Home sales in eight major cities of the country increased to a six-year high in the September quarter: Report – Dainik Savera Times
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New Delhi: Due to strong demand in eight major cities of the country, home sales have increased by 12 percent year-on-year to 82,612 units in the July-September quarter. This is the highest quarterly sales figure in six years. This information has been given in a report by Knight Frank. Sales of residential units in eight major cities stood at 73,691 units in the same period a year ago. Knight Frank India’s report released on Wednesday said that this figure is important because quarterly sales have reached a six-year high.
According to the data, home sales in Mumbai rose four per cent to 22,308 units during the July-September quarter from 21,450 units in the year-ago period. During the period under review, housing sales in Delhi-NCR increased by 27 percent from 11,014 units to 13,981 units. Sales of residential properties in Bengaluru rose marginally to 13,169 units from 13,013 units, while in Pune sales rose 20 per cent to 13,079 units from 10,899 units.
Home sales in Hyderabad rose five per cent to 8,325 units from 7,900 units and in Ahmedabad it rose six per cent to 4,108 units from 3,887 units. Sales in Chennai grew five per cent to 3,870 units from 3,685 units, while sales in Kolkata more than doubled to 3,772 units from 1,843 units. Knight Frank said, “House prices have also increased on an annual basis in all markets in line with demand.” House prices in Hyderabad have increased the most on an annual basis by 11 percent.
Residential property prices rose by seven per cent in Kolkata, six per cent each in Bengaluru and Mumbai, five per cent in Pune, four per cent each in Ahmedabad and Delhi-NCR and three per cent in Chennai. Shishir Baijal, Chairman and Managing Director, Knight Frank India, said, “Home sales continue to accelerate and have reached a multi-year high. Builders are launching new projects to meet the strong demand due to which the supply of homes is also strong. The overall health of the real estate market is improving amid better sales data.
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