Indian Housing Market Sees 5% Growth in Top 8 Cities
The Indian housing market has witnessed a 5% growth in the top 8 cities, driven by strong demand for premium homes. According to a report by Knight Frank India, the growth is led by cities like Mumbai, Bengaluru, and Hyderabad.
Housing SalesReal EstateKnight Frank IndiaMumbaiDelhincrBengaluruPuneHyderabadAhmedabadKolkataChennaiPremium HomesAffordable HousingReal Estate PuneOct 03, 2024
The report, titled 'India Real Estate', highlights that the momentum in the residential market has trended up well in 2024, with Q3 recording the highest quarterly sales this year. However, the growth is not uniform across all cities, with Delhi-NCR witnessing a decline of 7% in sales.
Mumbai has emerged as the top performer, with sales reaching a new high of 24,222 units, growing 9% year-on-year. Bengaluru and Hyderabad have also seen significant growth, with sales increasing by 11% and 9% respectively.
The report also highlights that there are concerns in the affordable housing segment, with sales declining due to availability and affordability challenges.
Knight Frank India is a leading real estate consultant, providing expert advice and services to developers, investors, and occupiers. With a presence in over 500 cities across the globe, the company has a deep understanding of the real estate market and provides actionable insights to its clients.
Frequently Asked Questions
What is the growth rate of the Indian housing market in the top 8 cities?
The Indian housing market has seen a growth rate of 5% in the top 8 cities.
Which city has seen the highest sales volume in the July-September quarter?
Mumbai has seen the highest sales volume, with sales reaching 24,222 units.
What is the reason for the decline in sales in the affordable housing segment?
The decline in sales in the affordable housing segment is due to availability and affordability challenges.
Which cities have seen significant growth in sales?
Bengaluru and Hyderabad have seen significant growth in sales, with sales increasing by 11% and 9% respectively.
What is the price range of premium homes?
Premium homes are priced above Rs 1 crore.
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