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<keyword id="20069374" type="General" weightage="20" keywordseo="IT-services" source="keywords">IT services</keyword> firm <keyword id="19924892" type="General" weightage="20" keywordseo="Tech-Mahindra" source="keywords" meta.keywordsubtype="org" meta.entityname="Tech Mahindra" meta.hostid="261" meta.entityid="Tech Mahindra">Tech Mahindra</keyword> on Saturday reported a more than two-fold jump in its consolidated <keyword id="19942166" type="General" weightage="20" keywordseo="net-profit" source="keywords">net profit</keyword> to Rs 1,250 crore for the July-September quarter, driven by special income from the sale of assets. The Mahindra Group company posted a net profit of Rs 493.9 crore in the year-ago period, according to an exchange filing. Revenue rose by 3.49 per cent to Rs 13,313.2 crore in the second quarter of 2024-25 compared to Rs 12,863.9 crore in the same quarter of 2023-24. "Other income includes gain on sale of property of Rs 4,502 million which comprises of freehold land and its related buildings along with the furniture &amp; fixtures sold for a consideration of Rs 5,350 million, receivable over a period of four years along with interest of 8.2 per cent p.a," the company filing said. Sequentially, net profit rose by 46.81 per cent and revenue by 2.36 per cent. "We continue to progress on our strategic improvement efforts even as the overall IT services industry has remained soft. "We have focused on strengthening client relationships and expanding the partner ecosystem while maintaining a sharp focus on operational excellence through project Fortius, which has resulted in an expansion of margins for the third sequential quarter," Tech Mahindra CEO Mohit Joshi said. The CEO unveiled Project Fortius in April, a three-year plan to achieve a 15 per cent operating margin with a focus on organic growth. "This quarter we see consistent performance around increasing deal wins, <keyword id="19965932" type="General" weightage="20" keywordseo="revenue-growth" source="keywords">revenue growth</keyword>, cost optimisation and steady free cash flow generation as we continue our journey towards FY27 stated targets. In line with our capital allocation policy the board has declared an interim dividend of Rs 15 per share," Tech Mahindra CFO Rohit Anand said. The company's TCV (<keyword id="23580531" type="General" weightage="20" keywordseo="Total-Contract-Value" source="keywords">Total Contract Value</keyword>), or net new deal wins, stood at USD 603 million in the second quarter of FY25. Joshi further said the company is on the right path for a long-term sustainable transformation, with its leading indicators moving in the right direction, and its 'Scale at Speed' narrative resonating in the market. "We have invested in strengthening the capabilities in the focus service lines by broadening the leadership and investing in technical specializations. "We continue to invest in strengthening our fresher hiring program, building the right mindset and future skilling and associates, by building capabilities in AI-first and cloud-first skill sets," he told reporters. Investments shall continue in creating and sustaining an outcome-driven learning organisation and cultivating a high-performance culture based on the pillars of simplifying, clarifying, innovating and driving a high-performance orientation, he added. This year could be volatile because we are in the turnaround phase, Joshi said. "I am confident, however, that the platform is being set for a long-term, valuable franchise thanks to a high-calibre and united leadership team and a clearly articulated strategic plan," Joshi said. The Pune-headquartered firm added 6,653 employees during the quarter under review, bringing the total staff count to 1,54,273. Shares of Tech Mahindra settled at Rs 1,688 apiece on the BSE on Friday, down 0.68 per cent from the previous close. 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Tech Mahindra profit jumps over 2-times to ₹1,250 crore in Jul-Sep quarter

<ul><li>As many as 3.79 lakh housing units were sold in FY23, 6% higher than the previous year.</li><li>Mumbai Metropolitan Region (MMR) led with the largest share in both sales value and volume.</li><li>Luxury <keyword id="6354553" type="General" weightage="20" keywordseo="real-estate" source="Orion">real estate</keyword> has experienced a notable surge in demand, after the pandemic changed their housing preferences.</li></ul>The Indian real estate market seems to be growing in volumes and value as well. According to a new report by Anarock, FY23 created a new record of highest sales volume across the top seven cities. As many as 3.79 lakh units were sold in the period — 36% higher than the previous year. The value of all these units sold is worth ₹3.47 lakh crore — 48% more than in FY22. Interestingly, Pune recorded the highest growth in terms of sales value at 77%, followed by Hyderabad and Bengaluru. In Chennai, the value growth was at 24% for FY23. Mumbai Metropolitan Region (MMR) led with the largest share in both sales value and volume —- 30% of the total units sold during the fiscal were in MMR. The sold stock is valued at ₹1.67 lakh crore, accounting for 48% in sales value share. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td colspan="2" style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Sales value growth FY23 Vs FY22 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">City </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">% growth </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">MMR </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">46 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">NCR </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">42 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Bengaluru </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">49 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Pune </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">77 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Hyderabad </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">50 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Chennai </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">24 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Kolkata </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">38 </td></tr></tbody></table> <cmsannotation type="cmsannotation" annotationid="Luxury and tech in high demand" comment="subhead" text="Luxury and tech in high demand">Luxury and tech in high demand</cmsannotation> Luxury housing market also continued to boom. The increase in both sales volume and prices has led to remarkable growth in the value of the units sold. Additionally, there has been a notable surge in the sales of luxury housing — i.e units priced above ₹1.5 crore, in the top seven cities. “Luxury real estate has experienced a notable surge in demand following the pandemic as homebuyers have reconsidered their housing preferences. In addition to seeking larger spaces, there is now a higher demand for technologically advanced homes that offer convenience and a sense of pride in ownership,” the report said. Metropolitan regions like MMR, National Capital Region (NCR), and Bengaluru have been at the forefront of this trend, but Pune is emerging as another city to watch. Pune has not only witnessed the highest growth in terms of value but has also captured a 9% share of the luxury housing market, a significant increase from previous years. “The uptrend in luxury housing is the result of overall improved homeownership sentiment, improved earning potential, and the desire for homes that are future-proofed in terms of size, lifestyle quotient, and resale value growth,” says Anuj Puri, chairman of Anarock group. The last quarter of the fiscal saw a significant uptick in luxury housing demand. This was after the Union Budget 2023-24 revised capital gains tax and limits the benefit to ₹10 crore after the end of the preceding fiscal year. This led to a high sales of qualifying properties.

