Affordable Homes: The country's housing sector has been performing well since 2023. Demand for houses is on the rise even in 2024. Between January and March this year, there has been a 41 percent jump in house sales in the top 8 cities of the country and it has reached the figure of 1,20,640 units. In the same period last year, this figure was 85,840 units. It has been seen in the new trend that the demand for cheap houses has decreased rapidly. People are now turning towards bigger houses.
Sales of houses up to Rs 45 lakh decreased
According to the data of housing brokerage company Prop Tiger, the sales of houses up to Rs 45 lakh in big cities of the country have decreased by about 22 percent. In the same period last year, the sale of these houses was about 48 percent of the total sales. Of the 1,20,640 houses sold between January and March 2024, the figure for houses up to Rs 25 lakh is only 5 percent. This was about 15 percent in the same period last year. After this, sales in the category of houses priced between Rs 25 to 45 lakh have been about 17 percent of the total sales, which was 23 percent during January-March last year.
Sharp jump in sales of houses priced above Rs 1 crore
According to the report, after Covid 19, people started feeling the need for a bigger house. Therefore, for quite some time now people have been wanting to buy only big houses. During the first quarter of 2024, the sales of expensive houses above Rs 1 crore have been 37 percent. In the first quarter of 2023, this figure was 24 percent. However, the sales of houses priced between Rs 45 to 75 lakh remained 26 percent during this period, this figure of sales remained the same in the same period last year. After this, the sale of houses ranging from Rs 75 lakh to Rs 1 crore has increased from 12 percent last year to 15 percent.
Houses worth Rs 1,10,880 crore sold
This report includes Delhi NCR, Ahmedabad, Bengaluru, Chennai, Hyderabad, Kolkata, Mumbai Metropolitan Region (MMR) and Pune. Delhi NCR includes Ghaziabad, Noida, Greater Noida, Gurugram and Faridabad. On the other hand, sales figures of Thane and Navi Mumbai have been included in MMR. The total value of houses sold during January to March was Rs 1,10,880 crore.
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