Housing units worth Rs 4.5 lakh crore were sold, registering 38% growth.
The real estate sector is progressing rapidly across the country, if the large-scale sale of housing units is any indication.
The sale of housing units across seven major cities in the country this year, compared to last year, registered 38% growth, according to Anarock property consultants.
The total value of the units sold this year was put at Rs 4.5 lakh crore. Out of them, the luxury houses enjoy unprecedented demand from customers.
In 2022, the total value of the housing units sold was put at Rs 3.26 lakh crore.
However, the first nine months of 2023 saw the sale of housing units worth Rs 3.49 lakh crore, registering 7% growth.
In the Hyderabad market, the first nine months of the current year saw the sale of housing units worth Rs 35,802 crore, registering 43% growth over the corresponding period last year.
Pune registered 96% growth compared to last year by selling units worth Rs 39945 crore. Chennal market registered 45% growth (Rs 11347 crore), Banglore market registered 40% growth (Rs 38,517 crore), Mumbal market registered 41% growth selling units worth Rs 1,63,924 crore, Delhi market achieved 29% growth selling units worth Rs 50,188 crore, and Kolkata market registered 19% growth and sold units worth Rs 9025 crore.
Anarock chairman Anuj Puri said this year the prices of houses increased in the range of 8–18 percent on average. Moreover, the demand for luxury homes has registered an unprecedented increase, he added.
The sales would be very high during the festival season. In the first nine months of the current year, 1.49 lakh houses were sold. However, the sales will cross 4.5 lakh units by year-end, he predicted. He put the total number of houses sold in 2022 at 3.65 lakh.