Pune housing market sees the highest surge in value of homes sold in FY23

<ul><li>New launches went down by 2% in Mumbai, and by 4% in Ahmedabad in Jan-Mar 2024.</li><li>At 93,254 units, new launches surpassed sales across the top 8 cities during the first quarter of 2024.</li><li>Pune and Kolkata were the only top cities to see robust growth in sales and new launches. </li></ul>The country is in the midst of a real estate upcycle, yet the pace of new project launches has slowed down in the top four cities. The number of launches went down by 2% in Mumbai and 4% in Ahmedabad in the January-March quarter of 2024. <keyword id="19916484" type="General" weightage="20" keywordseo="national-capital-region" source="keywords">National Capital Region</keyword> (NCR) and Hyderabad showed a marginal 3% and 1% respectively, as per data launched by <keyword id="19895044" type="General" weightage="20" keywordseo="knight-frank-india" source="keywords">Knight Frank India</keyword>. But, that’s only half the story. Bengaluru’s new launches picked up by 9%, and three cities showed double-digit growth. Kolkata’s new launches grew by a whopping 89%, Pune’s grew by 15% and Chennai's by 10%. Overall, new project launches grew by 7% across the top 8 cities of <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>. “New launches were recorded at 93,254 units, surpassing sales in this quarter. Depleted older inventory drove consumers to newly launched properties at attractive prices, lowering average inventory age to 15.9 quarters in Q1 2024 from 16.7 at the end of 2023” says <keyword id="19895043" type="General" weightage="20" keywordseo="knight-frank" source="keywords">Knight Frank</keyword> in its report. Growth in home sales and new launches in Jan-Mar 2024 <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">City </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sales (% change) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">New launches (% change) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mumbai </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">17% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">NCR </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bengaluru </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">9% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Pune </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">14% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hyderabad </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ahmedabad </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">11% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-4% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Chennai </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">8% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kolkata </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">12% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">89% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">9% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7% </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source: Knight Frank India NCR and Bengaluru sales growth is tepid The overall sales across these cities in Q4 grew 9%, and five of them exhibited double-digit growth. Yet, there are two outliers — NCR sales grew by a marginal 1%, and sales fell by 2% in Bengaluru. Pune and Kolkata are the only two cities that saw a robust double-digit growth in sales as well as new launches. High-value home sales are growing at a faster pace than others. Homes priced at ₹1 crore and above accounted for 40% of the same. A year ago, they accounted for 29% of sales. The sales of such units grew by 51%. Units priced between ₹50 lakh to ₹1 crore fell by 6% YoY in Q4. Those under ₹50 lakh fell by 10% YoY, continuing a nine-quarter deceleration trend. “The residential segment witnessed a significant surge, propelled by continued growth in sales in the higher price category of ₹1 crore and above. This not only demonstrates a strong demand trajectory but also reflects buyers' confidence in making long-term commitments,” says <keyword id="20404833" type="General" weightage="20" keywordseo="shishir-baijal" source="keywords">Shishir Baijal</keyword>, chairman &amp; managing director of Knight Frank India.

New property launches dip in major Indian cities, sales growth tepid in Delhi-NCR, Bengaluru

New Delhi, <keyword id="1390483" type="General" weightage="20" keywordseo="Housing-sales" source="Orion">Housing sales</keyword> rose 8 per cent annually during the April-June period to 80,250 units across eight major cities, mainly on increased demand in Mumbai and Pune, according to PropTiger. Sales stood at 74,320 units in the year-ago period across primary (fresh sales) residential markets of the top eight cities. The housing brokerage firm on Wednesday released its Real Insight Residential - April-June 2023 report, stating that housing sales rose in three cities Mumbai, Pune and Ahmedabad but declined in other five major cities -- Delhi-NCR, Bengaluru, Hyderabad, Chennai and Kolkata. "India's top eight residential markets continue on a growth path. The RBI's decision to pause the hike in the key lending rate helped in sustaining strong positive sentiments for buying residential properties," Vikas Wadhawan, group CFO of REA India, said. PropTiger, Housing.com and Makaan.com platforms are owned by REA India, which is part of Australian firm REA, and News Corp. "The driving factors behind the uptick in housing sales over the last two years are pent-up demand from the COVID-affected period, growing appetite for home ownership, revival in the economy post-pandemic, and the evolving need for more spacious homes," he said. As per the data, housing sales in Ahmedabad increased 17 per cent to 8,450 units during the April-June period to 7,240 units in the year-ago period. Bengaluru saw a 19 per cent decline in sales to 6,790 units from 8,350 units while Chennai witnessed a 5 per cent fall to 3,050 units from 3,210 units. Housing sales in Delhi NCR fell 28 per cent to 3,230 units from 4,510 units. Hyderabad too witnessed a 3 per cent drop in demand to 7,680 units from 7,910 units. Housing sales in Kolkata decreased 40 per cent to 1,940 units from 3,220 units. Mumbai Metropolitan Region (MMR) saw a 16 per cent increase in sales to 30,260 units during April-June period from 26,160 units in the year-ago period. In Pune, sales increased 37 per cent during April-June to 18,850 units from 13,720 units in the corresponding period of the previous year. Delhi-NCR market includes Gurugram, Noida, Greater Noida, Ghaziabad and Faridabad while MMR includes Mumbai, Navi Mumbai and Thane. REA India Head of Research Ankita Sood noted that MMR and Pune contributed 61 per cent to total housing sales across 8 cities. Demand in localities such as Thane West and Dombivali in Mumbai and Charholi Budruk and Hadapsar in Pune have been high, she said. In terms of new housing supply, PropTiger reported that launches increased 11 per cent to 1,13,770 units during the April-June from 1,02,140 units in the corresponding period of the previous year.

Housing property sales in Bengaluru, Delhi sees a decline but Mumbai, Pune maintain pace

