Housing gross sales skilled a notable 14 per cent enhance, accompanied by common value hikes ranging between 10 per cent to 32 per cent throughout seven key cities throughout the January-March interval of this yr, showcasing sustained demand available in the market, in accordance with a report by the actual property advisor, Anarock launched on Wednesday. Whereas residential property gross sales surged in Mumbai Metropolitan Area (MMR), Pune, Bengaluru, and Hyderabad, they witnessed a decline in Delhi-NCR, Chennai, and Kolkata.
The report is predicated on information from the highest seven main (first sale) residential markets within the nation. In response to the information, housing gross sales within the high seven cities elevated by 14 per cent to achieve 130,170 items throughout the January-March quarter of this yr, in comparison with 113,775 items in the identical interval final yr.
“The quarter has recorded the best ever gross sales within the final decade amid a major rise in demand for high-ticket houses priced Rs 1.5 crore and above,” Anarock Chairman Anuj Puri stated.
Within the Mumbai Metropolitan Area (MMR), housing gross sales surged by 24 per cent, reaching 42,920 items throughout January-March, up from 34,690 items in the identical interval final yr. Pune witnessed a 15 per cent enhance in housing gross sales, rising to 22,990 items from 19,920 items. Hyderabad skilled a major 38 per cent rise in housing gross sales, reaching 19,660 items from 14,280 items. Bengaluru noticed a 14 per cent uptick in housing gross sales, reaching 17,790 items in comparison with 15,660 items beforehand.
Nonetheless, Delhi-NCR recorded a 9 per cent decline in housing gross sales, dropping to fifteen,650 items from 17,160 items. Equally, housing gross sales in Kolkata declined by 9 per cent to five,650 items from 6,185 items. In Chennai, residential property gross sales decreased by 6 per cent, down to five,510 items from 5,880 items within the corresponding interval final yr. Moreover, common residential property costs within the high 7 cities appreciated by 10-32 per cent yearly throughout the first quarter of 2024.
Commenting on the findings of the report, Pradeep Aggarwal, Founder and Chairman of Signature World India, stated, “The actual property market is experiencing a surge throughout all sectors courtesy a robust demand from each first-time homebuyers in addition to prosperous patrons looking for luxurious properties or second houses. Even Investor urge for food is excessive, notably for properties positioned at prime areas with the potential for prime returns. Gurugram stays the highest residential market within the NCR, and the completion of the Dwarka Expressway is predicted to make it much more enticing.”
“A number of the most promising areas in Gurugram embrace Sector 37D, Sector 71, Dwarka Expressway, and Southern Peripheral Highway. These areas supply quite a lot of housing choices at totally different value factors, making them interesting to a variety of patrons and probably outperforming different sectors by way of purchaser curiosity, “ he added.
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