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About 3 lakh homes worth ₹4.26 lakh crore sold in Jan-Sep; Pune, Delhi-NCR top performers in Q3
While Pune sold the highest number of units, Delhi secured the largest market share in terms of the value of homes sold during the quarter ended September 2024
Indians purchased approximately 3 lakh homes worth ₹4.26 lakh crore during the January-September period of 2024 across the top six cities in India, according to a report released by real estate data analytics platform CRE Matrix.
In the September quarter alone, India recorded sales of 92,208 home units worth ₹1.38 lakh crore across Mumbai, Thane, Delhi-NCR, Pune, Hyderabad, Kolkata and Bengaluru. Meanwhile the number of units launched during the three-month period stood at 73,974, per the report.
Overall, the number of homes sold across the top six cities declined 5% year-on-year during the third quarter of 2024, however, the value of homes sold during the three-month period jumped by 23%, reflecting a rise in the value of residential units across the country.
Delhi-NCR led the pack with homes worth ₹41,219 crore sold during the September quarter, while Pune sold the highest number of units at 18,749, bagging a 20% share in the overall sales pie.
In the nine months leading to September 2024, Delhi-NCR sold homes costing a total of ₹1.2 lakh crore, breaching the overall value clocked in the full calendar year of 2023. In the third quarter of 2024, the National Capital Region contributed a 15% share to the number of homes registered across all major cities with double the sales volume observed in Q3 2023.
The value of homes sold in Mumbai and Delhi-NCR collectively accounted for 49% of the total sales during Q3 2024 at ₹68,000 crore, the report stated. It added that the average price per unit of homes sold so far in the ongoing calendar stood at ₹1.4 crore.
Upward trend in Mumbai
India’s financial capital Mumbai recorded registration of 12,101 homes during the third quarter of 2024, involving a value of ₹26,824. Meanwhile the city saw lunches to the tune of 8,089 units during the three-month period.
Furthermore, approximately 86% of the total value of units sold in CY23 was achieved by the end of Q3 CY24, reaching ₹73,000 crore, the report underscored. This suggests a strong upward trend in the market, it said.
Also Read: Housing sales up 5% at 87,000 units across top 8 cities in Jul-Sep with Mumbai topping the list
In Bengaluru, the number of units registered during the July-September period declined 15% year-on-year to 13,589, while the value of the homes sold during the quarter fell approximately 7% to ₹18,005 crore. A total of 10,954 units were launched during the three-month period, per the report.
The report further highlighted that the value of units sold till Q3 CY24 increased by 72% compared to CY21, reaching a total value of ₹62,000 crore in the IT capital.
Hyderabad on the other hand sold a total of 15,620 units worth ₹26,633 crore during the September quarter, accounting for the second-highest share in the total sales tally at 17%.
According to the report, approximately 72% of the value of units sold across Hyderabad in CY23 had been achieved in the first 9 months of 2024 at ₹83,000 crore. The city recorded the launch of 11,265 home units during the third quarter.
In Pune, the number of homes registered in the September quarter declined approximately 13% year-on-year to 18,749, while the value of the units sold during the period fell 8% to ₹13,788 crore. The city saw a total of 11,795 units launched during the quarter.
Lastly, Kolkata recorded a 35% annual jump in the value of homes sold in Q3 2024 ( ₹3,836 crore) and a 22% growth in the number of units registered during the period (5,323). The value of units sold in the January-September period increased by 78% compared to CY21, reaching a total value of ₹11,500 crore.
