Indian Economy News

Housing sales in Jan-Mar rise 14% in top 7 cities, average prices up 10-32$: Anarock

  • IBEF
  • March 28, 2024

Anarock reports a 14% surge in housing sales across seven major Indian cities during the January-March period of this year, accompanied by a 10-32% rise in average property prices. Mumbai Metropolitan Region (MMR), Pune, Bengaluru, and Hyderabad saw notable increases in sales, while Delhi-NCR, Chennai, and Kolkata experienced declines. The data reveals a record-high sales volume of 1,30,170 units in the first quarter, with MMR leading with a 24% rise, followed by Pune and Hyderabad with 15% and 38% increases, respectively. Conversely, Delhi-NCR, Kolkata, and Chennai saw decreases of 9%, 9%, and 6%, respectively. Property prices in the top seven cities also appreciated annually by 10-32% in the first quarter of 2024.

Industry stakeholders attribute this growth to robust demand from end-users and investors, particularly in the premium and ultra-luxury segments. Chairman of Signature Global, Mr. Pradeep Aggarwal, and Managing Director of Krisumi Corporation, Mr. Mohit Jain, foresee a promising outlook for the housing market 2024, highlighting strong economic growth and improved infrastructure as key drivers. Executive Director of Trehan Iris, Mr. Abhishek Trehan, underscores the role of these factors in bolstering sales and shaping a positive trajectory for the sector.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.