Housing sales volume falls 4% in 2024 in top 7 cities; value up 16% to ₹5.68 lakh crore: Anarock
The Hindu
Anarock reports 21% rise in housing prices in 7 major cities, despite 4% drop in sales volume.
Housing sales are estimated to fall 4 per cent this year in seven major cities to nearly 4.6 lakh units on lower launches, while sales in value terms are up 16% to ₹5.68 lakh crore, according to Anarock.
Average housing prices grew 21% this year across the seven major cities on rising rates of land, labour and some building raw materials.
Anarock, which is one of the leading housing brokerage firms in India, attributed the fall in sales volumes during 2024 to a drop in new launches of housing projects because of a delay in regulatory approvals amid general and assembly elections.
Nevertheless, the appreciation in housing prices helped sales to grow in value terms during this year.
Real estate consultant Anarock on Thursday released its housing market data, showing a marginal 4% drop in sales across the 7 major cities to 4,59,650 units during 2024 against 4,76,530 units in 2023.
However, the overall sales value of housing units saw a 16% annual growth to ₹5.68 lakh crore in 2024 from ₹4.88 lakh crore in the preceding year.
On fresh supply of housing properties, Anarock data showed a 7% decline to 4,12,520 units in 2024 against 4,45,770 units in 2023.
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