<ul><li><keyword id="85530" type="General" weightage="20" keywordseo="new-projects" source="Orion">New projects</keyword> are selling out on launch day, highlighting the urgency among buyers to secure a property </li><li>The average rent increase has been higher than average salary increments across cities, prompting potential home buyers to take the plunge </li><li>Those who were initially considering homes in the 60-80 lakh range are now being priced out and are opting for more affordable options. </li></ul>India's major cities are experiencing a housing boom in 2024. <keyword id="6357824" type="General" weightage="20" keywordseo="sales" source="Orion">Sales</keyword> have gone up by 20% in the first quarter so far (January 1 to March 15) with nearly 147,000 units sold across Delhi, Mumbai, Bengaluru, Hyderabad, Chennai, and Pune, according to a report by NoBroker, a property search portal. According to the report, this positive trend is likely to have been led by a combination of factors. The Indian economy is on a strong growth trajectory, and the government's stable economic policies are boosting buyer confidence in the real estate market. People feel secure about investing in property, despite ongoing increases in property prices, according to the report. Growing aspiration to own than to rent A clear desire for homeownership is evident, possibly driven by the security and stability that owning a physical asset like a house provides. Additionally, relatively affordable home loan interest rates, currently ranging between 8.30% and 11.15% per annum, are further greasing the wheels of the housing market. Says Amit Agarwal, CEO &amp; Co-founder of NoBroker.com, "The average rent increase has been higher than average salary increments across cities which has prompted potential home buyers to take the plunge. While rents may stabilise with more supply coming in gradually, they will not come down.” According to NoBroker’s annual report 2023, 74% of participants indicated that they favoured real estate as an option over other investment choices like Systematic Investment Plans (SIPs), stocks, gold, and Bitcoin. This momentum in <keyword id="1390483" type="General" weightage="20" keywordseo="housing-sales" source="Orion">housing sales</keyword> has been continuing for a while. Even in December 2023, housing sales were up 31% year on year, revealed a report by property consultant ANAROCK. Diverging implications on the <keyword id="6358021" type="General" weightage="20" keywordseo="budget" source="Orion">budget</keyword> of <keyword id="185169" type="General" weightage="20" keywordseo="homebuyers" source="Orion">homebuyers</keyword> However, an interesting trend is emerging within the buyer pool. Average urban buyers, who were previously looking at properties priced between ₹80 lakh and ₹1 crore, are now setting their sights on more expensive options, exceeding the ₹1 crore mark. This shift in preference suggests a desire for larger living spaces and the security of gated communities. On the other hand, those who were initially considering homes in the 60-80 lakh range are now being priced out. Such buyers are opting for even more affordable options albeit at faraway places with lesser amenities. It is important to acknowledge the uneven impact on different income groups — while some buyers are capitalising on the positive market conditions, others are struggling to keep up with rising prices. New projects in high demand New projects are selling out on launch day, highlighting the urgency among buyers to secure a property. This surge in demand is driving up prices, especially for near-completion properties, as buyers rush to lock in purchases before prices climb further. Interestingly, the gap between established developers (Grade A) and newer companies (Grade B) is narrowing. Grade B builders are commanding prices closer to their Grade A counterparts, suggesting a more competitive market. However, the recent easing of inflation in India could improve affordability for buyers, making it easier to get loans and participate in the market. This easing inflation might offer some relief for those looking to enter the Indian housing market.

Housing markets remain strong in 2024, sales rise 20% across six metro cities in Q1

<ul><li>Delhi-NCR’s luxury unit sales saw the highest surge registering a 197% YoY increase.</li><li><keyword id="19897309" type="General" weightage="20" keywordseo="pune" source="keywords">Pune</keyword> came a close second as its luxury home sales surged by 144% in the December quarter.</li><li>Mumbai and <keyword id="19900176" type="General" weightage="20" keywordseo="hyderabad" source="keywords">Hyderabad</keyword> also saw a double digit growth in luxury home sales. </li></ul>Size does matter for Indian real estate buyers. Across India’s top seven cities, sales of luxury homes (that cost over ₹4 crore), went up by 75% YoY in the December quarter, says CBRE. But two cities stood out. Delhi-NCR’s luxury unit sales saw the highest surge registering a 197% YoY increase, while Pune too came close by with a sharp 144% rise. Hyderabad and Mumbai also saw a double digit increase by 64% and 23.5% respectively, as per data by CBRE. "A 75% surge in luxury unit sales and a substantial 45% rise in launches underscore the sector’s vibrancy. The evolving market dynamics, especially in key cities like Delhi-NCR, Mumbai, Pune, Hyderabad, and <keyword id="19940209" type="General" weightage="20" keywordseo="bangalore" source="keywords">Bangalore</keyword>, reflect a nuanced demand for high-end residences,” said Anshuman Magazine, Chairman &amp; CEO - India, South-East Asia, Middle East &amp; Africa, CBRE. Bangalore, Chennai and <keyword id="19896626" type="General" weightage="20" keywordseo="kolkata" source="keywords">Kolkata</keyword> saw a flat growth in luxury home sales in the quarter ending December. The percentage share of the luxury segment in the overall residential unit sales stood at 4% in 2023, nearly doubling its proportion of 2% in 2022. “This surge further signals the growing appetite of High Net Worth Individuals (HNIs) for luxury real estate investments, spurred by their aspirations for a refined lifestyle, the need for portfolio diversification, and the desire to preserve wealth over time. Luxury residential remains a cornerstone of their investment strategy, promising not just financial returns but also a legacy of prestige and prosperity for generations to come," says Reeza <keyword id="20584281" type="General" weightage="20" keywordseo="sebastian" source="keywords">Sebastian</keyword>, executive president - Residential, Embassy Group Mumbai, Pune rule home sales In the October to December quarter, overall 86,000 residential units were sold, and 90,000 units were launched. In Q3, new unit launches recorded around 22% YoY increase and about 26% growth on a quarterly basis. Premium and luxury segments accounted for about 10% and 4% shares, respectively, during this period. Pune recorded the highest residential sales overall during the quarter with a 24% share, followed by Mumbai with about 21% share. Delhi-NCR and Hyderabad accounted for about 17% and 15% of the market, respectively. Mumbai also took the lead with a 27.5% share in new launches, closely followed by Hyderabad with 26.9%, and Pune with 19%. For 2023, the overall residential sales across price categories exceeded 3.22 lakh units in 2023, registering a 9% YoY growth. Sustained momentum in demand also led developers to launch over 3.13 lakh new housing units in 2023, a 6% YoY increase. Mid-end projects emerged as the leading category driving sales, recording a 45% share in total sales for 2023, followed by high-end and affordable projects. Pune, Mumbai and Bangalore cumulatively accounted for 61% of the total sales. Unit launches in Mumbai, Pune, and Hyderabad, on the other hand, accounted for a 67% share during 2023.

