Indian Economy News

Housing sales witnessed a high record in 2022 with new launches in top seven cities: Data

  • IBEF
  • January 17, 2023

According to the data from a real estate services company, ANAROCK, the housing sales in India witnessed a high record in 2022 along with some new launches across the top seven cities in the country. The unit completions also remained on top from 2017 till 2022. Around 4.02 lakh homes were completed in 2022, registering a 44% increase, as compared to around 2.79 lakh homes in 2021.

In 2022, the highest number of completed homes were in the Mumbai Metropolitan Region (MMR), which accounted for around 126,720 units, registering around an 80% increase as compared to 2021 with 70,500 units. In the National Capital Region (NCR), around 84,200 units got completed in 2022 as against 86,590 units in 2021 and in Pune, about 84,200 units were completed in 2022. There was also an increase in the completed homes in Bengaluru, Hyderabad, Chennai, and Kolkata.

Mr. Anuj Puri, Chairman of ANAROCK Group said that in response to high demand in the Indian housing sector, developers remained focused on completing their previously launched projects and are committed to completing previously launched projects before launching new ones. Further, he said that over 5.44 units are scheduled to be completed across the top seven cities in 2023.

As per ANAROCK, ready-to-move-in homes remain squarely on the bestseller list and if construction proceeds unhampered and as per schedule, NCR is likely to see the maximum completions in the year.

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