Residential sales in seven cities of the country will increase by 31 percent to a record 4.77 lakh units in 2023: Anarock
[ad_1]
Residential sales in seven major cities of the country increased by 31 percent this year to a record 4.77 lakh units. This increase was recorded despite prices rising by an average of 15 percent and high interest rates. Real estate consultant Anarock gave this information. Anarock on Thursday released annual data of the residential market of seven major cities. According to the data, residential sales in this calendar year 2023 stood at 4,76,530 units. This is the highest sales ever recorded in any calendar year. 3,64,870 units were sold in 2022. “Despite global headwinds, rising home property prices and rising interest rates in the first half of the year, 2023 has been a great year for the Indian residential sector,” Anarock Chairman Anuj Puri said.
He said residential sales in the top seven cities surpassed the previous high in 2022. Puri said there were fears that rising property prices and interest rates as well as global market uncertainties would impact residential sales, however high demand remained. According to the data, the Mumbai Metropolitan Region (MMR) recorded the highest sales among the top seven cities. Pune was at second place. Sales in MMR increased by 40 per cent to 1,53,870 units as against 1,09,730 units last year. Residential sales in Pune increased by 52 percent to 86,680 units as against 57,145 units last year. Sales in Delhi-National Capital Region (NCR) rose only three per cent to 65,625 units as against 63,710 units last year.
Residential sales in Bengaluru rose 29 per cent to 63,980 units compared to 49,480 units last year. Sales in Kolkata increased nine percent to 23,030 units from 21,220 units. Sales in Chennai grew 34 per cent to 21,630 units this year from 16,100 units in the last calendar year. According to the real estate consultant, residential prices in these seven cities increased by 10 to 24 percent due to increase in raw material costs and strong demand.
Disclaimer: IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
[ad_2]
Source link