Luxury homes in vogue and Delhi, Pune are in top gear

Residential property demand in India at a 10-year high with mid and premium buyers on the rise

<ul><li>In 2023, new <keyword id="6354516" type="General" weightage="20" keywordseo="property" source="Orion">property</keyword> launches across the top 7 cities witnessed a 25% annual surge.</li><li>MMR and Pune accounted for the majority of new launches, constituting nearly 54% of the total new launches. </li><li>Approximately 6 lakh units are available for sale across top 7 cities in India as of 2023-end. </li></ul>Indian homes across top 7 cities are expected to get pricier by as much 8-10% in 2024. The market might absorb these hikes, without an impact on demand, as per real estate consultancy Anarock. In 2023, <keyword id="6468581" type="General" weightage="20" keywordseo="housing-prices" source="Orion">housing prices</keyword> surged by 10-24% across the top 7 cities on an annual basis. This was primarily driven by heightened input expenses and robust demand. Despite the escalation in property prices and the increase in home loan interest rates earlier in 2023, the Indian residential real estate sector has experienced an exceptional year, according to the latest Anarock Research data. <keyword id="1390483" type="General" weightage="20" keywordseo="housing-sales" source="Orion">Housing sales</keyword> in top 7 cities reach an all time high in 2023 Housing sales in the top 7 cities have reached an all-time high in 2023, surpassing the previous peak recorded in 2022. Approximately 4,76,530 units were sold in 2023 across these cities, marking a significant 31% year-on-year increase from the 3,64,870 units sold in 2022. The last peak within the decade was observed in 2022 after 2014, with around 3.43 lakh units sold in the top 7 cities. MMR recorded the highest sales in 2023, with approximately 1,53,870 units sold, followed by Pune with around 86,680 units. These two western markets emerged as the primary drivers of residential sales in 2023. New property launches witness a surge Moreover, new property launches across the top 7 cities witnessed a 25% annual surge, rising from approximately 3,57,640 units in 2022 to about 4,45,770 units in 2023. Mumbai Metropolitan Region (MMR) and Pune accounted for the majority of new launches, constituting nearly 54% of the total new launches throughout the year. Says Anuj Puri, chairman Anarock Group, "2023 has been phenomenal for the Indian <keyword id="50054" type="General" weightage="20" keywordseo="housing-sector" source="Orion">housing sector</keyword>, despite global headwinds, rising domestic property prices, and interest rate hikes over the first half this year. Housing sales in the top 7 cities breached the previous high of 2022, and new launches stayed in step with the current housing demand.” According to Anarock research, 31% of total new supply was in mid-range (₹40-80 lakh) price bracket, 28% in ₹80 lakh -₹1.5 crore bracket and 23% in the ticket price of over ₹1.5 crore. The share for affordable housing was the lowest at 18%. New launches overview - City-wise <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td colspan="4" style="border-left:solid #000000 0.68181825pt;border-right:solid #000000 0.68181825pt;border-bottom:solid #000000 0.68181825pt;border-top:solid #000000 0.68181825pt;vertical-align:top;background-color:#a6c9ec;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">City-wise New Supply (In Units) </td></tr><tr><td style="border-left:solid #000000 0.68181825pt;border-right:solid #000000 0.68181825pt;border-bottom:solid #000000 0.68181825pt;border-top:solid #000000 0.68181825pt;vertical-align:top;background-color:#a6c9ec;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;"> Cities Name </td><td style="border-left:solid #000000 0.68181825pt;border-right:solid #000000 0.68181825pt;border-bottom:solid #000000 0.68181825pt;border-top:solid #000000 0.68181825pt;vertical-align:top;background-color:#a6c9ec;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">2023 </td><td style="border-left:solid #000000 0.68181825pt;border-right:solid #000000 0.68181825pt;border-bottom:solid #000000 0.68181825pt;border-top:solid #000000 0.68181825pt;vertical-align:top;background-color:#a6c9ec;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">2022 </td><td style="border-left:solid #000000 0.68181825pt;border-right:solid #000000 0.68181825pt;border-bottom:solid #000000 0.68181825pt;border-top:solid #000000 0.68181825pt;vertical-align:top;background-color:#a6c9ec;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">% Change (2022 Vs 2023) </td></tr><tr><td style="border-left:solid #000000 0.68181825pt;border-right:solid #000000 0.68181825pt;border-bottom:solid #000000 0.68181825pt;border-top:solid #000000 0.68181825pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">NCR </td><td style="border-left:solid #000000 0.68181825pt;border-right:solid #000000 0.68181825pt;border-bottom:solid #000000 0.68181825pt;border-top:solid #000000 0.68181825pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">36,735 </td><td style="border-left:solid #000000 0.68181825pt;border-right:solid #000000 0.68181825pt;border-bottom:solid #000000 0.68181825pt;border-top:solid #000000 0.68181825pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">25,360 </td><td style="border-left:solid #000000 0.68181825pt;border-right:solid #000000 0.68181825pt;border-bottom:solid #000000 0.68181825pt;border-top:solid #000000 0.68181825pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">45% </td></tr><tr><td style="border-left:solid #000000 0.68181825pt;border-right:solid #000000 0.68181825pt;border-bottom:solid #000000 0.68181825pt;border-top:solid #000000 0.68181825pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">MMR </td><td style="border-left:solid #000000 0.68181825pt;border-right:solid #000000 0.68181825pt;border-bottom:solid #000000 0.68181825pt;border-top:solid #000000 0.68181825pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">1,57,700 </td><td style="border-left:solid #000000 0.68181825pt;border-right:solid #000000 0.68181825pt;border-bottom:solid #000000 0.68181825pt;border-top:solid #000000 0.68181825pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">1,24,650 </td><td style="border-left:solid #000000 0.68181825pt;border-right:solid #000000 0.68181825pt;border-bottom:solid #000000 0.68181825pt;border-top:solid #000000 0.68181825pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">27% </td></tr><tr><td style="border-left:solid #000000 0.68181825pt;border-right:solid #000000 0.68181825pt;border-bottom:solid #000000 0.68181825pt;border-top:solid #000000 0.68181825pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bangalore </td><td style="border-left:solid #000000 0.68181825pt;border-right:solid #000000 0.68181825pt;border-bottom:solid #000000 0.68181825pt;border-top:solid #000000 0.68181825pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">54,435 </td><td style="border-left:solid #000000 0.68181825pt;border-right:solid #000000 0.68181825pt;border-bottom:solid #000000 0.68181825pt;border-top:solid #000000 0.68181825pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">49,195 </td><td style="border-left:solid #000000 0.68181825pt;border-right:solid #000000 0.68181825pt;border-bottom:solid #000000 0.68181825pt;border-top:solid #000000 0.68181825pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">11% </td></tr><tr><td style="border-left:solid #000000 0.68181825pt;border-right:solid #000000 0.68181825pt;border-bottom:solid #000000 0.68181825pt;border-top:solid #000000 0.68181825pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Pune </td><td style="border-left:solid #000000 0.68181825pt;border-right:solid #000000 0.68181825pt;border-bottom:solid #000000 0.68181825pt;border-top:solid #000000 0.68181825pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">83,625 </td><td style="border-left:solid #000000 0.68181825pt;border-right:solid #000000 0.68181825pt;border-bottom:solid #000000 0.68181825pt;border-top:solid #000000 0.68181825pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">64,340 </td><td style="border-left:solid #000000 0.68181825pt;border-right:solid #000000 0.68181825pt;border-bottom:solid #000000 0.68181825pt;border-top:solid #000000 0.68181825pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">30% </td></tr><tr><td style="border-left:solid #000000 0.68181825pt;border-right:solid #000000 0.68181825pt;border-bottom:solid #000000 0.68181825pt;border-top:solid #000000 0.68181825pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hyderabad </td><td style="border-left:solid #000000 0.68181825pt;border-right:solid #000000 0.68181825pt;border-bottom:solid #000000 0.68181825pt;border-top:solid #000000 0.68181825pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">76,345 </td><td style="border-left:solid #000000 0.68181825pt;border-right:solid #000000 0.68181825pt;border-bottom:solid #000000 0.68181825pt;border-top:solid #000000 0.68181825pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">68,010 </td><td style="border-left:solid #000000 0.68181825pt;border-right:solid #000000 0.68181825pt;border-bottom:solid #000000 0.68181825pt;border-top:solid #000000 0.68181825pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">12% </td></tr><tr><td style="border-left:solid #000000 0.68181825pt;border-right:solid #000000 0.68181825pt;border-bottom:solid #000000 0.68181825pt;border-top:solid #000000 0.68181825pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Chennai </td><td style="border-left:solid #000000 0.68181825pt;border-right:solid #000000 0.68181825pt;border-bottom:solid #000000 0.68181825pt;border-top:solid #000000 0.68181825pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">20,140 </td><td style="border-left:solid #000000 0.68181825pt;border-right:solid #000000 0.68181825pt;border-bottom:solid #000000 0.68181825pt;border-top:solid #000000 0.68181825pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">9,995 </td><td style="border-left:solid #000000 0.68181825pt;border-right:solid #000000 0.68181825pt;border-bottom:solid #000000 0.68181825pt;border-top:solid #000000 0.68181825pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">102% </td></tr><tr><td style="border-left:solid #000000 0.68181825pt;border-right:solid #000000 0.68181825pt;border-bottom:solid #000000 0.68181825pt;border-top:solid #000000 0.68181825pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kolkata </td><td style="border-left:solid #000000 0.68181825pt;border-right:solid #000000 0.68181825pt;border-bottom:solid #000000 0.68181825pt;border-top:solid #000000 0.68181825pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">16,790 </td><td style="border-left:solid #000000 0.68181825pt;border-right:solid #000000 0.68181825pt;border-bottom:solid #000000 0.68181825pt;border-top:solid #000000 0.68181825pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">16,090 </td><td style="border-left:solid #000000 0.68181825pt;border-right:solid #000000 0.68181825pt;border-bottom:solid #000000 0.68181825pt;border-top:solid #000000 0.68181825pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">4% </td></tr><tr><td style="border-left:solid #000000 0.68181825pt;border-right:solid #000000 0.68181825pt;border-bottom:solid #000000 0.68181825pt;border-top:solid #000000 0.68181825pt;vertical-align:top;background-color:#a6c9ec;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total </td><td style="border-left:solid #000000 0.68181825pt;border-right:solid #000000 0.68181825pt;border-bottom:solid #000000 0.68181825pt;border-top:solid #000000 0.68181825pt;vertical-align:top;background-color:#a6c9ec;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">4,45,770 </td><td style="border-left:solid #000000 0.68181825pt;border-right:solid #000000 0.68181825pt;border-bottom:solid #000000 0.68181825pt;border-top:solid #000000 0.68181825pt;vertical-align:top;background-color:#a6c9ec;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">3,57,640 </td><td style="border-left:solid #000000 0.68181825pt;border-right:solid #000000 0.68181825pt;border-bottom:solid #000000 0.68181825pt;border-top:solid #000000 0.68181825pt;vertical-align:top;background-color:#a6c9ec;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">25% </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> Source: ANAROCK Research Approximately 6 lakh units available for sale as of 2023-end Despite substantial new housing supply throughout the year, the total available inventory in the top 7 cities decreased by 5% by the end of 2023 compared to the previous year. Approximately 6 lakh units are currently available for sale across these cities in India. Demand for budget <keyword id="457183" type="General" weightage="20" keywordseo="luxury-housing" source="Orion">luxury housing</keyword> continues to rise Demand for luxury housing has surged significantly, as homebuyers seek larger and more comfortable living spaces in the aftermath of the pandemic. The addition of new luxury properties across the top 7 cities in 2023 skyrocketed fivefold compared to figures recorded in 2018. This substantial growth in luxury supply indicates a sustained interest in upscale housing options. Looking ahead to 2024, there are no indications of a slowdown in the demand for luxury housing.

