Housing Registrations Rise 4% in 8 Major Cities in 2024

New Delhi, Dec 31 (PTI) Registration of residential properties in eight cities, including Pune, Mumbai Metropolitan Region, Bengaluru, Hyderabad, and Noida, rose 4 per cent this year to 5.77 lakh units, according to Square Yards.

An impressive 5.77 lakh residential transactions were registered in 2024 across primary and secondary markets, 4 per cent higher as compared to 2023, across Thane, Mumbai, Navi Mumbai, Bengaluru, Hyderabad, Noida, Greater Noida, and Ghaziabad, real estate consultant Square Yards said in a statement.

Citing the government's registration data, the consultant said the total value of these transactions exceeded Rs 4 lakh crore, marking a 2 per cent year-on-year (YoY) growth over 2023.

"The Indian residential real estate market has entered a promising upcycle post-pandemic, bolstered by pent-up demand and a stronger sentiment for homeownership. Over the past two to three years, the sector experienced exceptional growth, which has naturally moderated in 2024," Tanuj Shori, Founder and CEO of Square Yards, said.