The sale of houses in the seven major cities of the country has experienced a remarkable increase of 48 percent year-on-year,
reaching a total value of Rs 3.47 lakh crore in the previous financial year.
Anarock, a real estate firm, has attributed this surge to the high demand for homes and the subsequent rise in prices.
According to their analysis, the sale of residential properties is projected to further escalate from Rs 2,34,850 crore in 2021-22 to Rs 3,46,960 crore in 2022-23, based on current pricing.
Impressive Growth in Numbers
In terms of units sold, there has been a notable growth from 2,77,783 units in 2021-22 to 3,79,095 units in 2022-23.
These figures are derived from new housing sector transactions.
Anarock Group Chairman, Anuj Puri, stated that India’s residential real estate segment is experiencing rapid expansion.
Performance in Various Cities
Delhi-NCR witnessed a 42 percent increase in housing sales, with the total value growing from Rs 35,610 crore to Rs 50,620 crore in the previous year.
Sales in the Mumbai Metropolitan Region (MMR) are expected to grow by 46 percent, reaching Rs 1,67,210 crore in 2022-23, compared to Rs 1,14,190 crore in 2021-22.
Other cities showcased similar growth trends.
Bengaluru is predicted to witness a 49 percent increase, with housing sales rising from Rs 26,100 crore to Rs 38,870 crore in the upcoming financial year.
Pune is set to experience a substantial surge of 77 percent, reaching Rs 33,730 crore from Rs 19,100 crore in the previous year.
Hyderabad is projected to see a 50 percent rise in sales, with values increasing from Rs 23,190 crore in 2021-22 to Rs 34,820 crore in 2022-23.
Chennai is expected to grow by 24 percent, reaching Rs 11,050 crore, while Kolkata is estimated to witness a 38 percent increase, reaching Rs 10,660 crore, both in the same period.
