HomeNewsHome sales grows by 16% in 2019: Anarock

Home sales grows by 16% in 2019: Anarock

According to Anarock Property Consultants, despite depressed consumption sentiment, the top seven cities in the country saw homes worth Rs 1.54 lakh crore sold in first three quarters of 2019, rising yearly by 16 per cent. During the same period last year properties worth Rs 1.33 lakh crore were sold. In volume terms, nearly 2.02 lakh units were sold across the top seven cities between January to September this year compared to 1.78 lakh units were sold in the year-ago period.

Mumbai Metropolitan Region (MMR) is still a hot favourite for the property sales. While MMR topped the list with housing sales worth Rs 62,970 crore, Bengaluru came the distant second with property sales worth Rs 28,160 crore. While the MMR saw a yearly gain of 33 per cent in the overall housing sales value over Rs 47,240 crore in 2018, Bengaluru saw a dip of 7 per cent. Last year, the IT capital saw total housing sales worth Rs 30,310 crore during the same period.

Pune saw a 32 per cent jump in the overall housing sales values during the year — from Rs 13,275 crore during January to September in 2018 to Rs 17,530 crore in 2019. As many as 31,380 homes were sold in Pune during 2019. Housing sales in the National Capital Region (NCR) was valued at Rs 24,860 crore in 2019 against Rs 21,600 crore in the three quarters of 2018, marking an annual increase of 15 per cent. This performance in NCR comes on the back of series of defaults by many builders to complete the projects on time.

Hyderabad and Chennai saw homes worth Rs 9,400 crore and Rs 5,580 crore respectively in 2019. In a year, Hyderabad housing sales declined by 2 per cent while in Chennai it rose by 13 per cent. Among the top 7 cities, Chennai saw the least overall sales value in 2019, marginally below Kolkata where homes worth Rs 5,850 crore were sold.

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