Bengaluru: Between July and September, three big cities in South India — Hyderabad, Bengaluru, and Chennai — saw a big rise in the number of homes sold.
Together, they sold 47% more houses than the same time last year. In total, these three cities sold 38,644 homes, compared to 26,284 homes last year. Hyderabad had the biggest jump, with sales going up 53% (from 11,564 to 17,658 homes). Bengaluru’s home sales increased by 18% (from 11,160 to 13,124 homes). Chennai’s sales more than doubled, rising from 3,560 to 7,862 homes, reported the news agency PTI. Even though overall demand for houses fell slightly in eight major cities, these three southern cities showed strong growth in home sales. Overall, India's top-eight primary housing markets (first-sale) saw a 1 per cent decline in sales during July-September, mainly due to lower demand in Mumbai, Pune, and Delhi-NCR, the consultant said. Also Read: Mumbai: Newborn Girl Covered in Crawling Ants Found Abandoned Between Parked Buses As per the data, the housing sales across eight major cities fell 95,547 units during the third quarter of this calendar year from 96,544 units in the corresponding period of the preceding year. Among the eight cities, housing sales in the Mumbai Metropolitan Region (MMR) fell 22 per cent to 23,334 units during the period under review from 30,010 units in the year-ago period. In Pune, the sales declined 28 per cent to 12,990 units from 18,004 units. Sales of residential properties in Delhi-NCR decreased 21 per cent to 7,961 units from 10,098 units. Ahmedabad saw a 5 per cent dip in sales to 8,889 units from 9,352 units. Lastly, sales of residential properties in Kolkata increased 33 per cent to 3,729 units during July-September this year from 2,796 units in the year-ago period. On the outlook, Aurum PropTech Executive Director Onkar Shetye noted that favourable conditions, such as the stability in interest rates and proactive policy reforms like the recent GST reduction on cement, have provided a crucial buffer against rising input costs and bolstered developer confidence. "We are optimistic about the upcoming festive quarter, which will serve as a key indicator of consumer demand. However, it will also be a true test of the market's ability to balance this growth momentum with emerging affordability challenges, particularly in the mid and entry-level segments," he observed. Aurum PropTech owns and operates a rental marketplace NestAway Technologies, data analytics firm Aurum Analytica and sales automation platform Sell.do, besides PropTiger. (With Agency Inputs)
