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.
Related News Articles
Mumbai Railways to Replace Vegetable Farms with Floral Lands
Big plans are underway to hand over surplus land for real estate, as railways aim to beautify tracks and eliminate health risks associated with vegetable farming.
Protecting Homebuyers' Interests: MahaRERA's New Fund Management Regime
From July 1, developers in Maharashtra must maintain designated bank accounts for homebuyers' payments, ensuring timely project completion and financial transparency.
Priyanka Chopra's Family Rents Out Pune Bungalow for ₹2.25 Lakh Monthly
Discover the luxurious bungalow in Pune's upscale Koregaon Park, recently put up for rent by Priyanka Chopra's family. The bungalow, a perfect blend of opulence and comfort, is available for ₹2.25 lakh per month.
Landmark Developers and Sobha Ltd Secure Prime Parel Land for ₹423.38 Crore
In a significant real estate move, Landmark Developers and Sobha Ltd have jointly acquired a 2.11-acre land parcel at Jerbai Wadia Road, Parel, Mumbai for ₹423.38 crore. This deal, registered on January 23, 2025, marks a key step in the redevelopment of t
Equity Investments in Real Estate Sector Set to Surpass USD 10 Billion in 2024
Equity investments in India's real estate sector are on track to exceed USD 10 billion in 2024, driven by robust developer activity and a surge in demand for residential and commercial properties.
Real Estate Investment in India Surges by 74% to Nearly $3 Billion in Q4
With structural shifts in occupier preferences and evolving market dynamics, real estate investment in India witnessed a significant surge of 74% to nearly $3 billion in the fourth quarter. This positive momentum is expected to continue across core and emerging markets.