India's Real Estate Market Sees 5% Increase in Housing Sales and 18% Growth in Office Demand
The Indian real estate market has witnessed a 5% increase in housing sales and an 18% growth in office demand across top 8 cities, with Mumbai and Bengaluru emerging as the top performers.
Real EstateHousing SalesOffice DemandIndiaKnight Frank IndiaMumbaiBengaluruDelhincrChennaiAhmedabadPuneHyderabadReal Estate NewsOct 03, 2024
Mumbai recorded the highest sales volumes at 24,222 units, a new high for the market, with a 9% year-on-year growth. Bengaluru saw an 11% growth in sales to 14,604 units, while Pune and Hyderabad witnessed a 1% and 9% growth, respectively.
On the office demand front, Bengaluru emerged as the top performer, with a more than two-fold jump in gross leasing of workspace to 5.3 million square feet. Delhi-NCR saw a 26% growth in office demand to 3.2 million square feet, while Chennai and Ahmedabad witnessed a 35% and 69% growth, respectively.
However, office demand in Mumbai fell 17% to 2.7 million square feet, while Pune and Hyderabad saw a decline of 14% and 26%, respectively. Knight Frank India CMD Shishir Baijal said, \
Frequently Asked Questions
What is the growth rate of housing sales in India during the July-September quarter?
5%
Which city recorded the highest sales volumes in housing sales?
Mumbai
What is the growth rate of office demand in Bengaluru?
More than two-fold
Which segment of the housing market is witnessing a decline in sales?
Affordable housing segment
What is the expected growth in office leasing numbers by the end of 2024?
20%
Tags:
Related News Articles
Amitabh and Abhishek Bachchan’s Investment Set to Transform Mulund's Real Estate Market
Mulund, a bustling suburb of Mumbai, is on the cusp of a real estate revolution, thanks to the significant investments made by Bollywood megastars Amitabh and Abhishek Bachchan. Real estate experts believe this move could position Mulund as a leading hots
Real Estate Investment Trusts in India: Recent Regulatory Updates
SEBI introduces new regulations for Small and Medium Real Estate Investment Trusts, revises pricing methodology for privately placed Infrastructure Investment Trusts, and amends SEBI (InvIT) Regulations, 2014.
Delhi-NCR Sees Surge in High-End Property Listings: 34% Priced Over Rs 10 Crore
In a surprising turn of events, 34% of homes currently listed for sale in Delhi-NCR are priced over Rs 10 crore, according to recent data from eXP India, the Indian arm of global real estate firm eXP World Holdings. This trend contrasts sharply with other
Somany Ceramics Experiences a Significant 58.68% Drop in Net Profit for Q3 FY25
Somany Ceramics, one of the leading names in the ceramics industry, has reported a notable decline in its net profit for the third quarter of the fiscal year 2025. This significant drop has raised concerns among investors and industry analysts alike, prom
Hrithik Roshan Invests in Pune’s Kharadi with Office Property Lease
Hrithik Roshan, the Bollywood superstar, has made a significant move in the real estate market by leasing out an office property in Pune's bustling Kharadi area. This strategic investment highlights the growing importance of commercial complexes in the re
Mahindra Sells 20.5 Acres of Land in Mumbai's Kandivali Area to Blueprintify Properties
Mahindra and Mahindra Ltd has sold 20.5 acres of land in Mumbai's Kandivali area to Blueprintify Properties Pvt Ltd, a part of Pune-based real estate firm Rucha Group, for ₹210 crore.