RBI s decision to keep lending rates unchanged presents EMI-dependent homebuyers and those waiting on the sidelines to fulfill their home-ownership aspirations
Among the key markets, Mumbai Metro Region (MMR) continued to lead the pack with 42,920 units absorbed during Q1, 2024 - which was 24% higher than 34,690 units in the corresponding quarter previous year.
Housing sales rose 14% in top cities during Jan-Mar. Average prices increased by 10-32%. Mumbai, Pune, Bengaluru, Hyderabad experienced growth, while Delhi-NCR, Chennai, Kolkata saw declines. Kolkata, Signature Global Chairman, Mohit Jain s contributions were significant.
The Indian housing market saw record-breaking sales in Q4FY24, with 130,170 units sold across the top 7 cities, marking a 14% yearly increase. Total sales for FY24 reached 492,900, a 30% rise from the previous year. Despite new launches surpassing 100,000 units, inventory dropped by 7% annually. Notably, NCR witnessed the highest decline in unsold stock.