Housing Sale Units: Housing sale increased by 24% during July-Sep : Report

Total sales stand at 1,08,817 units in the third quarter of 2022 compared to 87,747 units in the same quarter of 2021. Sales in the third quarter of 2022 increase 1% compared to the previous quarter (April-June period) of the current calendar year when 1,07,358 units were sold, according to a report by property consultant PropEquity.

“There is a good appetite among the citizens of the main cities to buy quality houses and, therefore, there is significant dynamism in the real estate market. There has been activity in the real estate market, which is good news for developers. The buoyancy is building from quarter to quarter in the current year,” said Samir Jasuja, Founder and CEO of PropEquity.

New residential property listings were up 11% in the third quarter of the current calendar year in major cities across the country compared to the corresponding period in 2021.

New launches stand at 83,241 units in the third quarter of 2022 compared to 75,061 units in the same quarter of 2021. Sales in the third quarter of 2022, however, are down 15% from the immediately preceding quarter of the current calendar year in which 97,745 units were launched, according to the report.

“Metropolitan cities like Mumbai and Pune continue to top the charts. We are experiencing a continuous increase in consumer confidence towards real estate investments. The third quarter had seen a significant improvement in housing demand and this would also kick off the next quarter. Despite the slight increase in general interest rates, the demand for housing has not decreased,” said Shiwang Suraj, founder and director of Inframantra, a real estate consulting firm.

The major cities or Tier 1 cities included in this report are Bengaluru, Chennai, Hyderabad, Kolkata, Thane, Mumbai, Navi Mumbai, Pune, and Delhi-NCR (New Delhi, Gurugram, Faridabad, Noida, Greater Noida, Ghaziabad).

“During the month of Diwali, we have sold inventory worth Rs 250 crore, which is much more than our monthly sale of around Rs 150 crore. We don’t have much inventory left as sales have been strong for the past few months,” Migsun CEO Yash Miglani said.

The top three cities in terms of sales were Thane, Pune and Bengaluru. Thane posted sales of 21,910 units in the third quarter of 2022, a jump of 32% from the same period in 2021, but down 4% from the immediately preceding quarter.

Pune witnessed sales of 20,807 units in the third quarter of 2022, a jump of 9% from the same period in 2021, but down 1% from the immediately previous quarter. Bengaluru saw sales of 15,297 units in the third quarter of 2022, a 41% jump from the same time in 2021 and a 5% increase from the immediately preceding quarter.

The top three cities in terms of new releases were Hyderabad, Thane and Pune. Hyderabad saw new launches of 16,931 units in the third quarter of 2022, a jump of 30% from the same period in 2021 and an increase of 7% from the immediately previous quarter.

Total unsold stock in major cities at the end of Q3 2022 was down 12% compared to the same period in 2021. Total unsold stock at the end of Q3 2022 stood at 4,77,570 units as compared to 5,40849 units in the same period of 2021. Delhi-NCR, Bengaluru and Pune saw the largest decrease in unsold inventory.

Delhi-NCR had an unsold inventory of 37,494 units at the end of the third quarter of 2022, down 32% from the 55,156 units at the end of the corresponding period of 2021. Bengaluru had an unsold inventory of 54,612 units at the end of the Q3 2022. 2022, down 25% from 72,476 units at the end of the same period in 2021. Pune had unsold inventory of 70,475 units at the end of Q3 2022, down 22% from 90,419 units at the end of the corresponding period of 2021.

Delhi-NCR, Kolkata and Chennai saw the highest increase in weighted average house price (in Rs per square foot) in Q3 2022 over the same period in 2021. Average house price in Delhi NCR stood at at Rs 9,996 per square foot. square feet in the third quarter of 2022, a 30% jump from the same period in 2021.

Average residential property price in Kolkata stood at Rs 5,954 per square foot in Q3 2022, an increase of 21% from the same period in 2021. Average house price in Chennai stood at Rs 6,956 per square foot in the third quarter of 2022. third quarter of 2022, a 16% jump from the corresponding period of 2021.

Leave a Comment