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.
Tags:
Related News Articles
Property Expo 2024 Kicks Off in Vizag, Showcasing Real Estate Trends and Opportunities
Visakhapatnam News - Property Expo 2024 kicks off in Vizag, showcasing real estate trends and opportunities. The event is expected to attract thousands of attendees, including buyers, investors, and developers.
North Bengaluru: A Thriving Hub in the Real Estate Market
North Bengaluru has emerged as one of the most dynamic and rapidly developing regions in the city's real estate market, attracting investors and homebuyers alike.
Exploring Nayanthara's Luxurious Real Estate Portfolio in India
Take an inside look at actress Nayanthara's impressive real estate portfolio, spanning luxurious properties in Chennai, Hyderabad, and Kerala, valued at over Rs 100 crore.
Priyanka Chopra Sells Four Mumbai Flats for ₹16.17 Crore: A Strategic Real Estate Move
In a significant real estate transaction, actress Priyanka Chopra has sold four luxurious flats in Mumbai for a total of ₹16.17 crore. This move reflects her strategic approach to property management and investment. The sale comes on the heels of previous
ORERA Fines Real Estate Company Rs 62 Lakh for Parking Violations
Bhubaneswar: The Odisha Real Estate Regulatory Authority (ORERA) has imposed a fine of Rs 62 lakh on a city-based realtor for failing to provide adequate parking space for flat owners.
Eleganz Interiors Files DRHP with NSE Emerge
Eleganz Interiors plans to use Rs 25 crore from the IPO proceeds to repay a portion of its outstanding borrowings, as it files its DRHP with NSE Emerge.