Record-breaking housing sales reach Rs 3.47 trillion in FY23

07 Jun 2023 CW Team

Following MMR, Pune and the National Capital Region (NCR) captured 17% and 16% of the housing market share, respectively, in terms of the number of units sold. Pune, notably, experienced the most significant growth in both sales value and volume among the major cities. In comparison to FY22, Pune saw a remarkable 77% rise in the value of total houses sold.

The luxury housing segment, consisting of homes priced above Rs 150 million, demonstrated continued growth for the second consecutive year. The volume of units sold in this segment increased, accounting for 20% of the total market share in FY23, compared to 10% in FY22 and 5% in FY21. Anuj Puri, Chairman at Anarock Group, attributed the upward trend in luxury housing to improved homeownership sentiment, increased earning potential, and the desire for future-proof homes in terms of size, lifestyle, and resale value. Puri highlighted that buyers are willing to invest in these factors, as evidenced by recent record-breaking sales of luxury projects by prominent developers.

The consultancy firm noted that luxury real estate has experienced a significant upswing following the COVID-19 pandemic. The demand extends beyond larger spaces, with increased interest in technologically equipped homes that provide convenience-driven lifestyles and a sense of pride in ownership. MMR, NCR, and Bengaluru emerged as the cities with the highest sales of luxury homes in India during FY23.

Your next big infra connection is waiting at RAHSTA 2025 – Asia’s Biggest Roads & Highways Expo, Jio World Convention Centre, Mumbai. Don’t miss out!

Housing sales in India's top seven cities reached an all-time high, totalling Rs 3.47 trillion in the financial year 2022-23 (FY23), as revealed by property consultancy firm Anarock Group. The data indicates a significant 48% surge in the total value of residential real estate sales, with 379,000 units being sold, marking a 36% increase in volume compared to the previous year. The Mumbai Metropolitan Region (MMR) accounted for the largest market share in both value and volume in FY23. The region witnessed the sale of 30% of all houses, amounting to a total value of Rs 1.67 trillion, representing 48% of the overall market share in terms of value.Following MMR, Pune and the National Capital Region (NCR) captured 17% and 16% of the housing market share, respectively, in terms of the number of units sold. Pune, notably, experienced the most significant growth in both sales value and volume among the major cities. In comparison to FY22, Pune saw a remarkable 77% rise in the value of total houses sold.The luxury housing segment, consisting of homes priced above Rs 150 million, demonstrated continued growth for the second consecutive year. The volume of units sold in this segment increased, accounting for 20% of the total market share in FY23, compared to 10% in FY22 and 5% in FY21. Anuj Puri, Chairman at Anarock Group, attributed the upward trend in luxury housing to improved homeownership sentiment, increased earning potential, and the desire for future-proof homes in terms of size, lifestyle, and resale value. Puri highlighted that buyers are willing to invest in these factors, as evidenced by recent record-breaking sales of luxury projects by prominent developers.The consultancy firm noted that luxury real estate has experienced a significant upswing following the COVID-19 pandemic. The demand extends beyond larger spaces, with increased interest in technologically equipped homes that provide convenience-driven lifestyles and a sense of pride in ownership. MMR, NCR, and Bengaluru emerged as the cities with the highest sales of luxury homes in India during FY23.

Resources

08 Sep 2025

IGBC Launches 32nd Chapter in Ranchi to Drive Green Building Growth

The CII Indian Green Building Council (IGBC) has launched its 32nd Chapter in Ranchi to accelerate Jharkhand’s transition towards sustainable and resilient urban infrastructure. The launch event, held on September 6 at Radisson Blu Hotel, brought together government officials, industry leaders, and sustainability experts. Sunil Kumar, IAS, Principal Secretary, Urban Development & Housing Department, Government of Jharkhand, said, “The launch of the IGBC Ranchi Chapter marks a significant step in Jharkhand’s urban development journey. The state is committed to creating a policy e..

Real Estate

08 Sep 2025

Mindspace REIT Marks Five Years With 14.8 Per Cent Annualised Returns

Mindspace Business Parks REIT, owner and developer of a Grade-A office portfolio, has completed five years since its listing on the Indian bourses in August 2020. Despite debuting during the global pandemic, the REIT has delivered 14.8 per cent annualised total returns, expanded its portfolio, and reinforced occupier trust. Key achievements over five years include: Portfolio expansion of 30 per cent to 31.0 msf through acquisitions and new developments. Gross leasing of 25.2 msf, with occupancy sustained at 93.7 per cent. Cumulative distribution of Rs 55.9 billion to unitho..

Real Estate

08 Sep 2025

Great Value Realty Secures RERA Nod for Ultra-Luxury Ekanam Project

Great Value Realty, one of North India’s most trusted developers, has received RERA approval for its flagship ultra-luxury residential project, Ekanam (RERA No. UPRERAPRJ15109/2019). The announcement was made during the Great Partners Meet at Noida. Built on the only available land parcel in Sector 107, Noida, Ekanam embodies the company’s philosophy, “Great is the New Norm,” promising excellence in design, quality, and sustainable community living. With seamless connectivity to Noida Expressway, DND Flyway, metro stations, and proximity to the upcoming Jewar Airport, the project ..