Housing in top 7 cities to witness a 8-10% average price rise in 2024

<keyword id="6359783" type="General" weightage="20" keywordseo="bajaj-auto" source="Orion">Bajaj Auto</keyword> on Friday reported a 31 per cent growth in its total vehicle <keyword id="6357824" type="General" weightage="20" keywordseo="sales" source="Orion">sales</keyword> at 4,03,003 units in November over the corresponding month of last year. The Pune-based company had sold a total of 3,06,719 vehicles in November 2022, according to a statement. Total domestic sales (two-wheelers and <keyword id="6390018" type="General" weightage="20" keywordseo="commercial-vehicles" source="Orion">commercial vehicles</keyword>) in the previous month grew by a whopping 69 per cent to 2,57,744 units as against 1,52,883 69 units in November 2022. At the same time, <keyword id="35090" type="General" weightage="20" keywordseo="exports" source="Orion">exports</keyword> during the month under review declined 6 per cent to 1,45,259 from 1,53,836 vehicles shipped out to overseas markets in the same month of last year, as per the statement. Two-wheelers' domestic sales were at 2,18,597 units, registering a growth of 77 per cent over 1,23,657 units sold in November 2022, while exports fell 6 per cent year-on-year to 1,30,451 units in the previous month, it said. The total two-wheeler sales during November 2023 were recorded at 3,49,048 units, growing 33 per cent over the same month last year. The total commercial vehicles sales were 53,955 units in November 2023, as per the statement.

