A recent report by housing brokerage firm, Anarock, said the housing sales are estimated to fall 4 per cent this year in seven major cities to nearly 4.6 lakh units on lower launches.
Housing price representation, image (photo, IANS)
A recent report by housing brokerage firm, Anarock, said the housing sales are estimated to fall 4 per cent this year in seven major cities to nearly 4.6 lakh units on lower launches.
While the sales in value terms are up 16 per cent to Rs 5.68 lakh crore, it said.
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Average housing prices grew 21 per cent this year across the seven major cities on rising rates of land, labour and some building raw materials.
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Anarock attributed the fall in sales volumes during 2024 to a drop in new launches of housing projects because of a delay in regulatory approvals amid general and assembly elections.
The firm released its housing market data, showing a marginal 4 per cent drop in sales across the 7 major cities to 4,59,650 units during 2024 against 4,76,530 units in 2023.
The overall sales value of housing units saw a 16 per cent annual growth to Rs 5.68 lakh crore in 2024 from Rs 4.88 lakh crore in the preceding year.
On fresh supply of housing properties, Anarock data showed a 7 per cent decline to 4,12,520 units in 2024 against 4,45,770 units in 2023.
Anarock also released the city-wise analysis of the sales in 2024. It said the housing sales in Delhi-NCR are set to fall 6 per cent to 61,900 units this year from 65,625 units in 2023.
Mumbai Metropolitan Region (MMR) saw a marginal 1 per cent increase in sales to 1,55,335 units from 1,53,870 units. While Bengaluru witnessed a rise of 2 per cent to 65,230 units from 63,980 units.
Housing sales in Pune fell 6 per cent to 81,090 units from 86,680 units.
Hyderabad witnessed a 5 per cent fall in sales to 58,540 units from 61,715 units, while Chennai saw a 11 per cent decline to 19,220 units from 21,630 units.
Housing sales in Kolkata fell 20 per cent in 2024 to 18,335 units from 23,030 units in the previous year.
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