New Delhi. Despite the rise in property prices and interest rates, the demand for housing remains strong in eight major cities of the country, with home sales in these cities growing 49 per cent year-on-year to 83,220 units during the July-September period. This information was given in the report of real estate brokerage company PropTiger.
55,910 units were sold in July-September last year
55,910 units were sold in the same quarter last year. PropTiger reported in its July-September 2022 quarterly report that sales of existing homes have exceeded pre-pandemic levels in the same quarter of 2019.
Despite the increase in interest rates, there is no reduction in the demand for homes
Vikas Wadhawan, Group CFO, PropTiger.com, Housing.com and Makaan.com, said the real estate industry is recovering from the pandemic and the disruptions caused by it. Despite the increase in interest rates, the demand for homes has not decreased. He said that people want to take their house and this is the reason for the increase in demand.
Home sales in Mumbai stood at 28,800 units
According to the data, home sales in Mumbai stood at 28,800 units in the July-September quarter, more than double the 14,160 units in the same period last year. Sales in Pune increased by 55 per cent to 15,700 units from 10,130 units last year. In Delhi-NCR, it increased by 22 percent to 5,430 units from 4,460 units last year.
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Home sales in Ahmedabad increased by 44 per cent to 7,880 units this year as compared to 5,480 units in July-August last year. In Bengaluru, it increased by 20 per cent to 7,890 units from 6,550 units last year. Home sales in Hyderabad increased by 35 per cent to 10,570 units from 7,810 units last year.
Home sales in Chennai and Kolkata down 5-5 percent
According to the data, the sale of houses in Chennai and Kolkata decreased by 5-5 percent. In Chennai, it has come down to 4,420 units this year as compared to last year’s 4,670 units. Between July and September last year, 2,650 units were sold in Kolkata, which declined to 2,530 units this year.
Tags: housing project groups, real estate
FIRST PUBLISHED : September 29, 2022, 17:33 IST