propnewstime.com-Housing sales in India's top markets expected to reach record levels by the end of 2024
India's primary housing markets, spanning seven key cities which include cities like Delhi-NCR, Mumbai, Kolkata, Chennai, Bengaluru, Pune, and Hyderabad are expected to see significant activity in 2024, with JLL India projecting that approximately 305,000 apartments will be sold by the end of the year. The total value of these sales is anticipated to reach INR 5.10 lakh crore, covering a total area of around 485 million square feet. This marks a notable performance across these major markets, which are critical to India's real estate sector.
According to JLL India's statement earlier this week, housing sales have displayed notable resilience, with the first three quarters of 2024 setting new records. By the end of September 2024, approximately 230,000 homes, worth INR 380,000 crore, were sold across the top seven cities. This growth highlights a strong market demand despite challenges faced by the sector, such as inflationary pressures, rising interest rates, and potential geopolitical instability. However, the real estate market has proved its strength, driven by factors like growing urbanisation, steady job creation, and an increasing need for modern housing solutions.
