Residential sales increased by 14 percent in January-March in the top seven cities of the country.
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New Delhi. Residential sales in seven major cities have increased by 14 percent during January to March this year. According to Anarock, demand remains strong. Residential property sales rose in Mumbai Metropolitan Region (MMR), Pune, Bengaluru and Hyderabad, although they declined in Delhi-National Capital Region (NCR), Chennai and Kolkata. Real estate consultant Anarock on Wednesday released sales data in the top seven residential markets of the country.
According to the data, residential sales in the top seven cities rose 14 per cent to 1,30,170 units in the January-March quarter this year from 1,13,775 units in the same period a year ago. “The quarter witnessed the highest sales in the last decade amid a significant increase in demand for high-end homes priced at Rs 1.5 crore and above,” Anarock Chairman Anuj Puri said.
Residential sales in MMR rose 24 per cent to 42,920 units during January-March from 34,690 units in the same period a year ago. Residential sales in Pune increased by 15 per cent to 22,990 units from 19,920 units. Residential sales in Hyderabad rose 38 percent to 19,660 units from 14,280 units. In Bengaluru, there was an increase of 14 percent from 15,660 units to 17,790 units. However, residential sales in Delhi-NCR declined by nine percent from 17,160 units to 15,650 units. Residential sales in Kolkata also declined by nine per cent to 5,650 units from 6,185 units and in Chennai sales declined by six per cent to 5,510 units from 5,880 units in the same period last year.
Average residential property prices in the top seven cities are expected to increase by 10 to 32 per cent year-on-year in the first quarter of 2024. Commenting on the report, Signature Global Chairman Pradeep Agarwal said sales have increased due to strong demand. Mohit Jain, managing director of Gurugram-based Crisumi Corporation, said residential demand is high, especially for premium and ultra-luxury houses. It is expected to become stronger in 2024.
Disclaimer: IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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