The positive trend in home sales continues in the country. A latest report says that house sales in eight big cities of the country have increased by 9 percent on an annual basis in the January-March quarter. It is also mentioned that the demand for office space in the country is also strong. It has seen an increase of 43 percent on annual basis. Property consultant Knight Frank India has given this information in a report released on Thursday. According to Bhasha news, in this report released under the name ‘India Real Estate: Office and Residential Report (January-March 2024)’, it has been said that office rents have increased by one to nine percent.
Prices rose between 2% and 13% year-on-year
According to the news, Knight Frank India says that residential prices in Delhi-National Capital Region (NCR), Mumbai, Chennai, Kolkata, Hyderabad, Bengaluru, Pune and Ahmedabad in January-March are in the range of two to 13 percent on an annual basis. Grew up. According to the latest data, residential sales in eight major cities increased to 86,345 units in January-March from 79,126 units a year ago. Gross lease of office space increased by 43 per cent to 1.62 crore sq ft in January-March this year, from 1.13 crore sq ft in the same period last year.
Strong performance in both office and residential sectors
Shishir Baijal, Chairman and Managing Director, Knight Frank India, said on the report that the real estate market experienced another extraordinary period including strong performance in both office and residential sectors. He said the residential segment saw a particularly significant surge. This was due to a steady increase in sales in the price category of Rs 1 crore and above. A few days ago, real estate consultant Anarock also said in one of its reports that home sales or residential sales in seven big cities have increased by 14 percent during January-March 2024. I
It was reported that residential sales in seven big cities increased by 14 percent to 1,30,170 units in the January-March quarter this year, as against 1,13,775 units in the same period a year ago. Some reports say that residential demand is high, especially for premium and ultra-luxury homes. It is expected to become stronger in the year 2024.
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