Indian Real Estate Market Sees Quarterly Slump, NCR Defies Trend
Real estate sales in India's top seven cities dip 8% in Q2 2024, but NCR bucks the trend with a 6% increase
Real EstateIndian Real Estate MarketAnarock ResearchHousing SalesProperty PricesReal Estate MumbaiJun 27, 2024
The top seven cities, which include Mumbai, Delhi, Bengaluru, Pune, Chennai, Hyderabad, and Kolkata, witnessed a quarterly decline in housing sales from 1,30,170 units in Q1 2024 to 1,20,340 units in Q2 2024. This drop is attributed to increasing property prices and a high base record of the previous quarter.
Anuj Puri, Chairman of ANAROCK Group, commented,
Frequently Asked Questions
What was the decline in housing sales in Q2 2024 compared to Q1 2024?
Housing sales declined by 8% in Q2 2024 compared to Q1 2024.
Which region saw a quarterly rise in housing sales in Q2 2024?
The National Capital Region (NCR) saw a quarterly rise of 6% in housing sales in Q2 2024.
What was the annual rise in residential prices in the top seven cities?
The average residential prices saw an annual rise of 25% in the top seven cities.
How many units were sold in the top seven cities in Q2 2024?
Around 1,20,340 units were sold in the top seven cities in Q2 2024.
What was the reason for the decline in housing sales in Q2 2024?
The decline in housing sales in Q2 2024 was due to increasing property prices and a high base record of the previous quarter.
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