Housing sales up 41 per cent at 88,234 units in Jul-Sep in 7 cities

New Delhi: Sales of residential properties increased 41 per cent to 88,234 units in July-September this year across seven major cities, property consultant Anarock said on Friday.

The housing brokerage firm released its quarterly data of seven major cities -- Delhi-NCR, Mumbai Metropolitan Region (MMR), Chennai, Kolkata, Bengaluru, Hyderabad and Pune.

As per the data, housing sales rose 41 per cent to 88,234 units in the third quarter (July-September) of 2022, from 62,799 units in the year-ago period. New launches increased 45 per cent to 93,490 units from 64,560 units in these seven cities.

"The momentum of both housing sales and new launches stayed strong in the top 7 cities in Q3 2022 despite major headwinds. The appetite for homeownership has remained undeterred, with maximum sales being driven by end-users," Anarock Chairman Anuj Puri said.

He noted that there has been an increase in new supply by the leading and listed developers, who also reported robust housing sales.

Puri felt that the rising trend would "very likely" continue in the upcoming festive quarter as well, since homeownership sentiment has increased post the pandemic.

To maintain the sales momentum during the festive season, developers have rolled out lucrative launch offers which are being received well in the market, he added.

Puri, however, cautioned that "if inflation remains at elevated levels forcing RBI to aggressively increase interest rates, there might be some turbulence in the market".

Housing sales in Delhi-NCR rose 46 per cent to 14,966 units in the July-September quarter, from 10,220 units in the year-ago period.

In Mumbai Metropolitan Region (MMR), sales of residential properties increased 26 per cent to 26,400 units from 20,965 units.

Bengaluru saw 48 per cent rise in sales to 12,690 units from 8,550 units, while Pune witnessed 45 per cent increase to 14,080 units from 9,705 units.

Housing sales in Hyderabad went up 73 per cent to 11,650 units from 6,735 units, while in Chennai, sales rose marginally by 3 per cent to 3,495 units from 3,405 units.

Kolkata saw a 54 per cent increase in housing sales to 4,953 units during July-September this year, from 3,219 units in the corresponding period of the previous year.

Housing sales in July-September rose 4 per cent to 88,234 units, as against 84,925 in the previous quarter.

Residential property prices across these seven cities registered a quarterly increase in the range of 1-2 per cent in July-September.

On an annual basis, prices have risen by 4-7 per cent primarily due to an increase in input costs and revival in demand post-COVID.

On Thursday, housing brokerage firm PropTiger reported that housing rose 49 per cent year-on-year to 83,220 units in July-September across eight major cities.