Demand for homes and residential flats trended up significantly during third quarter - July, August and September 2023, registering a sale of 82,612 residential units and recording a growth of 12% across eight major markets in the country as compared to the same corresponding period last year.
Q3 records a six-year high in quarterly sales volumes
These are the findings of the latest report “Indian Real Estate Q3 2023” released by Knight Frank India, the premier real estate consultancy recently. Of the eight markets (Mumbai, Kolkata, NCR, Bengaluru, Pune, Hyderabad, Ahmedabad and Chennai), Kolkata showed the highest growth rate at 105%, NCR grew by 27%, Pune at 20% and Mumbai by 4%.
In volume terms, Q3 recorded a six-year high in quarterly sales volumes. It was the mid and highend category of residential properties that saw a high sales momentum in this quarter. While properties costing over ₹1 crore recorded a rise of 39%, the mid segment ₹50 lakh-1crore ticket size stood 14%. A total of 28,642 units costing ₹1 crore were sold in this quarter followed by 29,827 homes costing ₹50 lakh-1 crore. The affordable or low end segment costing less than ₹50 lakh on the other hand, showed a decline of 10% with just 24,143 units being sold.
