NEW DELHI: The total value of sold housing inventory is expected to cross the Rs 4.5 lakh crore mark, about 38% higher than the total sales value of entire 2022, which saw Rs 3.27 lakh crore worth of homes sold, according to the data by Anarock group.
In the first nine months of 2023, the total residential property sales value in top seven cities touched approximately Rs 3,48,776 crore. Between January and September 2023, about 3.49 lakh units were sold in the top seven cities.
Anuj Puri, chairman, Anarock group said, “The fact that the housing sales value in 9M 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% this year, makes an apple-to-apple comparison of annual sales values challenging.”
In Q1 2023, homes worth Rs 1,12,976 crore were sold in the top seven cities, Q2 2023 saw a jump of 1%, and then a further jump of 8% in Q3 2023. “Thus, we expect the overall housing sales value to cross Rs 4.5 lakh crore by 2023-end,” said Puri.
Mumbai Metropolitan Region (MMR) topped the list with approximately Rs 1,63,924 crore worth of inventory (about 1,11,280 units) sold in the first nine months of 2023, followed by National Capital Region (NCR) with approximately cumulative sales value of Rs 50,188 crore.
Bengaluru saw homes worth approximately Rs 38,517 crore while in Hyderabad, about 44,220 units worth approximately Rs 35,802 crore sold in the period.
Pune saw about 63,480 units worth approximately Rs 39,945 crore sold till September 2023, Chennai witnessed approximately 16,310 units worth about Rs 11,374 crore sold and Kolkata saw approximately Rs 9,025 crore worth of housing inventory (17,280 units) sold during the said period.
