 with 26,538 new plots, followed by Chennai (22,745) and Hyderabad (20,902).
Three cities even recorded positive YoY growth in plot launches in 2024:
Coimbatore: +40%
Chennai: +27%
Surat: +2%
In contrast, seven cities saw a decline in new plot supply, with Hyderabad (-54%) and Mysore (-46%) witnessing the sharpest drops. New Launch of Residential Plots (Units)
As sentiment towards high-rise apartments softens in the first half of 2025, investor interest is clearly shifting toward land. With flexible design, limited supply, and growing infrastructure in Tier II cities, plotted developments may remain the preferred real estate play—particularly for end-users and long-term investors seeking value appreciation and liquidity.
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