Housing sales have reached an all-time high in the January-March quarter, as per a report by real estate consultant Anarock. During the quarter, 113,770 units were sold across the top seven Indian cities amid a significant rise in demand for high-ticket priced homes, priced over ₹1.5 crore.
As per Anarock, this is 14% higher than the homes that were sold during the same period last year. By March 2022, 99,550 units were sold. Another report by ProEquity has said that the top 14 cities of the country witnessed an average increase of 7% year-on-year during the first quarter of the calendar year.
Pune, Thane and Hyderabad saw the highest number of housing units being sold. Pune sold 25,536 units in Q1 2023, a market share of around 21% in the entire sales, as per ProEquity. While 24,481 units were sold in Thane, 17,236 units were sold in Hyderabad. These three cities together accounted for 54% of the total sales across the 14 cities.
As per Anarock, almost 45% of people who wanted to buy a house in Delhi-NCR prefer 3 BHK houses. On an average in India, 42% prefer 3 BHK homes. However people in Mumbai Metropolitan Region prefer 2 BHKs over 3BHKs.
ProEquity also reported that the number of new residential units launched in India has declined since the outbreak of covid pandemic. New launches declined 18% year-on-year in the first quarter of 2023.