Bajaj Auto sales grow 31 per cent in November

<ul><li><keyword id="6361772" type="General" weightage="50" keywordseo="mumbai-metropolitan-region" source="Orion">Mumbai metropolitan region</keyword> recorded the highest sales of 26,400 units, followed by <keyword id="53426" type="General" weightage="80" keywordseo="ncr" source="Orion">NCR</keyword> at t14,970 units. </li><li>Mumbai, <keyword id="6354552" type="General" weightage="80" keywordseo="hyderabad" source="Orion">Hyderabad</keyword>, <keyword id="2094" type="General" weightage="80" keywordseo="pune" source="Orion">Pune</keyword> and Bengaluru accounted for highest new property additions. </li><li>Based on price range, the survey estimated that 36% of total new supply was in the mid-segment (₹40-80 lakh). </li></ul>Real estate sales across India’s top seven markets have recorded a quarterly growth of 4% during September quarter, boosted by an improvement in homeownership sentiment post pandemic, according to real estate services firm <keyword id="4695749" type="General" weightage="80" keywordseo="anarock" source="Orion">Anarock</keyword>. On a year-on-year basis, this growth surged 41%. Overall, 88,230 units were sold in the quarter against 84,930 units in the preceding quarter and 62,800 units in Q3 2021. “The appetite for homeownership has remained undeterred, with maximum sales being driven by end users. There has been increased new supply by the leading and listed developers, who also reported robust housing sales. This trend will very likely continue in the upcoming festive quarter as well since homeownership sentiment has increased hugely post the pandemic,” <keyword id="6420759" type="General" weightage="50" keywordseo="anuj-puri" source="Orion">Anuj Puri</keyword>, chairman, <keyword id="6596330" type="General" weightage="50" keywordseo="anarock-group" source="Orion">Anarock Group</keyword>, said. Mumbai Metropolitan Region (<keyword id="6381620" type="General" weightage="80" keywordseo="mmr" source="Orion">MMR</keyword>) sold the most units – at 26,400 – among the top seven cities, registering a year-on-year growth of 26%. While Delhi sold fewer units at 14,970 as compared to MMR, in percentage terms its sales went up 46% annually. Pune registered a quarterly sales growth at 3% and annually, its growth stood at 45%. NCR, MMR, Bengaluru, Pune, and Hyderabad together accounted for 90% of the sales for the quarter. The sales in Chennai and Kolkata made up 10% of the total sales. Residential property prices across these top seven cities registered a quarterly increase in the range of 1-2% in Q3 2022. On an annual basis, prices have risen in the range of 4-7% primarily due to an increase in input costs and demand comeback post Covid, Anarock said. Mumbai, Hyderabad top new unit additions MMR is also on the top when it comes to new properties. The region added 36,000 new units in the quarter and overtook Hyderabad – the city which ranks second in terms of new additions – by a large margin. Hyderabad added 15,530 units during the quarter, while in NCR, it was much lower at 6,400 units. MMR, Hyderabad, Pune and Bengaluru together accounted for 86% of the total new property additions, says Anarock. As many as 93,500 new units were launched across the top seven cities, against 82,100 units in the preceding quarter — registering a 14% growth. On a yearly basis, there was a 45% jump of new real estate property launched. In Q3 2021, 64,560 units were launched in the top seven cities across the country. Analysing based on price segments, the survey estimated that 36% of total new supply was in the mid-segment (₹40-80 lakh), 28% in the premium segment (₹80 lakh-₹1.5 cr); 18% each in the luxury and affordable segments. The impact of <a href="https://www.businessinsider.in/business/news/here-is-how-much-your-emi-will-go-up-after-the-recent-repo-rate-hike/articleshow/94552904.cms">increasing</a> interest rates on home loans, however, is yet to be seen. “However, if inflation remains at elevated levels forcing RBI to aggressively increase interest rates, there might be some turbulence in the market,” Puri said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/indian-corporate-credit-quality-remains-strong-in-h1-of-fy23-crisil/articleshow/94613479.cms">Indian corporate credit quality remains strong in H1 of FY23: CRISIL</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/jiobook-a-4g-enabled-budget-laptop-is-expected-to-launch-soon-at-15000/articleshow/94613338.cms">JioBook, a 4G-enabled budget laptop is expected to launch soon at ₹15,000</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/durga-puja-in-wb-is-a-grand-economic-activity-estimated-to-generate-40000-crore-transactions-3-lakh-jobs/articleshow/94613128.cms">Durga Puja in WB is a grand economic activity - estimated to generate ₹40,000 crore transactions, 3 lakh jobs</a>

Mumbai tops real estate sales and new launches in September quarter

Bengaluru, Driven by a surge in travel, there has been a 50 per cent surge in hiring for tourism and hospitality jobs between December 2022 and 2023 in <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>, according to a report on Wednesday. The report by Indeed, a global hiring and matching platform, also revealed that blue-collar hiring in the tourism and hospitality industry witnessed an overall 8 per cent increase. The rise not only signals a noteworthy post-pandemic recovery but also reflects a promising future for the industry while underscoring the job market's adaptability and resilience in the face of evolving global trends. The <keyword id="20223693" type="General" weightage="20" keywordseo="world-travel-and-tourism-council" source="keywords">World Travel and Tourism Council</keyword> (WTTC)'s Economic Impact Research predicted India to become the third most influential market in the Travel and Tourism industry globally. As per Indeed's data, hiring in the tourism industry peaked in October 2023 with a 61 per cent rise as compared to December 2022. This can be attributed to multiple reasons such as October being a popular time for tourism owing to weather changes propagating hill station visits, festive season and more. Top cities leading the upsurge in hiring include <keyword id="19906633" type="General" weightage="20" keywordseo="delhi-ncr" source="keywords">Delhi NCR</keyword> (23 per cent) Mumbai (5.19 per cent), Bengaluru (6.78 per cent). Overall, these cities take the lead in a variety of tourism-related industries by leveraging their distinct commercial, technological, and cultural advantages. Other cities, including <keyword id="19897309" type="General" weightage="20" keywordseo="pune" source="keywords">Pune</keyword> (2.33 per cent) and Kochi (2.41 per cent), also contributed significantly to the increase. "As we approach National Tourism Day, we must recognise the favorable employment outlook and honour the vibrant spirit of exploration, cross-cultural exchange, and economic advancement owing to the increased hiring prospects," said <keyword id="19979300" type="General" weightage="20" keywordseo="sashi-kumar" source="keywords">Sashi Kumar</keyword>, Head of Sales at Indeed, in a statement. "This rise across cities reflects their adaptability and the economic growth that the tourism sector brings to the workforce," he added. The hospitality and tourism industry has also noted a shift in the priorities of travellers in 2023 with factors like sustainability and hygiene coming to the forefront. Travellers are now more specific about their itineraries and aim for reduction of energy consumption during their travel, by embracing nature and enjoying local experiences. Automation has also entered certain areas where many are indulging in virtual reality tours and booking tickets via chatbots. The tourism sector is shaping as per these new patterns and job creation is taking place accordingly, the report said.

