ANAROCK Report: Housing Sales Surge 14% in Major Indian Cities, Average Prices Rise 10-32%

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ANAROCK, a reputable name in the real estate consultancy sector, has recently published data shedding light on the housing market trends in India's major cities during the first quarter of the year. The report reveals a notable 14% upsurge in housing sales across seven prominent urban centers, signaling a robust demand for residential properties. This surge in sales is complemented by a substantial increase in average property prices, ranging from 10% to an impressive 32%. Such a significant rise in average prices underscores the growing value of residential real estate in these key markets.

Among the cities surveyed, Mumbai Metropolitan Region (MMR) emerges as the frontrunner, experiencing a remarkable 24% surge in housing sales. This surge is followed by Pune, Bengaluru, and Hyderabad, all of which witnessed an uptick in housing transactions. However, not all cities experienced growth, as Delhi-NCR, Chennai, and Kolkata reported declines in housing sales during the same period, highlighting regional disparities in market dynamics.

An intriguing aspect highlighted in the report is the heightened demand for high-ticket homes priced at Rs 1.5 crore and above. This surge in demand has contributed significantly to the overall sales volume, reaching its highest level in the past decade. Moreover, both public sector units (PSUs) and private entities have displayed keen interest in acquiring prime residential properties, further driving up sales figures.

The report attributes the increased demand for housing to several factors, including sustained economic growth and ongoing infrastructure development projects. Furthermore, the appreciation of average residential property prices reflects the perceived value and desirability of owning real estate in these urban centers.

Looking ahead, the outlook for the housing market appears promising, with continued momentum expected in the coming months. As economic activities pick up pace and infrastructure projects near completion, the demand for residential properties is anticipated to remain strong, further fueling growth in the real estate sector.