Booming Sales: India's Housing Market on the Rise

India's seven key housing markets, including Delhi-NCR and Mumbai, are projected to achieve sales of 305,000 apartments valued at Rs 5.10 lakh crore in 2024, says JLL India. The festive season is anticipated to boost demand further, with the potential to surpass previous sales records.

India's primary housing markets are witnessing a significant upward trend, with an estimated 305,000 apartment sales valued at Rs 5.10 lakh crore forecast for the current year, according to JLL India.

The seven cities driving this growth include Delhi-NCR, Mumbai, Kolkata, Chennai, Bengaluru, Pune, and Hyderabad. By the end of 2024, JLL India expects sales of 300,000 homes across 485 million sq ft, reaching a value of Rs 510,000 crore.

The housing market has reached a nine-month peak in 2024 with nearly 230,000 units sold by September. With the festive quarter ahead, the demand is set to remain robust, potentially matching or exceeding recent quarterly averages, leading to record annual sales.

(With inputs from agencies.)