New Delhi: Real estate consultant Knight Frank India reported that housing sales increased 5 per cent while gross office leasing surged 18 per cent annually during July-September across major cities including, Mumbai, Pune, Bengaluru, Chennai, Hyderabad, Ahmedabad and Kolkata. In its report ‘India Real Estate’ for the third quarter of 2024 calendar year, it stated that the demand stayed strong for premium homes and workspaces.
Data showed that housing sales increased 5 per cent during July-September to 87,108 units across eight cities from as compared to 82,612 units in the year-ago period.
With multi-national companies demanding to set up Global Capability Centres (GCCs), the gross leasing of office space rose 18 per cent to 19 million square feet from 16.1 million square feet.
While Knight Frank report showed a marginal increase in housing sales during the second quarter of 2024-25. Anarock and PropEquity reported a drop in total sales.
“Momentum in the residential market has trended up well in 2024 with Q3, 2024 recording the highest quarterly sales this year at 87,108 units,” Knight Frank said in the report.
Knight Frank India CMD Shishir Baijal said the demand for premium housing costing above Rs 1 crore each has increased which has ultimately led to a growth in housing sales is driven by demand for premium housing costing above Rs 1 crore each.
“There are concerns in affordbale housing segment,” Baijal said.
Delhi-NCR: Knight Frank India stated that housing sales in this region dipped by 7 per cent YoY (year-on-year).
Mumbai: Mumbai recorded the highest sales volumes at 24,222 units. Sales in the Maharashtra capital Mumbai increased 9 per cent year-on-year.
Bengaluru: Bengaluru reported impressive growth in housing sales as sales grew the most in at 11 per cent YoY with 14,604 units.
Pune: Housing sales in Pune increased 1 per cent to 13,200 units.
Hyderabad: Housing sales demand grew 9 per cent to 9,114 units.
Ahmedabad: The Gujarat capital witnessed 11 per cent growth in sales to 4,578 units.
Kolkata: The ”City of Joy’ recorded a 14 per cent growth in sales to 4,309 units.
Chennai: Housing sales in Tamil Nadu capital rose 6 per cent to 4,105 units.
Delhi-NCR: Sales of residential properties dropped 7 per cent to 12,976 units during July-September as compared to the year-ago period.
On office demand, Knight Frank said the gross leasing of workspace in Bengaluru jumped more than two-fold to 5.3 million square feet from 2.1 million square feet.
Housing sales increased 5 per cent, office demand rose 18 per cent during July-September across top 8 cities, Knight Frank India reported. Biz News Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