Travel surge drives 50% rise in hospitality jobs in India: Indeed

<ul><li>Among these cities, the Mumbai Metropolitan Region (MMR), and Pune accounted for over half (51%) of the <keyword id="438914" type="General" weightage="20" keywordseo="total-sales" source="Orion">total sales</keyword>, says an Anarock report</li><li>The number of <keyword id="1085768" type="General" weightage="20" keywordseo="new-launches" source="Orion">new launches</keyword> rose from 82,150 units in Q2 2022, to over 102,610 units in Q2 2023.</li><li>MMR and Pune dominated in terms of <keyword id="1055657" type="General" weightage="20" keywordseo="new-supply" source="Orion">new supply</keyword>, representing 63% of the total new launches across the top 7 cities. </li></ul> Despite the recent surge in home loan rates and economic challenges, including layoffs by both large and small corporations, the Indian housing market has continued its upward trend in the second quarter of the year. <keyword id="1390483" type="General" weightage="20" keywordseo="housing-sales" source="Orion">Housing sales</keyword> in the top seven cities have reached an all-time high, with approximately 115,100 units sold in Q2 2023, According to the latest data from ANAROCK Research. This represents a 36% increase compared to the sales of around 84,940 units in Q2 2022. National Capital Region (NCR), MMR, Bengaluru, Pune, and Hyderabad together accounted for 90% sales in the quarter. MMR, and Pune accounted for over half (51%) of the total sales, with Pune witnessing the highest yearly growth of 65%. Collectively, these two cities contributed to the sale of 58,770 units. <cmsannotation type="cmsannotation" annotationid="Rise in new launches" comment="subhead" text="Rise in new launches">Rise in new launches</cmsannotation> Furthermore, new project launches in the top 7 cities surpassed the one lakh mark once again, experiencing a 25% year-on-year increase. The number of new launches rose from 82,150 units in Q2 2022 to over 102,610 units in Q2 2023. MMR and Pune dominated in terms of new supply, representing 63% of the total new launches across the top 7 cities. Individually, these cities observed a 31% and 29% yearly increase in their new supply, respectively. Says Anuj Puri, Chairman, ANAROCK Group,“Housing sales in the top 7 cities broke the previous high record of Q1 2023, and stood at more than 1.15 lakh units in Q2 2023. Pune and MMR were the only two cities to see a quarterly rise in housing sales, of 4% and 10% respectively, while other cities saw some dip. But on a yearly basis, most top 7 cities saw a significant jump in housing sales.” <cmsannotation type="cmsannotation" annotationid="Increase in residential property prices" comment="subhead" text="Increase in residential property prices">Increase in <keyword id="35281" type="General" weightage="20" keywordseo="residential-property" source="Orion">residential property</keyword> prices</cmsannotation> In Q2 2023, the average residential property prices in the top 7 cities experienced an increase ranging from 6% to 10% compared to Q2 2022. This rise can be attributed primarily to the escalation in prices of construction raw materials and the overall growth in demand. Among these cities, Hyderabad witnessed the highest annual jump of 10%, with the average price reaching INR 4,980 per square foot by the end of Q2 2023.

Indians buying more houses by the day – sales at all-time high between April-June in metros

<ul><li>Overall sales increased by 14% over Q1 2022 across top 7 cities. </li><li>New launches in top 7 cities witnessed a 23% yearly rise. </li><li>Average residential property prices across the top 7 cities increase 6-9%. </li></ul>Despite global economic uncertainties, including layoffs by several large and small companies, the bull run in the Indian housing market continued in the January to March quarter 2023 (Q1 2023). According to the research data by real estate consultancy Anarock, quarterly housing sales are at an all-time high in the last decade, with approximately 1,13,770 units sold in Q1 2023 across the top 7 cities. This is a 14% yearly rise against approximately 99,550 units sold back in Q1 2022. NCR, MMR, Bengaluru, Pune, and Hyderabad together accounted for 89% sales in the quarter. Says Anuj Puri, Chairman, Anarock group, “The residential market’s winning streak continued in the first quarter of 2023 with housing sales in top cities breaching the previous high of Q1 2022. The quarter has recorded the highest ever sales in the last decade amid significant rise in demand for high-ticket priced homes (homes costing more than ₹1.5 crore). In spite of a high number of new launches in this and the previous quarter, the available inventory in the top 7 cities remained almost similar at about 6.27 lakh units by Q1 2023-end. On a sequential basis, unsold stock saw a 1% dip across the top 7 cities. Among the top cities, NCR saw the highest decline in its unsold stock in January to March quarter 2023 by 22%. “The housing sector is experiencing strong sales due to increased affordability over the years. We anticipate closing this fiscal year with the highest number of housing units sold, since our inception. Despite a rise in home loan interest rates, there has been minimal impact on demand nationwide. We anticipate that the demand in the housing sector will continue for at least a few more years,” said Pradeep Aggarwal, founder &amp; chairman, Signature Global (India), commenting on the Anarock report. Puri however added that persistent inflation concerns along with another possible rate hike by the RBI in the near future could dent the housing market’s growth trajectory in the upcoming two quarters. Average residential property prices across the top 7 cities increased in the range of 6-9% in Q1 2023 when compared to Q1 2022, mainly due to increase in the prices of construction raw materials and overall rise in demand. MMR and Bangalore recorded the highest 9% annual jump. New launches in top 7 cities witness a 23% yearly rise New launches across the top 7 cities also breached the one lakh mark and witnessed 23% yearly rise – from 89,140 units in Q1 2022 to over 1,09,570 units in Q1 2023. Interestingly, Mumbai Metropolitan Region (MMR) and Pune again saw the maximum new supply, accounting for 52% of the total new launches across the top 7 cities. Individually, the two cities saw 58% and 34% yearly increases in their new supply, respectively. MMR saw approximately 37,260 units launched in Q1 2023 – a significant increase of nearly 58% over Q1 2022. More than 62% new supply was added in the sub-₹80 lakh budget segment. On the other hand, Pune added a new supply of approximately 19,420 units in Q1 2023 compared to 14,490 units in Q1 2022 – an increase of 34%. · Chennai added approximately 6,410 units in Q1 2023, a yearly increase of a whopping 110% over Q1 2022. It was the only city to see three-digit growth in new supply. While Hyderabad added approximately 14,620 units in Q1 2023, a yearly decline of 32%, Bangalore added approximately. 13,560 units in Q1 2023, yearly increase of just 3%. NCR saw an increase of 34% in new launches against Q1 2022 with approximately 12,450 units launched in Q1 2023, while Kolkata added approximately 5,850 units in Q1 2023, an increase of 50% over Q1 2022. Approximately 70% new supply was added in the mid segment priced between ₹40 lakh-₹80 lakh.

