- Increasing demand for houses in the country
- Compared to last year’s Q-2, this year’s Q-2 is 36 percent higher.
- Mumbai and Pune top in house sales
WHowever, the situation is different in our country. Despite all these disadvantages, the real sector is booming. None of these conditions prevents the public from fulfilling their dream of owning a house. The reports from real estate companies make it clear that there is a high demand for houses this year. The April-June quarter saw all-time high sales across Indian cities.
According to a report by Anarock, a leading real estate services company, around 1,15,100 units were sold in Q2 2023 in seven major cities in the country. This is 36 percent higher than the 84,940 units sold during the same period last year. The share of Mumbai and Pune in the total sales is more than 51 percent. Pune recorded the highest annual growth rate of 65 percent. As many as 58,770 units were sold in these two cities. In Q2 2023, Pune sold the highest number of units at 20,680 units, while Delhi sold 16,450 units, with a year-on-year growth of 7 percent. As many as 5,780 houses were sold in Kolkata, with a growth of 20 percent; 38,090 units in Mumbai, with a growth of 48 percent; and 15,050 units in Bengaluru, with a growth of 31 percent. In Chennai, house sales increased by 44 percent to 5,490 units, while in Hyderabad, 13,570 units were sold, an increase of 21 percent, according to the Anarock report.
Another real estate brokerage firm, PropTiger.com, reported slightly different numbers for home sales in Q2 2023. In eight major cities of the country (Ahmedabad, Bangalore, Chennai, Hyderabad, Kolkata, Delhi, Mumbai, and Pune), 80,250 units were sold in Q2 2023. It explained that this is 8 percent higher than the 74,320 units sold during the same period last year. It said that 6790 units were sold in Bangalore with a growth of 19 percent, 3050 units with a growth of 5 percent in Chennai, 3230 units with a growth of 28 percent in Delhi, 7680 units with a growth of 3 percent in Hyderabad, 1940 units in Kolkata with a growth of 49 percent, and 18,850 units in Pune with a growth of 37 percent.
