The bull run in the Indian housing market continued into the new year, with housing sales in the first quarter of 2024 hitting an all-time decadal high at 130,170 units across the top 7 cities, an industry report said.
The January-March quarter sales marked a 14 percent jump from the same year-ago period, the report by Anarock, a leading real estate consultancy operating in India and GCC, showed.
Anuj Puri, Chairman, Anarock Group, said Mumbai Metropolitan Region (MMR) and Pune accounted for over 51 percent of the total sales in the top 7 cities in Q1 this year, with MMR recording a 24 percent yearly jump.
The report said new project launches across the top 7 cities also continued above the 100,000-mark in the latest quarter.
MMR and Hyderabad saw the maximum new supply, accounting for 51 percent of the total new launches across the top 7 cities.
Average residential property prices across the top 7 cities have also seen significant jump in Q1, 2024, with up to 32 percent increase, compared to Q1 2023.
The price increase is attributed mainly to increase in the prices of construction raw materials and overall rise in demand.
Hyderabad and Bengaluru recorded the highest annual price jump of over 32 percent and 25 percent, respectively.
Follow us on