Indian housing market stays strong despite global headwinds: Anarock Research

<ul><li>Sales volumes remained steady in the first quarter of 2023, while prices increased significantly in most markets. </li><li>Homebuyers are now more willing to purchase newly-launched properties at relatively lower prices. </li><li>The percentage of home sales falling in the ₹50 lakh to ₹1 crore category has increased from 35% in Q1 2022 to 38% in Q1 2023.</li></ul>The residential market has started the year 2023 on a solid footing, with sales of 79,126 units in the first quarter (January to March), indicating a year-on-year (YoY) increase of 1%. There wasn't much fluctuation in sales volumes across most markets when compared to the same period last year, reveals the India Real Estate report by real estate consultancy Knight Frank. The report also finds that in Q1 2023, the supply levels in the residential market were significantly higher – 87,299 units were launched, marking a 12% increase compared to the same period last year. Developers have continued to take advantage of the steady demand from homebuyers and launched new projects that cater to their modern needs. Says Pradeep Aggarwal, founder and chairman, Signature Global (India) “Despite several challenges such as increasing input costs and rising home loan interest rates, the demand for housing has remained strong and uninterrupted. This highlights the improved affordability of homebuyers and a shift in mindset towards considering long-term factors over short-term fluctuations.It is encouraging to see that homebuyers are not making hasty decisions based on short-term factors and are instead looking at the bigger picture.” <cmsannotation type="cmsannotation" annotationid="Sales slip in Bengaluru and Mumbai, grow in Hyderabad" comment="subhead2" text="Sales slip in Bengaluru and Mumbai, grow in Hyderabad">Sales slip in Bengaluru and Mumbai, grow in Hyderabad</cmsannotation> Sales showed a decline in the larger markets of Bengaluru and Mumbai, at -6% and -2% respectively. However, it grew in Hyderabad at 19%. In Chennai, NCR and Pune, it registered a growth of 8%, 2% and 1% respectively, while it slowed down by 3% in Kolkata. <cmsannotation type="cmsannotation" annotationid="Prices have grown significantly across most markets" comment="subhead2" text="Prices have grown significantly across most markets">Prices have grown significantly across most markets</cmsannotation> Prices of residential properties have increased significantly in most markets. Bengaluru, Mumbai, and the National Capital Region (NCR), for instance, experienced YoY growth in prices of 7%, 6%, and 3%, respectively. This marks the fifth consecutive quarter of YoY growth in prices across all markets. Even on a sequential basis, prices have either remained steady or increased across markets during the quarter. <cmsannotation type="cmsannotation" annotationid="Homebuyers now more willing to purchase newly-launched properties" comment="subhead2" text="Homebuyers now more willing to purchase newly-launched properties">Homebuyers now more willing to purchase newly-launched properties</cmsannotation> Earlier, homebuyers preferred to purchase ready or nearly-completed inventory to reduce the risk of unfinished projects. However, due to increased demand over the past few quarters, the supply of older inventory has diminished, and buyers are now more willing to purchase newly- launched properties at relatively lower prices. This is evident from the decrease in the average age of inventory from 16.9 quarters in the year-ago period to 16.7 quarters in Q1 2023. <cmsannotation type="cmsannotation" annotationid="Properties worth ₹50 lakh or more make up bigger share of sales pie" comment="subhead2" text="Properties worth ₹50 lakh or more make up bigger share of sales pie">Properties worth ₹50 lakh or more make up bigger share of sales pie</cmsannotation> The share of home sales in the ₹1 crore and above ticket-size has continued to increase over the past three quarters, reaching 29% in Q1 2023, up from 25% a year ago. This trend can be attributed to the need of homebuyers to upgrade to larger living spaces with better amenities. Following a similar growth trajectory, the percentage of home sales falling in the ₹50 lakh to ₹1 crore category has risen from 35% in Q1 2022 to 38% in Q1 2023. However, the share of home sales in the ₹50 lakh and below category has decreased from 41% in Q1 2022 to 32% in Q1 2023. This can be attributed to the rising prices and a relatively more negative impact of the pandemic on homebuyers in this segment, leading to a decrease in demand. It is noteworthy that the mid-size segment now accounts for a larger portion of the sales pie than the ₹50 lakh and below category. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/mobile/news/best-deals-on-iphones-in-india-in-2023/articleshow/99213992.cms">Looking to shift to an iPhone? Here are some of the best deals on iPhone 14, iPhone 13 and more</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/entertainment/news/priyanka-chopra-beats-kylie-jenner-in-the-10-wealthiest-celebrity-beauty-brands-of-2023/slidelist/99211651.cms">Priyanka Chopra’s Anomaly among the 10 wealthiest celebrity beauty brands of 2023</a>

You Searched For "pune growth in sales" and got 14 results

Tech Mahindra profit jumps over 2-times to ₹1,250 crore in Jul-Sep quarter

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Pune housing market sees the highest surge in value of homes sold in FY23

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New property launches dip in major Indian cities, sales growth tepid in Delhi-NCR, Bengaluru

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Housing property sales in Bengaluru, Delhi sees a decline but Mumbai, Pune maintain pace

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Housing markets remain strong in 2024, sales rise 20% across six metro cities in Q1

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Luxury homes in vogue and Delhi, Pune are in top gear

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Residential property demand in India at a 10-year high with mid and premium buyers on the rise

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Housing in top 7 cities to witness a 8-10% average price rise in 2024

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Bajaj Auto sales grow 31 per cent in November

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Mumbai tops real estate sales and new launches in September quarter

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Travel surge drives 50% rise in hospitality jobs in India: Indeed

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Indians buying more houses by the day – sales at all-time high between April-June in metros

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Indian housing market stays strong despite global headwinds: Anarock Research

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Home sales slip in Bengaluru & Mumbai in Q1 2023 even as prices rise across markets: Knight Frank

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