Housing Sales across 7 Key Cities set for Strong Finish, says JLL

Market expansion, significant economic impact, and consumer trust in urban real estate are highlighted by projected sales of 485 million square feet of residential space.

On the back of increase in demand, housing sales across the top seven cities- Delhi-NCR, Mumbai, Kolkata, Chennai, Bengaluru, Pune and Hyderabad are expected to touch Rs. 3.05 lakh. An analysis by JLL has shown that these homes are worth Rs. 5.10 lakh crore and spread across an area of Rs. 485 million square feet.

In 2024, close to Rs. 2.30 lakh homes across the top seven cities worth Rs. 3.8 lakh crore were sold during the peak month (January-September) This amounts to 363.2 million square feet of space that was sold between January and September 2024.

The festive season coincides with the fourth quarter, and housing supply is expected to remain robust, housing sales for the October-December 2024 quarter are expected to match or surpass the trailing three-quarter average of over 75,000 units, bringing the total year sales to over 3.05 lakh units. The sales realization value is expected to reach around Rs. 5.10 lakh crore for around 485 million square feet of area likely to be sold for the full year 2024.

In the first nine months of 2024, Delhi-NCR led in terms of sales value and area sold, which indicates a higher demand for larger and premium homes in the region.