Bhopal Housing Sales Surge 10% in 2024: PropEquity

New Delhi, Feb 22 (PTI) Housing sales in Bhopal, the capital of Madhya Pradesh, has risen 10 per cent to 3,565 units during the last year while the growth was 38 per cent in value terms to Rs 2,344 crore, according to PropEquity.

Real estate data analytic firm PropEquity data showed that sales in Bhopal's primary residential market stood at 3,565 units in 2024 as compared to 3,238 units in the preceding year.

In terms of value, the housing sales in Bhopal rose to Rs 2,344 crore last year from Rs 1,703 crore in 2023.

Further, PropEquity attributed the higher growth in sales value to rising input cost due to an increase in prices of land, labour and construction materials.

Moreover, the developers are launching more premium and luxury housing projects, leading to higher sales value.

PropEquity has recently released the data for 15 major tier-II cities where total housing sales rose 4 per cent to 1,78,771 units in 2024 from 1,71,903 units in the preceding year. In value terms, the sales increased by 20 per cent to Rs 1,52,552 crore in 2024 from Rs 1,27,505 crore during 2023.