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
Sunteck Realty Reports Net Profit of Rs 101.33 Crore in Q4 FY24
Sunteck Realty's net consolidated total income stood at Rs 434.99 crore in Q4 FY24
Ashwin Sheth Redefines Luxury Real Estate with New Logo Unveiling
Ashwin Sheth, a prominent luxury real estate developer, celebrates 38 years of heritage with a new logo launch at Times Square, New York, and across Mumbai
GCCs to Dominate 35% of India's Commercial Real Estate by 2024
Mumbai and Bengaluru remain key hubs, with 80% of GCCs catering to international clients, highlighting India's strategic significance in the global business landscape.
From Trump to Zelensky: The Global Impact of Real Estate and Security
The world of real estate and security has seen significant shifts, from the controversial actions of former U.S. President Donald Trump to the resilience of Ukrainian President Volodymyr Zelensky. This article delves into the global implications of these
Mumbai's Luxury Real Estate: Omkar Realtors Promoter’s Wife Acquires ₹68 Crore Property in Worli
In a significant real estate transaction, Aruna Varma, the wife of an Omkar Realtors promoter, has purchased a luxurious property in Worli for a staggering ₹68 crore. This deal highlights the growing interest in Mumbai's premium property market, particula
Pune IGR Urged to Address Issues Before Launching Rental Agreement 2.0
Pune: Property owners, tenants, and legal experts urge the Income Tax Department to resolve critical issues before the launch of Rental Agreement 2.0 to ensure a smoother and more user-friendly experience.