The Indian real estate market continues to exhibit resilience, with housing sales witnessing a robust 17% year-on-year growth during the January to September period of 2024. A total of 2.29 lakh units were sold during this period, indicating a sustained demand for residential properties across the country.
Several factors have contributed to this positive trend. The government’s initiatives to boost affordable housing and the reduction in interest rates have made homeownership more accessible to a wider segment of the population. Additionally, the growing economy and increasing urbanization have fueled the demand for housing, particularly in major cities.
While the overall market is on a positive trajectory, there are regional variations in sales performance. Mumbai and Delhi-NCR, traditionally strong markets, have seen steady growth, while other cities like Bengaluru and Pune have witnessed a surge in demand due to factors such as IT sector expansion and infrastructure development.
The outlook for the Indian real estate market remains optimistic for the remainder of the year. With sustained economic growth and favorable government policies, the demand for housing is expected to remain strong. However, challenges such as rising construction costs and regulatory hurdles could impact the market’s momentum.
Overall, the 17% year-on-year growth in housing sales during the January to September period is a testament to the resilience of the Indian real estate market. As the country continues to develop and urbanize, the demand for housing is likely to remain robust, driving further growth in the sector.
