Buyers of ultra luxury homes priced at ₹3 crore and above took the least time to decide on the purchase, approximately 15 days in H1FY 2025, while buyers of apartments priced between ₹50 lakh and ₹1 crore took almost a month to press the buy button, a report by Anarock has said.
Overall, the lead-to-buy conversion time to buy property in India has come down to 26 days on an average in the first half H1 FY25 against 33 days in FY 2021, it said.
A deeper analysis of the budget category data shows that ultra-luxury homes (priced more than ₹3 crore) involve the lowest conversion time, clocking in at just 15 days in H1 FY 2025. Back in FY 2024, it was 22 days – thereby reducing by a whole week, it showed.
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“Ultra-luxury home buyers are financially equipped to make quicker decisions. Also, high-end homes are currently in greatest demand and desirable inventory tends to sell out fast, necessitating a need for speed,” said Anuj Puri, chairman, Anarock Group.
Conversion time for budget category homes
Out of all budget categories, buyers of homes priced between ₹50 lakh to ₹1 crore took the most time (about 30 days) to decide on buying a home from the day they first got a lead to paying the booking amount.
“In contrast, in FY 2024, the conversion time for this category of homes was the lowest at just 20 days,” says Puri.
“However, if we compare H1 FY2025 data with that of the previous fiscal (FY2024), we note a slight increase in the conversion time – from 25 days in FY 2024 to about 26 days in H1 FY2025. We can attribute this to escalating property prices across cities in the last one year, which are causing purchase decisions to take longer, ” he said.
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The conversion for homes priced between ₹1 crore to ₹3 crore stood at 27 days in H1 FY 2025. In FY 2024, conversion time taken was highest for homes priced between ₹1 crore to ₹2 crore (32 days). Properties priced between ₹2 crore to ₹3 crore took 26 days to be booked, the report showed.
Affordable homes saw a minor reduction in the conversion time – from 27 days in FY 2024 to 26 days in H1 FY 2025.
Buyers took a longer time to book homes in FY2021 than they are taking today, reflecting the currently strong demand momentum. Given that the last few years have seen a surge in new supply by branded developers, buyers feel empowered to make quicker decisions as confidence in these players is high, the report noted.
“Even with these decreases in lead-to-buy periods, it is unlikely that we will see any marked incremental changes in this process overall,” adds Puri.
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“Indian home buyers do not make purchase decisions lightly, given the huge capital outlay often involving most or all of their savings. Obviously, luxury and ultra-luxury home buyers do not operate from a place of financial constraint; however, this segment constitutes just about 10-11% of the overall Indian residential market sales currently. Affordable, mid-range – and, of late, upper-mid-range buyers will continue to define the bulk of demand in the country,” he added.
