NEW DELHI: However the rising rate of interest regime and value of property, India’s high seven cities noticed houses price ₹1.56 trillion offered within the first half of FY23, a soar of 119% year-on-year (YoY). The general worth of models offered within the corresponding interval of FY22 was approx ₹71,295 crore, in keeping with a report by ANAROCK.
Between April and September, near 1,73,155 houses had been offered throughout the highest seven cities in contrast with 87,375 models offered in the identical interval a yr in the past.
“In worth phrases, MMR topped the listing with housing gross sales price ₹74,835 Cr in H1 FY23, adopted by NCR with gross sales of ₹24,374 Cr. Whereas MMR noticed a yearly achieve of 110% in total housing gross sales worth (it was ₹35,610 Cr in H1 FY22), NCR noticed a whopping 174% soar,” mentioned Anuj Puri, chairman, ANAROCK Group.
“In H1 FY22, NCR noticed complete housing gross sales price ₹8,896 crore, “ mentioned Puri. “Approx. 52,185 houses had been offered in MMR within the April-September interval within the ongoing fiscal, whereas NCR witnessed gross sales of approx. 30,300 models in the identical interval. MMR dominated housing gross sales each in quantity and worth phrases, adopted by NCR and Pune.”
Curiously, Hyderabad noticed a 130% soar in total housing gross sales values on this interval, from ₹6,926 crore in H1 FY22 to ₹15,958 crore in H1 FY23. Round 22,840 residential models had been offered in Hyderabad within the first half of FY23.
In Bengaluru, models cumulatively price ₹17,651 crore had been offered in H1 FY23, an annual enhance of 115%. Pune offered round 26,580 houses price ₹13,532 crore in the course of the interval below evaluate.
Kolkata and Chennai noticed houses price ₹4,774 crore and ₹4,709 crore offered, respectively, in first two quarters of the present fiscal, rising by 115% and 57% yearly.
“The information vouchsafes that the primary half of FY23 was a extremely upbeat interval for the residential market within the high 7 cities, allying fears that housing gross sales may very well be impacted by rising property costs and rates of interest,” mentioned Puri. “The numbers present that Diwali got here early for builders, with houses price ₹1.56 lakh crore offered throughout the highest 7 cities in H1 FY23.”
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Supply: Live Mint