Housing Sales In India To Cross 4.5 Lakh Crore By The End Of 2023

housing sales

Listen To The Article

According to the Anarock data, the overall value of sold housing inventory is anticipated to surpass Rs 4.5 lakh crore, which is around 38% more than the total sales value of all of 2022, which witnessed the sale of homes valued at Rs 3.27 lakh crore.

The combined sales value of residential real estate in the top seven cities during the first nine months of 2023 was close to Rs 3,48,776 crore. In the top seven cities, 3.49 lakh units were sold between January and September 2023.

“The fact that the housing sales value in the first 9 months of 2023 exceeded that of the entire 2022 reflects the increased demand for premium luxury homes this year,” stated Anuj Puri, head of the Anarock company. This makes it difficult to compare annual sales figures, especially because the top cities’ average prices increased by 8–18% this year.

Top Seven Cities Witnessed The Most Number Of Home Sales

The top seven cities witnessed sales of residences valued at Rs 1,12,976 crore in the first quarter of 2023; this amount increased by 1% in the second quarter of 2023 and then by 8% in the third quarter 2023. “Thus, we expect the overall housing sales value to cross Rs 4.5 lakh crore by the end of 2023,” Puri stated.

With around Rs 1,63,924 crore worth of inventory (roughly 1,11,280 units) sold in the first nine months of 2023, Mumbai Metropolitan Region (MMR) topped the list. The National Capital Region (NCR) was next, with roughly Rs 50,188 crore in total sales value.

Homes valued at around Rs 38,517 crore were sold in Bengaluru during that time, while nearly 44,220 units worth roughly Rs 35,802 crore were sold in Hyderabad.

Up till September 2023, Pune sold over 63,480 units for about Rs 39,945 crore; Chennai sold about 16,310 units for about Rs 11,374 crore; and Kolkata sold about 9,025 crore worth of housing inventory (17,280 units) during the same time.


Compare listings