New Delhi. Residential sales in seven major cities have increased by 14 percent between January and March this year. According to Anarock, demand remains strong. Sales of residential properties rose in the Mumbai Metropolitan Region (MMR), Pune, Bengaluru and Hyderabad, although there was a decline in Delhi-National Capital Region (NCR), Chennai and Kolkata. Real estate consultant Anarock said sales in the top seven residential markets of the country were down. Related figures were released on Wednesday. According to the data, residential sales in the top seven cities increased by 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.
Anarock Chairman Anuj Puri said, “This quarter has seen 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.”
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Sales increased in these cities
Residential sales in MMR increased by 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 percent to 22,990 units from 19,920 units. Residential sales in Hyderabad increased by 38 percent from 14,280 units to 19,660 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 as against 5,880 units in the same period last year. Average residential property prices in the top seven cities have increased by 10 to 32 percent on an annual basis in the first quarter of 2024.
Commenting on the report, Signature Global Chairman Pradeep Aggarwal said that 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.
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Tags: Business news in hindi, Property, Property investment, Property market, Real estate market
FIRST PUBLISHED : March 27, 2024, 4:48 PM IST
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