The yearly report for India's real estate in nine main cities has been released by PropEquity, a real estate data analysis company. According to their data, fewer homes were sold than in FY 2023. According to statistics, sales in nine main cities fell by 9% in FY 2024. The number of units sold in 2024 decreased to 4,70,899 from 5,14,829 in 2023. Only 61,722 apartments were sold in hyderabad in 2024, compared to 82,350 units in 2023. This represents a 25% drop in sales.
 
Out of the nine cities, sales in Delhi-NCR increased by 5% in 2024, while sales in Navi mumbai increased by 16%. In FY 2024, sales in Bengaluru fell by 9%, chennai by 11%, and kolkata by 1%. The main causes of the downturn were allegedly a loss in demand and a decrease in the supply of new units.

There were 4,11,022 units available in all nine main cities, a 15% decrease in the number of new units available. According to the research, the fall was caused by the country's general elections and two quarters of intense rains. According to PropEquity CEO Samir Jasuja, the decline was noticeable in 2024 because 2023 witnessed high sales.
 
 
 

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G GOWTHAM

28/01/2025 10:54 AM