Housing sales increase 5% in Q3 2024: Knight Frank
Real Estate

Housing sales increase 5% in Q3 2024: Knight Frank

Housing sales across eight major cities rose 5% year-on-year during the July-September period, reaching 87,108 units, driven by strong demand for premium homes, according to Knight Frank India.

In a webinar, the real estate consultant released its 'India Real Estate' report for Q3 2024, highlighting a modest increase in housing sales compared to reports from Anarock and PropEquity, which indicated a decline in total sales during the same period.

""The residential market has shown positive momentum in 2024, with Q3 recording the highest quarterly sales this year at 87,108 units,"" the report noted.

During a virtual press conference, Knight Frank India CMD Shishir Baijal emphasized that the growth in housing sales is primarily fueled by demand for premium properties priced above ₹1 crore. However, he raised concerns about the affordable housing segment, noting a decline in sales due to issues with availability and affordability.

The report indicates that housing sales have increased in most markets, except in Delhi-NCR, where sales dipped by 7% year-on-year.

Mumbai led the sales with 24,222 units, marking a new high for the market and a 9% increase compared to last year. Bengaluru saw the largest growth among major markets, with sales rising 11% year-on-year to 14,604 units.

Pune's housing sales increased by 1% to 13,200 units, while Hyderabad experienced a 9% rise, reaching 9,114 units. Ahmedabad recorded an 11% growth in sales to 4,578 units, and Kolkata saw a 14% increase to 4,309 units. Chennai also reported a 6% increase, totaling 4,105 units.

In contrast, the Delhi-NCR region faced a decline, with residential sales falling 7% to 12,976 units compared to the same period last year.

Housing sales across eight major cities rose 5% year-on-year during the July-September period, reaching 87,108 units, driven by strong demand for premium homes, according to Knight Frank India.In a webinar, the real estate consultant released its 'India Real Estate' report for Q3 2024, highlighting a modest increase in housing sales compared to reports from Anarock and PropEquity, which indicated a decline in total sales during the same period.The residential market has shown positive momentum in 2024, with Q3 recording the highest quarterly sales this year at 87,108 units, the report noted.During a virtual press conference, Knight Frank India CMD Shishir Baijal emphasized that the growth in housing sales is primarily fueled by demand for premium properties priced above ₹1 crore. However, he raised concerns about the affordable housing segment, noting a decline in sales due to issues with availability and affordability.The report indicates that housing sales have increased in most markets, except in Delhi-NCR, where sales dipped by 7% year-on-year.Mumbai led the sales with 24,222 units, marking a new high for the market and a 9% increase compared to last year. Bengaluru saw the largest growth among major markets, with sales rising 11% year-on-year to 14,604 units.Pune's housing sales increased by 1% to 13,200 units, while Hyderabad experienced a 9% rise, reaching 9,114 units. Ahmedabad recorded an 11% growth in sales to 4,578 units, and Kolkata saw a 14% increase to 4,309 units. Chennai also reported a 6% increase, totaling 4,105 units.In contrast, the Delhi-NCR region faced a decline, with residential sales falling 7% to 12,976 units compared to the same period last year.

Next Story
Resources

Ajmera Realty launches tree drive on Environment Day

Ajmera Realty & Infra India marked World Environment Day with a large-scale tree plantation initiative—Plant-with-Purpose—across its projects in Mumbai and Bangalore. The drive was inaugurated at Ajmera Manhattan and Ajmera Greenfinity in Wadala, with senior company officials and residents in attendance. The campaign encourages residents to embrace eco-conscious, self-reliant lifestyles by growing useful plants and trees within their communities. Horticulture expert Devendra Bhekar guided residents on creating and maintaining green spaces. Ajmera Realty planted over 500 trees..

Next Story
Resources

Twaron®-reinforced tyre powers Brunel’s solar race car

Teijin Aramid’s Twaron® with circular content will debut in Bridgestone’s race tyres for the 2025 Bridgestone World Solar Challenge, supporting the Brunel Solar Team’s Nuna 13 car. This marks the first use of the recycled-content aramid in a high-performance race tyre. The Twaron®-reinforced belts help enhance durability, reduce rolling resistance, and maintain lightweight strength—critical for the 3,000-km solar race across Australia. Bridgestone combines this with ENLITENTM tech and other recycled inputs to maximise environmental and performance outcomes. Teijin Aramid, a..

Next Story
Building Material

Kamdhenu Paints launches new wood coating range

Kamdhenu Paints has launched a comprehensive premium wood coating range designed for both interior and exterior applications. The collection includes high-performance solutions like Kamwood 2K PU for a rich matt or high-gloss finish, Kamwood 1K PU for clarity and stain protection, and the Kamwood Melamyne system for a smooth, durable finish. Also featured are Kamwood Wood Stains, which enhance wood grains with vibrant colour, and NC Sanding Sealer for high-build grain filling. The range is supported by Kamwood Thinners for ease of application and optimal finish. Saurabh Agarwal, MD, ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?