Mumbai: The real estate market in the top seven cities is on an upward trajectory, with the average price of homes reaching a substantial Rs 1.23 crore in the first six months of this fiscal, compared to Rs 1 crore in the corresponding period of FY24. This significant 23 percent (year-on-year) jump, as reported on Wednesday, is a testament to the positive growth in the sector.
According to Anarock Group data, the demand for luxury homes has surged, leading to record new launches and sales of costlier homes across these cities. This trend, which emerged after the pandemic, underscores the potential of the real estate market.
“Over 2,27,400 units worth approximately Rs 2,79,309 crore were sold across the top 7 cities between April and September 2024. Contrastingly, the corresponding period of FY2024 saw approx. 2,35,200 units worth Rs 2,35,800 crores sold,” said Anuj Puri, Chairman of Anarock Group.
Despite a three percent drop in overall unit sales, the total sales value has outstripped that of a year ago by 18 percent. This significant increase in the financial value of the market clearly underscores the unrelenting demand for luxury homes.
Among the top seven cities—at 56 percent—Delhi-NCR saw the highest average ticket size growth—from around Rs 93 lakh in H1 FY2024 to over Rs 1.45 crore in H1 FY2025.
About 32,315 units worth Rs 30,154 crores were sold in the region in the first half of FY2024, which refers to a specific time period. In comparison, around 32,120 units worth Rs 46,611 crores were sold in the first half of FY2025.
The value of sold inventory increased by 55 percent in this period, the total number of units sold declined by 1 percent.
At 44 percent, Bengaluru witnessed the second-highest jump in average ticket size among the top 7 cities—it rose from Rs 84 lakh in H1 FY2024 to Rs 1.21 crore in H1 FY2025. The report said the same number of units, 31,381, were sold in H1 FY 2025, but their total value was higher at Rs 37,863 crore.
In Hyderabad, the average ticket size of sold units was Rs 84 lakh in H1 FY 2024, which increased by 37 percent to Rs 1.15 crore in H1 FY 2025. In H1 FY 2025, about 27,820 units worth nearly Rs 31,993 crore were sold.
The Mumbai Metropolitan Region (MMR) saw no change in average ticket size in this period.
The average ticket size of sold units in H1 FY 2024 was Rs 1.47 crore. The region saw approximately 76,410 units worth Rs 1,12,356 crore sold in H1 FY 2024, while H1 FY 2025 saw about 77,735 units worth about Rs 1,14,529 crore sold, said the report.
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–IANS
