Apartment Sales Boom in India: 3.05 Lakh Units Worth Rs 5.10 Lakh Cr in 2024

New Delhi, Dec 4 (PTI) India's seven major primary housing markets are estimated to see sales of 3.05 lakh apartments worth Rs 5.10 lakh crore during the current calendar year, according to JLL India.

These seven cities are Delhi-NCR, Mumbai, Kolkata, Chennai, Bengaluru, Pune and Hyderabad.

"At the end of 2024, over 300,000 homes worth Rs 510,000 crore of homes across 485 million sq ft are expected to be sold," real estate consultant JLL India said in a statement on Wednesday.

Housing sales have remained healthy and hit a new nine-month (January-September) peak in 2024 with close to 230,000 homes sold across the top seven cities worth Rs 380,000 crore sold during this period, it added.

With the festive season coinciding with the fourth quarter and housing demand expected to remain strong, JLL India said it expects sales for the Oct-Dec 2024 quarter to potentially match or exceed the trailing three-quarter average of over 75,000 units, taking the full-year sales to about 305,000 units.

"With this, the sales realization value is expected to touch around Rs 510,000 crore for 485 million sq ft of area likely to be sold for full year 2024," the consultant said.