look news india
The demand for houses in the country is increasing every year, due to which there has been a record increase in the housing market of India in the first quarter of the year 2024 i.e. from January to March this year. The number of home buyers has increased especially in metro cities Mumbai, Delhi NCR, Bengaluru, Pune, Hyderabad, Ahmedabad, Chennai and Kolkata. Sales during the calendar year stood at 86,345 units, a growth of 9 per cent year-on-year.
According to a report by global property consultancy firm Knight Frank, the demand for sales of homes in the ₹1 crore segment has increased significantly. Compared to last year, there has been a 40 percent increase in home buyers in this segment between January and March. Maximum houses worth Rs 1 crore have been sold in Delhi-NCR. During January to March in the year 2024, 10,558 units worth Rs 1 crore were sold in Delhi NCR.
So many houses worth Rs 1 crore sold in Mumbai!
6,075 homes priced at Rs 1 crore or more have been sold in Mumbai. Bengaluru is in second place, where 7,401 homes have been sold in the Rs 1 crore segment during January to March 2024. Interestingly, the share of sales of homes below ₹50 lakh declined by 10% year-on-year to only 23,026 units sold. , It has been said in the report that people have made huge purchases in houses worth Rs 1 crore.
Where were most of the houses completed?
According to the report, residential development has accelerated due to continuous increase in demand. A total of 93,254 new residential units were built between January-March 2024, registering an increase of 7% year-on-year. Among the eight cities, Kolkata saw an 89% increase in newly constructed housing units to 6,021 in Q1 2024, compared to 3,178 in Q1 2023.
How much price in which city?
Along with the sales of houses, there has also been a record increase in their prices. There has been a 13 percent year-on-year jump in eight metro cities. There has been a record increase in house prices, especially in the premium segment. Mumbai still ranks first in terms of the most expensive house, where the price per square foot is Rs 7,891. Similarly, the price in Bengaluru is ₹ 6145/sq ft, Hyderabad is ₹ 5,655/sq ft and NCR is ₹ 4787/sq ft.