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Residential housing sales increased in 8 major cities of the country, a sign of revival in the realty sector

Housing Sales Increased: Housing demand in the country’s eight major cities remains strong and housing sales in these cities grew by 19 per cent year-on-year to 80,770 units during the October-December period. This information was given in a report. In the same quarter last year, 67,890 residential units were sold.

Housing brokerage company PropTiger.com said in its ‘Real State Insight’ report that housing sales have increased by 50 per cent to 3,08,940 units in eight major cities of the country so far this year. In 2021, 2,05,940 units were sold.

housing.com Vikas Wadhawan, Group Chief Financial Officer, said, “Despite the continuous increase in home loan interest rates, customers want to get the deal done at a lower price instead of worrying about the interest rates.”

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Ahmedabad

According to the data, housing sales in Ahmedabad increased by 23 per cent to 6,640 units this year as compared to 5,420 units in October-December last year. Last year, a total of 16,880 units were sold, which increased by 62 percent to 27,310 units in 2022.

Bangalore

In Bengaluru, it fell by 30 per cent to 6,560 units from 9,420 units between October and December last year. However, on an annual basis, sales here have increased by 22 percent to 30,470 units, which was 24,980 units in 2021.

Chennai

Housing sales in Chennai declined by two per cent to 3,160 units during the quarter under review as against 3,210 units in the same quarter last year. However, housing sales have increased by eight per cent throughout the year and 14,100 units were sold in 2022 as compared to 13,050 units sold in 2021.

Delhi-NCR

Sales in Delhi-NCR also decreased by three percent to 4,280 units in October-December 2022. It was 4,430 units in the same quarter of 2021. Housing sales here too have increased by seven per cent to 19,240 units in 2022 as compared to 17,910 units last year.

Housing sales in Hyderabad more than doubled to 10,330 units in the quarter under review from 4,280 units in the same quarter last year. Whereas last year, a total of 22,240 units were sold here, which increased by 59 percent to 35,370 units in 2022.

Kolkata

Housing sales in Kolkata fell 18 per cent to 2,130 units in the October-December quarter from 2,610 units in the same quarter last year. However, this year the demand here has increased by eight percent to 10,740 units, which was 9,900 units in 2021.

Mumbai Metropolitan Region

Housing sales in the Mumbai Metropolitan Region increased by 40 per cent to 31,370 units in the quarter under review as against 22,440 units in the same quarter last year. At the same time, total sales in 2022 have increased by 87 percent to 1,09,680 units, which was 58,560 units in 2021.

Pune

Housing sales in Pune increased by one per cent to 16,300 units during the quarter under review, as against 16,080 units last year. Here the total sales in 2022 have increased by 46 percent to 62,030 units which was 42,420 units in 2021.

Ankita Sood, head of research at PropTiger.com and Housing.com, said that 2022 has been very positive for the residential realty sector and this is just the beginning.

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