Housing units worth Rs 3.49 lakh crore were sold across the top 7 cities in the first nine months of calendar year 2023 as against Rs 2.43 lakh crore in the same period of last year, registering a rise of 44 per cent, says a report.
This is 7 per cent higher than the entire 2022 sales value of around Rs 3.27 lakh crore, according to a report from Anarock. At the current sales momentum, the ongoing December quarter is expected to see Rs one lakh crore worth housing inventory sold in top cities, taking total sales value above Rs 4.5 lakh crore, it said.
The rise in housing sales value in January-October period of 2023, exceeding that of entire 2022, points to a large number of high-ticket value homes sold this year, Anarock said.
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Overall sales value of homes sold in nine months was highest in the Mumbai Metropolitan Region (Rs 1.64 lakh crore) followed by NCR (Rs 50,188 crore). Sales value in Kolkata was lowest at Rs 9,025 crore. Pune saw 63,483 units sold till September 2023 with total sales value of Rs 39,945 crore, indicating higher sales of low-ticket value homes.
Anuj Puri, Chairman, ANAROCK Group, said: “The fact that the housing sales value in the first nine months 2023 exceeded that of the whole of entire 2022 reflects the increased demand for premium luxury homes this year. This, along with the fact that average prices in the top cities rose by anywhere between 8-18 per cent this year, makes an apple-to-apple comparison of annual sales values challenging.”
“If we look at the quarter-on-quarter sales values in 2023, each quarter saw consistent growth and overall sales value has already breached the Rs one lakh crore mark,” Puri said.