Mumbai Metropolitan Region tops the list across India with housing sales; here’s why

Mumbai Metropolitan Region tops the list across India with housing sales; here’s why

Dominates markets across the nation in volume and value terms, followed by NCR and Pune

Anuj PuriUpdated: Monday, November 21, 2022, 10:57 AM IST
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In value terms, Mumbai Metropolitan Region (MMR) topped the list across India with housing sales worth Rs 74,835 crore in the first half of the current financial year (H1 FY23), followed by the National Capital Region (NCR) with sales of Rs 24,374 crore. While MMR saw a yearly gain of 110% in overall housing sales value (it was Rs 35,610 crore in H1 FY22), NCR saw a 174% jump.

In H1 FY22, NCR saw total housing sales worth Rs 8,896 crore. Approximately 52,185 homes were sold in MMR in the April-September period in the ongoing fiscal, while NCR witnessed sales of approximately 30,300 units in the same period. MMR dominated housing sales both in volume and value terms, followed by NCR and Pune.

Anarock data vouchsafes that the first half of FY23 was a highly upbeat period for the residential market in the top 7 cities, allying fears that housing sales could be impacted by rising property prices and interest rates. The numbers show that Diwali came early for developers, with homes worth Rs 1.56 lakh crore sold across the top 7 cities in H1 FY23.

(The writer is Chairman of ANAROCK Group)

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