For the January–March 2025 quarter, three respected research firms reported the Indian housing market and disagreed about which direction it moved.
Knight Frank reported primary residential sales across eight major cities up 2%, at 88,274 units. For the same quarter, PropEquity and ANAROCK reported housing demand down 23% and down 28% respectively.
None of them is lying, and none is incompetent. They are counting different things.
Where the divergence comes from
- City set. "Eight major cities" is not the same eight everywhere, and adding or dropping one large market moves the total materially.
- Primary versus all sales. Some series count only first sale from a developer. Others include resale. These are different markets that move differently.
- Source of truth. Registry data, developer reporting, project-level tracking and portal listings each capture a different slice at a different lag.
- What counts as a sale. Booking, agreement, or registration are three different moments, sometimes quarters apart.
Why this matters more for land than for flats
Apartments are relatively standardised. Agricultural land is not. Two parcels in one village can differ in water, access, shape, soil and title quality enough to price 50% apart, and no index can carry that. If three firms can disagree by 30 percentage points on a standardised asset in eight monitored cities, treat any single confident figure about farmland in an unmonitored corridor with real caution.
Four questions before you quote any property number
- Who published it, and what do they sell? Research from a firm selling the asset is not disqualified, but it is not neutral either.
- What exactly was measured? Asking price, registered price, or index value — three different things routinely reported as "price".
- Over what geography and what period? A metro number is not a district number, and a quarter is not a trend.
- Is the method published? If you cannot find how it was built, you cannot judge it. Reports that publish their limitations are the ones worth reading.
We keep a running map of which reports cover what, and which cover Jaipur or farmland at all, on our market reports page.
🏛️ AgriZameen is independent — not a government body, and nothing here is investment, legal or valuation advice. Every figure quoted is attributed to its publisher with the period it refers to. Reports are revised and superseded; check the current edition before you rely on any number. Land is market-linked, past movement does not guarantee future returns, and no return is promised or implied.
📊 All market reports & sources🏜️ Rajasthan land guideReviewed July 2026.