Housing sales drop 9% across 9 major cities to 4.71 lakh units in 2024: PropEquity

Housing income crossed 9 large cities dropped 9 per cent to astir 4.71 lakh units successful 2024 connected little request arsenic good arsenic autumn successful caller supply, according to PropEquity.

Data analytics steadfast PropEquity, portion of listed entity P E Analytics, connected Wednesday released the lodging information for 9 large cities namely Bengaluru, Chennai, Hyderabad, Kolkata, Delhi-NCR, Mumbai, Navi Mumbai, Pune and Thane.

As per the data, the income of residential properties declined 9 per cent to 4,70,899 units during 2024 from 5,14,820 units successful the preceding year.

New proviso fell 15 per cent to 4,11,022 units successful 2024 connected the backmost of 2 quarters of under-activity owed to wide elections and monsoon.

Samir Jasuja, CEO & Founder, PropEquity said, "The driblet successful lodging proviso and income successful 2024 is owed to the precocious basal effect, arsenic 2023 was a highest year."

"A elaborate investigation of the numbers reveals that contempt the drop, the proviso to absorption ratio successful 2024 remains the aforesaid arsenic 2023 which indicates that the fundamentals of the existent property assemblage are beardown and healthy," Jasuja explained.

As per the data, the lodging income successful Bengaluru fell 9 per cent to 60,506 units successful 2024 from 66,600 units successful the preceding year.

Chennai saw an 11 per cent diminution successful income to 19,212 units from 21,515 units. In Hyderabad, income dropped 25 per cent to 61,722 units from 82,350 units.

Housing income successful Kolkata fell 1 per cent to 18,595 units from 18,697 units. Mumbai witnessed a 6 per cent diminution successful income to 50,140 units from 53,208 units.

In Navi Mumbai, however, lodging income roseate 16 per cent to 33,870 units from 29,085 units.

Pune saw a diminution of 13 per cent to 92,643 units from 1,06,351 units, portion Thane witnessed a autumn of 5 per cent to 90,288 units from 95,336 units.

However, lodging income successful Delhi-NCR past twelvemonth accrued 5 per cent to 43,923 units from 41,678 units successful 2023.

P E Analytics Ltd, an NSE-listed company, owns and operates PropEquity, an online existent property information and analytics level covering 1,70,000+ projects of 57,000 developers crossed 44 cities successful India.