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Housing sales for Delhi-NCR cross ₹50 lakh crore mark

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Erric Ravi
Erric Ravihttps://www.gurgaontimes.co.in
Erric Ravi is an entrepreneur, speaker & the founder of Storify News and Recent News He is the Co-Founder of The Storify News Times. Forbes calls him a top influencer of Chief Marketing Officers and the world’s top social marketing talent. Entrepreneur lists him among 50 online marketing influencers to watch. Inc.com has him on the list of 20 digital marketing experts to follow on Twitter. Oanalytica named him #1 Global Content Marketing Influencer. BizHUMM ranks him as the world’s #1 business blogger.

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Housing sales across the top seven markets in India saw a massive boost this year, registering more sales in the first nine months of 2023 than in 2022 in its entirety, real-estate consultancy firm Anarock said in a report released on Thursday. The report also noted that Delhi-NCR was the second-best performing market in the industry, with sales of more than 50,000 crore.

Delhi-NCR saw cumulative sales of <span class=
Delhi-NCR saw cumulative sales of 50,188 crore (49,475 units). (HT Archive)

According to Anarock, the top seven cities in India saw inventory worth 3.48 lakh crore sold in the first nine months, compared to the 3.26 lakh crore generated through the sale of residential property in 2022. The firm also predicted that given the strong trends this year, housing sales in 2023 could touch 4.5 lakh crore.

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As per the data, Mumbai topped the list, with sales of 1.63 lakh crore worth of inventory (around 111,280 units) in the first nine months of 2023. This was followed by Delhi-NCR, with cumulative sales of 50,188 crore (49,475 units). Anuj Puri, chairman of Anarock group, said, “The fact that the housing sales value in nine months of 2023 exceeded that of the whole of entire 2022 reflects the increased demand for premium luxury homes this year. This, along with the fact that average prices in the top cities rose by 8-18% this year, makes an apple-to-apple comparison of annual sales values challenging.”

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