Housing sales rise 22 pc, new launches grow 17 pc in Jul-Sep across 8 cities

 

 

 

 

Housing sales rose by 22 per cent and new supply by 17 per cent year-on-year across eight major cities during the July-September period on better consumer demand, according to real estate digital platform PropTiger.Com. Housing brokerage platform PropTiger, which is owned by REA India, released its 'Real Insight Residential - July-September 2023' report on Thursday. REA India also owns Housing.Com and Makaan.Com. Sales of residential units increased to 1,01,220 units in the third quarter of this year from 83,220 units in the same period last year across eight major cities -- Delhi-NCR, Mumbai Metropolitan Region (MMR), Chennai, Kolkata, Bengaluru, Hyderabad, Pune, and Ahmedabad. All cities, except Chennai, registered a growth in sales, with Mumbai Metropolitan Region (MMR) and Pune accounting for nearly half of the total volume.

 

New project launches rose 17 per cent to 1,23,080 units from 1,04,820 units during the period under review. “The housing markets in the top eight cities continue to gain momentum. The strong demand is bolstered by positive consumer sentiment,” Vikas Wadhawan, CFO of REA India and Business Head of PropTiger.Com, said. He attributed the rise in sales to factors like pent-up demand, increased disposable income, stable interest rates, and renewed investor demand. As per the data of July-September 2023 against the year-ago period, housing sales in Ahmedabad have risen 31 per cent to 10,300 units from 7,880 units.