Housing sales rises 19 pc in Apr-Jun across 9 cities despite global uncertainties: PropEquity
Sales stood at 94,864 units in the year-ago period across the nine cities — Mumbai, Navi Mumbai, Thane, Delhi-NCR, Bengaluru, Hyderabad, Chennai, Pune and Kolkata
Housing sales rose 19 per cent to 1,12,458 units during April-June across the top nine cities despite global economic uncertainties, according to PropEquity.
Sales stood at 94,864 units in the year-ago period across the nine cities — Mumbai, Navi Mumbai, Thane, Delhi-NCR, Bengaluru, Hyderabad, Chennai, Pune and Kolkata.
New supply of residential properties rose 43 per cent annually to 1,17,609 units during the April-June period.
PropEquity founder and CEO Samir Jasuja said, “The Indian housing market has remained resilient despite the geopolitical uncertainties in the Middle East. Southern markets continue to lead growth, while Mumbai and Navi Mumbai have also seen strong demand. Although some regions such as Thane and Delhi-NCR have witnessed relatively softer activity, overall market sentiment remains positive.”
According to the data, the housing sales in Bengaluru rose to 21,516 units in April-June from 14,676 units in the year-ago period.
In Chennai, sales increased to 6,323 units from 5,354 units.
Sales of residential properties in Hyderabad rose to 14,410 units from 11,815 units.
Mumbai saw sales rising to 10,561 units from 8,006 units, while Navi Mumbai witnessed housing sales growing to 11,029 units from 6,833 units.
In Thane, the sales grew to 16,386 units from 14,832 units.
Housing sales in Pune rose to 18,737 units from 17,196 units.
However, sales in Delhi-NCR fell to 10,082 units from 11,703 units.
In Kolkata, the sales declined to 3,414 units in April-June from 4,449 units in the year-ago period.
Commenting on the report, Property First Realty founder and CEO Bhavesh Kothari attributed sales growth in Bengaluru to infrastructure expansion and job creation in the city.
The demand remains strong from end-users and investors across all price points, he added.
Robin Mangla, President of M3M India, said the 19 per cent surge in housing sales is a strong indicator of sustained consumer confidence and the underlying strength of the residential real estate sector.
Umesh Gowda HA, chairman and founder of Sanjeevini Group, said: “India’s housing market has demonstrated remarkable resilience despite the geopolitical tensions in the Middle East.”
Strong economic fundamentals, sustained policy support and healthy domestic demand have helped the sector remain largely insulated from external uncertainties, he added.
