New Delhi: India’s residental housing sector noticed an upward progress this 12 months with housing gross sales within the high 7 cities creating a brand new peak in 2023. As per the newest ANAROCK Research information housing gross sales within the high 7 cities have breached the earlier excessive of 2022.
“Approx. 4,76,530 units were sold in 2023 against 3,64,870 units in 2022 across the top 7 cities – rising by 31% Y-o-Y. The last peak in the decade was seen in 2022, after 2014, when approx. 3.43 lakh units were sold in the top 7 cities,” stated ANAROCK.
MMR witnessed the best gross sales of approx. 1,53,870 models in 2023, adopted by Pune with approx. 86,680 models. The two western markets collectively led residential gross sales in 2023.
New launches throughout the highest 7 cities noticed a 25% annual rise – from approx. 3,57,640 models in 2022 to approx. 4,45,770 models in 2023. MMR and Pune noticed probably the most new launches, collectively comprising an practically 54% share of whole new launches within the 12 months.
Residential gross sales stood at approx. 4,76,530 models in 2023 in opposition to 3,64,870 models in 2022 throughout the highest 7 cities – rising yearly by 31%. MMR, Pune, Bengaluru, Hyderabad, and NCR, collectively accounted for 91% of the gross sales within the 12 months, the ANAROCK information discovered.
On annual foundation, housing costs rose by between 10-24% throughout the highest 7 cities, primarily because of elevated enter prices and powerful demand. Hyderabad recorded the best yearly bounce of 24% in common residential costs – from INR 4,620 per sq. ft. in 2022 to almost INR 5,750 per sq. ft. in 2023, it added.
“NCR saw the highest decline of 23% in unsold stock on a yearly basis – from approx. 1,23,690 units by 2022-end to approx. 94,800 units as of 2023-end. This is the first time since 2013 that NCR’s unsold stock is less than a lakh units,” stated ANAROCK.
Source: zeenews.india.com
