Hyderabad, known as the city of nawabs, secures the third spot with an impressive 43% growth in total housing sales value during the first nine months of this year compared to the same period last year. ANAROCK Research reveals that residential units’ total sales value in Hyderabad surged from Rs 25,001 crore in January-September 2022 to Rs 35,802 crore in the corresponding period of 2023, indicating a substantial 43% increase.
Pune takes the lead with the highest annual surge in total sales values, boasting a remarkable 96% growth, followed by Chennai and Hyderabad, both recording a commendable 45% increase. ANAROCK Group Chairman, Anuj Puri, attributes this surge to heightened demand for premium luxury homes in 2023. He notes the challenge of making an accurate year-on-year comparison due to varying average prices, which escalated by 8 to 18% in top cities this year.
The report indicates that between January and September 2023, a total of approximately 3.49 lakh units were sold in major cities, including Mumbai, Delhi, Bengaluru, Hyderabad, Pune, Chennai, and Kolkata—slightly lower than the 3.65 lakh units sold in 2022. Despite this, the total sales value exhibited an impressive 44% jump, surpassing Rs 4.5 lakh crore in 2023 compared to Rs 3.27 lakh crore in 2022.
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Delving into quarterly analyses for 2023, each quarter displayed consistent growth, surpassing the Rs 1 lakh crore mark in overall sales value. Q1 saw homes worth Rs 1,12,976 crore sold in the top seven cities, with a 1% increase in Q2 and a further 8% jump in Q3. An optimistic Anuj Puri predicts robust sales in the ongoing festive quarter, anticipating the overall housing sales value to exceed Rs 4.5 lakh crore by the end of 2023.
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