India’s housing market sales went up by 5% yearly to 87,108 units in eight big cities. According to Knight Frank India, Demand stayed strong for premium homes.
Using a webinar, real estate consultant Knight Frank India on Thursday published its “India Real Estate” for the third quarter of the 2024 calendar year.
In comparison to the data that were given by Anarock and PropEquity, which indicated a general reduction in overall sales in important cities for the period of July–September, the figures that were revealed showed a minor gain in home sales.
According to the findings of the research, the momentum in India’s housing market has been on an upward trend in 2024.
The third quarter of 2024 produced the greatest quarterly sales of 87,108 units so far this year.
Speaking at a virtual news conference, Knight Frank India CMD Shishir Baijal said demand for premium homes costing more than Rs 1 crore a unit is driving up house sales.
“There are concerns in the affordable segment in India’s Housing Market,” Baijal said, adding that “supply and affordability issues have caused sales in this category to drop.”
India’s Housing Market Report on Top Cities: By Real Estate Consultant Knight Frank India
Apart from the Delhi-NCR region, where sales have dropped by 7% YoY (year-on-year), according to the research, house sales have expanded everywhere else.
Mumbai, with 24,222 units, had the largest sales volumes in the market—a fresh high. Mumbai’s sales climbed 9% year over year.
With 14,604 units, Bengaluru’s sales among the bigger markets climbed the highest at 11% YoY.
in contrast, demand in Hyderabad increased by nine percent, reaching 9,114 units.
Pune’s housing sales were up 1 percent to 13,200 units.
It was observed that the number of units sold in Ahmedabad increased by 11%, reaching 4,578.
While the number of units sold in Kolkata increased by 14%, reaching 4,309 altogether.
Chennai had a six percent rise in the number of homes sold, reaching 4,105 units.
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