Sales of apartments priced above ₹1 cr. jump 83% in Jan.-March in 7 cities: JLL India
The Hindu
New Delhi
Sales of apartments priced at ₹1 crore and above rose 83% to 10,988 units during the January-March period this year on rising demand for bigger flats amid the pandemic, according to JLL India. Sales volume in this price category stood at 5,994 units in the year-earlier period.
JLL India on Friday released its quarterly sales data, which includes only apartments, for seven major cities namely Bengaluru, Chennai, Pune, Mumbai, Kolkata, Delhi-NCR and Hyderabad. Rowhouses, villas, and plotted developments, are excluded from the analysis.
According to the data, sales of apartments in price bracket of ₹1-1.5 crore grew to 6,187 units during January-March as compared to 3,450 units a year earlier.
Sales of apartments priced above ₹1.5 crore rose to 4,801 units from 2,544 units in the year-earlier period.
In its Residential Market Update - Q1 2022, JLL India said the total sales of apartments across the seven cities had gone up to 51,849 units in January-March 2022 from 28,352 units in the corresponding period of the previous year.
Sales for the period under review also surpassed the average quarterly sales during the pre-COVID 2018-19 period by a significant 148%.
Sales of apartments in Bengaluru increased to 12,202 units from 5,216 units, while demand in Chennai grew to 3,450 units from 3,200 units.
Mumbai police investigate embezzlement of ₹122 crore from New India Cooperative Bank, leading to RBI restrictions and board supersession.
Taiwan's top tech official emphasizes the need for global semiconductor industry division of labor, not monopolization.
Cupid Ltd reports increased profits, appoints new Chairman, and expands market presence with new products and manufacturing facility.
Lok Sabha committee, led by BJP's Baijayant Jay Panda, to examine Income-Tax Bill 2025 with 31 MPs.
SEBI rejects Gaekwad's plea for competing open offer, solidifying Burman Group's acquisition bid for Religare Enterprises.
Mahindra & Mahindra's electric SUVs XEV 9e and BE 6 receive 30,179 bookings worth ₹8,472 crore on opening day.
Maxivision Group acquires Ojas Eye Hospitals in Mumbai to expand operations in Maharashtra with Rs.500 crore investment.
Markets tumble as Sensex and Nifty decline, with investors wary of foreign fund outflows and muted earnings.
Johnson & Johnson introduces TECNIS PureSee IOL for presbyopia in India, offering high-quality vision and reduced visual symptoms.
PMI Electro Mobility raises ₹250 crore for electric buses, accelerating growth plans with consortium investment.
India's wholesale price inflation slightly eased to 2.31% in January, driven by food and manufactured costs, with fuel prices in deflation.
AI could one day allow people to continue conversations with their loved ones after their death, said Sebastian Thrun, founder of Google X.
India considering liberalized air service agreement with Singapore, potentially allowing more flights and airport access.