India's Housing Market Sees 5% Growth in Q2 FY25, Driven by Demand for Premium Homes
Housing sales in India rose 5% annually during July-September to 87,108 units in eight major cities, driven by demand for premium homes, according to Knight Frank India.
Real EstateHousing MarketIndiaKnight Frank IndiaPremium HomesAffordable HousingReal Estate MumbaiOct 03, 2024
According to Knight Frank India's report 'India Real Estate', the growth in housing sales is a positive trend, despite concerns in the affordable housing segment. The report noted that sales in the affordable housing segment have declined due to availability and affordability challenges. The highest sales volumes were recorded in Mumbai at 24,222 units, which is a new high for the market. Sales in Mumbai grew 9% year-on-year. Among the larger markets, sales grew the most in Bengaluru at 11% YoY with 14,604 units.
Housing sales in Pune were up 1% to 13,200 units, while demand in Hyderabad grew 9% to 9,114 units. Ahmedabad saw an 11% growth in sales to 4,578 units, while Kolkata witnessed a 14% growth in sales to 4,309 units. Housing sales in Chennai increased 6% to 4,105 units. However, sales of residential properties in Delhi-NCR declined 7% to 12,976 units during July-September as compared to the year-ago period.
Frequently Asked Questions
What was the growth rate of housing sales in India in Q2 FY25?
5%
What drove the growth in housing sales in India in Q2 FY25?
Demand for premium homes
Which city saw the highest sales volumes in Q2 FY25?
Mumbai
What was the growth rate of sales in the affordable housing segment in Q2 FY25?
Decline due to availability and affordability challenges
Which city saw a decline in sales of residential properties in Q2 FY25?
Delhi-NCR
Related News Articles
Maharashtra CM Swearing-in: PM Modi Joins Fadnavis Oath Ceremony at Azad Maidan
Devendra Fadnavis was sworn in as the chief minister of Maharashtra in the presence of Prime Minister Narendra Modi, marking a significant moment in the state's political landscape.
REA India Appoints Abhishek Makkar as Chief Technology Officer for Housing.com and PropTiger.com
REA India, the parent company of Housing.com and PropTiger.com, has appointed technology veteran Abhishek Makkar as its new Chief Technology Officer. This strategic move is aimed at enhancing the company's technological capabilities and driving innovation
Realtors Shift Focus to Tier-2 Cities: A New Frontier in Real Estate
While tier-1 cities continue to drive the real estate market, realtors are increasingly looking towards tier-2 cities for new opportunities. These emerging markets offer a mix of potential growth and affordability, making them an attractive choice for bot
Puravankara Acquires 12 Mumbai Commercial Properties for Rs 242 Cr: A Strategic Move
Bengaluru-based real estate developer Puravankara Ltd has made a significant acquisition, purchasing 12 commercial properties in Mumbai for Rs 242 crores. This strategic move aims to strengthen the company's foothold in the Mumbai market and diversify its
Real Estate Sector Slowdown: Adjusting Launch Pipelines Amidst Market Uncertainty
The real estate market, particularly in Gurugram, is facing a slowdown due to increased market uncertainty and reduced liquidity. Developers are now recalibrating their launch pipelines to navigate these challenging conditions and ensure sustainable growth.
MAKS Networking to Host India's First International Real Estate Investment Summit in Ahmedabad
The MAKS Networking Conference 2025 is set to redefine India's real estate landscape, offering unparalleled insights into market trends, emerging opportunities, and innovative strategies. This premier event aims to connect investors, developers, and industry experts from across the globe.