Residential Property Registrations See 4% Upswing in 8 Major Indian Cities in 2024
The Indian residential real estate market is showing promising signs of recovery post-pandemic, with a 4% rise in property registrations in eight major cities, including Mumbai, Bengaluru, and Hyderabad.
Residential PropertyReal EstateProperty RegistrationsMajor CitiesMarket UpcycleReal Estate NewsDec 31, 2024
This upward trend is a clear indication of the market's resilience and the growing sentiment for homeownership.
New Delhi, Dec 31 (PTI) - The registration of residential properties in these eight cities, which also include Pune, Navi Mumbai, Thane, Noida, Greater Noida, and Ghaziabad, rose 4% compared to the previous year.
The total value of these transactions exceeded Rs 4 lakh crore, marking a 2% year-on-year (YoY) growth over 2023.
Square Yards, a leading real estate consultant, cited government registration data to highlight the robust performance of the residential real estate sector.
The firm noted that the sector has entered a promising upcycle post-pandemic, driven by pent-up demand and a renewed confidence in the market.
Frequently Asked Questions
What cities saw a 4% rise in residential property registrations in 2024?
The cities that saw a 4% rise in residential property registrations in 2024 are Mumbai, Bengaluru, Hyderabad, Pune, Navi Mumbai, Thane, Noida, Greater Noida, and Ghaziabad.
What was the total value of the residential property transactions in 2024?
The total value of the residential property transactions in 2024 exceeded Rs 4 lakh crore.
Who is Tanuj Shori and what is his role in Square Yards?
Tanuj Shori is the Founder and CEO of Square Yards, a leading real estate consultant in India. He provides insights and analysis on the real estate market, highlighting trends and market conditions.
What factors contributed to the 4% rise in property registrations?
The 4% rise in property registrations was attributed to pent-up demand and a stronger sentiment for homeownership, bolstered by the market's recovery post-pandemic.
What services does Square Yards offer in the real estate sector?
Square Yards offers a range of services in the real estate sector, including property search, valuation, and legal assistance. They provide comprehensive insights and data to help clients make informed decisions.
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