INR 50L–1Cr Homes Dominate from 2022–2024, Decision Cycles Rising
-ANAROCK AI Data
- Largest
share of buyers in INR 50 lakh–1 Cr budget range - ~28% in 2022, ~32% in
2023, ~35% in 2024
- Share
of buyers in up to INR 25 lakh range declines from ~16% in 2022 to 14% in
2024, share of buyers in INR 1-2 Cr segment rising - 14% in 2022, 16% in
2023, 17% in 2024
- Avg.
days from inquiry to booking rising - 25 days in 2022, 27 days in 2023, 28
days in 2024
- Dominant
buyer age group is consistently 31–35; youngest (<25) & oldest
(>45) have smallest shares of buyer pool
- Buying
sources - digital sources down from ~35% (2022) to ~30% (2024); channel
partner sources rise from ~28% (2022) to ~32% (2024); offline channels
rise from ~25% (2022) to ~28% (2024). Referral channels hover at ~12%
Mumbai, 8 August 2025: The application of artificial
intelligence (AI) to real estate customer profiling has fundamentally
transformed how leading property brokerages leverage technology to understand
and serve their customers. ANAROCK has analysed some of its customer
intelligence data from 2020 to 2024 to reveal significant shifts in buyer
demographics and preferences.
Aayush Puri, Head - ANAROCK Channel Partner & ANACITY, says, “Thanks to
AI, it has become possible to create sophisticated ecosystems to analyse
customer behaviour, predict purchasing patterns, and optimize sales strategies
with unprecedented precision. Data from our proprietary AI tool ASTRA, which
analyses consumer behaviour data from 2.8 million qualified leads via 74
different models, provides several interesting insights. For instance, there
has been a gradual increase in homebuyers over 36 years of age, and a reduction
in the 25-35 age group - with 36-40 years constituting the largest age group in
2024. We have also tracked budget range and unit configuration preferences, and
conversion or days-to-booking timelines.”
The use of such AI platforms represents a paradigm shift from
traditional, intuition-based real estate practices to data-driven decision
making. They deliver measurable improvements in lead conversion rates, customer
targeting, and overall business efficiency.
The real estate industry has historically struggled with customer
profiling due to the complex, multifaceted nature of property purchasing
decisions. Traditional forecasting methods often fall short in capturing the
intricate relationships between property attributes, market conditions, and
customer preferences. Manual lead scoring processes, heavily reliant on human
judgment and fixed criteria, are prone to inconsistencies and lack the flexibility
needed to adapt to rapidly changing market dynamics.
Evolving Buyer Age Distribution
The data shows a consistent shift toward older homebuyers, with the proportion of buyers under 35 decreasing significantly. In 2024, buyers aged 36-40 represented the largest segment, while the under-25 demographic fell to just 4% from 8% in 2020.
Budget Preference Changes
“Our data shows that there has been a substantial increase in preference
for homes above INR 1 crore, rising from 18% in 2023 to 32% in 2024,” says
Aayush Puri. “This trend toward premium properties is particularly pronounced
among buyers over 41 years of age, who are driving demand for homes in the INR
2+ crore category.”
Conversion (Days-to-booking) Timelines
ANAROCK’s AI-enabled tracking and prediction of customer conversion
timelines shows that the average days to booking increased from 25 days in 2022
to 28 days in 2024. Interestingly, luxury properties above INR 3 crores showed
a reduction in conversion time to 16 days in 2024, indicating that high-value
customers make decisions more quickly once engaged.
Other Findings
Buying Channels - The data shows a gradual
decline in digital source (developer and property aggregator website) bookings
over the last three years. On the other hand, bookings via channel partners –
brokers and brokerages retained by developers to market their projects - gained
higher prominence. In 2024, channel partners became particularly significant in
the INR 50L-1Cr and above INR 3Cr segments.
Configuration Preferences - The analysis shows a growing
preference for 3BHK units, which increased to 45% in 2024 from 38% in 2022,
while 1BHK preferences declined significantly. This shift reflects changing
lifestyle needs and the impact of remote work trends.
Current AI Trends in Real Estate Brokering
The real estate industry is undergoing an unprecedented technological
transformation, with AI and machine learning at the forefront. Even as
AI-powered predictive analytics now drive market forecasting, property
valuations, and investment risk assessment, AI chatbots interact with
customers, provide them with personalized property recommendations, and take
them on virtual tours.
Property marketplaces enhanced with AI can match buyers to properties
with 95% accuracy based on their preferences. Traditional rule-based lead
scoring is being replaced by AI-driven systems that can analyse complex
behavioural patterns and demographic data. AI-based lead scoring systems can
improve conversion rates by 30% through personalized property recommendations.
