India’s luxurious housing items have witnessed a sturdy demand within the first 9 months of the present fiscal 12 months. Based on a report by the Anarock Property Marketing consultant, roughly 84,400 luxurious items (priced over ₹1.5 crore) have been offered between January and September in seven metropolitan cities within the nation in 2023, towards 39,300 (Approx) items offered in the identical interval in 2022.
Additionally learn: Mumbai’s actual property registrations surge throughout festive season
Based on the info, out of the roughly 3.49 lakh items offered in eight cities (Delhi-NCR, Mumbai area, Bengaluru, Pune, Hyderabad, Chennai, and Kolkata) within the first 9 months of 2023, about 24% or roughly 84,400 items have been luxurious properties priced above ₹1.5 crore.
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Among the many eight Indian cities, luxurious housing gross sales rose by 260% in Hyderabad between January-September in FY 2024. Anarock knowledge confirmed that 13,630 items have been offered throughout this era as towards 3,790 items offered in 9 months in 2023.
A complete of 44,220 properties throughout all finances classes have been offered in Telangana’s capital between January and September with luxurious share at 31%.
The Mumbai Metropolitan Area (MMR) noticed luxurious housing gross sales improve by 74% yearly from 20,820 items (approx) within the first nine-month to 36,130 items in the identical interval this 12 months. Town noticed round 1,11,280 items offered throughout all finances classes till September 2023 of which the posh share was 32%.
In NCR, 49,480 items have been offered between January and March of which luxurious accounted for 28%.
“MMR, NCR, and Hyderabad outperformed the opposite cities in luxurious housing gross sales in 9M 2023, with these three cities collectively accounting for approx. 63,390 items offered. In the identical interval in 2022, simply 30,820 luxurious properties – lower than half of the present 12 months’s 9-month tally – have been offered in these three cities. Apparently, not one of the prime 7 cities noticed any deceleration in luxurious housing gross sales. The truth is, all of them went into overdrive,” Anuj Puri, Chairman – ANAROCK Group stated.
Bengaluru noticed a 142% annual leap in luxurious items offered – from approx. 3,810 items offered in 9M 2022 to 9,220 items (Approx) offered in 9M 2023. Town noticed approx. 47,100 items offered throughout all finances classes in 2023 (Jan-Sept), of which the share of luxurious stood at 20%.
In Pune, as many as 6,850 luxurious housing items have been offered till September this 12 months whereas in Chennai, the gross sales elevated by 143% at 3,330 items.
Kolkata noticed luxurious housing gross sales improve by 69% annually–from round 950 items in 2022 to 1,610 items in 2023 between January and September.
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Up to date: 29 Oct 2023, 07:40 PM IST
Supply: Live Mint