Most of the houses worth Rs 1 crore are sold in Delhi-NCR. During January to March in the year 2024, 10,558 units worth Rs 1 crore have been sold in Delhi NCR.
The demand for houses in the country is increasing every year, due to which there has been a record increase in the housing market of India in the first quarter of the year 2024 i.e. from January to March this year. The number of home buyers has increased especially in metro cities Mumbai, Delhi NCR, Bengaluru, Pune, Hyderabad, Ahmedabad, Chennai and Kolkata. During the calendar year, 86,345 units were sold with a growth of 9 percent year on year.
According to the report of global property consultancy firm Knight Frank, the demand for sale of houses in the ₹ 1 crore segment has increased significantly. There has been a 40 percent increase among home buyers in this segment between January and March compared to last year. Most of the houses worth Rs 1 crore are sold in Delhi-NCR. During January to March in the year 2024, 10,558 units worth Rs 1 crore have been sold in Delhi NCR.
This many houses worth Rs 1 crore were sold in Mumbai
6,075 houses priced at Rs 1 crore or more have been sold in Mumbai. Bengaluru is at second place, where 7,401 houses have been sold in the Rs 1 crore segment during January to March 2024. Interestingly, the share in sales of homes below ₹50 lakh declined by 10% year-on-year with only 23,026 units sold. It has been said in the report that people have made a strong purchase in a house worth Rs 1 crore.
Where were most houses completed?
According to the report, the continuous increase in demand has led to the rapid pace of residential development. A total of 93,254 new residential units have been built between January-March 2024, registering a year-on-year increase of 7%. Among the eight cities, Kolkata saw an 89% rise in newly completed housing units to 6,021 in Q1 2024, compared to 3,178 in Q1 2023.
How much price in which city?
Along with the sale of houses, there has also been a record increase in their prices. There has been a jump of 13 percent year on year in eight metro cities. There has been a record increase in the prices of houses, especially in the premium segment. Mumbai still remains at number one in terms of the most expensive house, where the price per square foot is Rs 7,891. Similarly, the price is ₹ 6145/square feet in Bengaluru, ₹ 5,655/square feet in Hyderabad and ₹ 4787/square feet in NCR.
