Luxury Home Sales Surges In Delhi-NCR: Anarock
At least 3.49 lakh units sold in the top seven cities in the first nine months of 2023, about 24 per cent or 84,400 units were luxury homes priced >INR 1.5 crore.
About 84,400 luxury units, priced >INR 1.5 crore were sold in the top seven cities between January-September this year, against approx. 39,300 in same period in 2022, showed a recent Anarock Research data.
In the same period of 2022, just 14 per cent (approx. 39,300 units) of approx. 2.73 lakh units sold in same period of 2022 were in the luxury category. This denotes a steep 115 per cent annual rise in the number of luxury units sold between January to September 2023 against the corresponding period in 2022.
Anuj Puri, Chairman - ANAROCK Group, says, "MMR, NCR and Hyderabad out-performed the other cities in luxury housing sales in 9M 2023, with these three cities together accounting for approx. 63,390 units sold. In the same period in 2022, just 30,820 luxury homes - less than half of the current year's 9-month tally - were sold in these three cities. Interestingly, none of the top 7 cities saw any deceleration in luxury housing sales. In fact, they all went into overdrive."
As per the report, Hyderabad saw luxury housing sales increase by a whopping 260 per cent in this period with approx. 13,630 units sold in nine months 2023, from approx. 3,790 units sold in 9M 2022. Approx. 44,220 homes across all budget categories were sold in the city in 9M 2023, with the luxury share at 31 per cent.
NCR saw luxury housing sales rise by 119 per cent in this period - from approx. 6,210 units in 9M 2022 to approx. 13,630 units in 9M 2023. Approx. 49,480 units were sold in the region across all budget categories in 9M 2023, of which luxury accounted for 28 per cent.
Pune saw luxury housing sales increase by 191 per cent annually - from approx. 2,350 units in 9M 2022 to approx. 6,850 units in 9M 2023. Approx. 63,480 units were sold in the city across all budget categories in 9M 2023, of which the share of luxury stood at just 11 per cent.
Bengaluru saw a 142 per cent annual jump in luxury units sold – from approx. 3,810 units sold in 9M 2022 to approx. 9,220 units sold in 9M 2023. The city saw approx. 47,100 units sold across all budget categories in 9M 2023, of which the share of luxury stood at 20 per cent.
Chennai saw luxury housing sales rise by 143 per cent in this period - from approx. 1,370 units in 9M 2022 to approx. 3,330 units in 9M 2023. Of approx. 16,310 units sold in the city across all budget categories in 9M 2023, luxury accounted for a 20 per cent share.
Kolkata saw luxury housing sales increase by 69 per cent annually - from approx. 950 units sold in 9M 2022 to approx. 1,610 units in 9M 2023. Of approx. 17,280 units sold in the city across all budget categories in 9M 2023, luxury accounted for just 9 per cent.
