Residential sales attain 4-year high across top 8 cities in Jan-Mar

11 Apr 2022 CW Team

Despite the inconvenience caused by the third wave of the Covid 19 pandemic, residential property sales in the country's top eight cities hit a four-year high in January-March.

According to Knight Frank India research, quarterly sales reached a high of 78,627 residential units in the first quarter of the new year, up 9% from the previous quarter, while average capital prices of residential properties rose 1 to 7% in all leading regions as demand remained strong.

New property launches totalled 78,171 units throughout these areas, indicating that supply maintained up with demand. During the quarter, Mumbai had the highest volume of sales, with 21,548 units sold, and Delhi-NCR had the biggest year-over-year gain in new home sales, with a 123% increase.

For the third straight quarter, sales were substantially above the pre-pandemic average quarterly volume, indicating a sustained rebound in demand across the country.

During the quarter, all cities saw an increase in per sq ft costs year-over-year (YoY). Bengaluru had the highest year-on-year price growth, at 7%, followed by Pune and Mumbai, at 5% and 4%, respectively.

While financial stress remains a significant problem for developers across markets, Baijal believes that solid and sustained homebuyer activity would pave the path for incremental price rises, allowing them to weather the rising costs of critical inputs such as cement and steel.

The sub-Rs 50 lakh category saw the most sales, accounting for 41% of total sales in the quarter. However, it is worth noting that the upper category, defined as sales of Rs 1 crore or more, witnessed a gain in sales share in this quarter. This segment accounted for 25% of total sales, up from 18% a year before.

The sale momentum in the country's commercial capital was also hampered in the first quarter due to uncurtaining surrounding Omicron, but sales picked up in the second as consumers rushed to close deals before the April 1 implementation of a 1% metro cess and an upward revision in the Ready Reckoner (RR) rates, which will raise the cost of property acquisition in the city.

In the first quarter, new product launches had similar volumes to sales. Launches increased by 3% in the third quarter, with 78,171 new units being added. The only two markets that saw a decrease in launches year over year were Mumbai (-24%) and Pune (- 49%). The NCR market had a significant increase of 692%, while the Kolkata market saw a 141% YoY increase in new units launched, aided by the robust sales volumes that the region has been generating.

Image Source

Also read: Property registrations’ revenue hits record of Rs 12,700 cr in TN

Despite the inconvenience caused by the third wave of the Covid 19 pandemic, residential property sales in the country's top eight cities hit a four-year high in January-March. According to Knight Frank India research, quarterly sales reached a high of 78,627 residential units in the first quarter of the new year, up 9% from the previous quarter, while average capital prices of residential properties rose 1 to 7% in all leading regions as demand remained strong. New property launches totalled 78,171 units throughout these areas, indicating that supply maintained up with demand. During the quarter, Mumbai had the highest volume of sales, with 21,548 units sold, and Delhi-NCR had the biggest year-over-year gain in new home sales, with a 123% increase. For the third straight quarter, sales were substantially above the pre-pandemic average quarterly volume, indicating a sustained rebound in demand across the country. During the quarter, all cities saw an increase in per sq ft costs year-over-year (YoY). Bengaluru had the highest year-on-year price growth, at 7%, followed by Pune and Mumbai, at 5% and 4%, respectively. While financial stress remains a significant problem for developers across markets, Baijal believes that solid and sustained homebuyer activity would pave the path for incremental price rises, allowing them to weather the rising costs of critical inputs such as cement and steel. The sub-Rs 50 lakh category saw the most sales, accounting for 41% of total sales in the quarter. However, it is worth noting that the upper category, defined as sales of Rs 1 crore or more, witnessed a gain in sales share in this quarter. This segment accounted for 25% of total sales, up from 18% a year before. The sale momentum in the country's commercial capital was also hampered in the first quarter due to uncurtaining surrounding Omicron, but sales picked up in the second as consumers rushed to close deals before the April 1 implementation of a 1% metro cess and an upward revision in the Ready Reckoner (RR) rates, which will raise the cost of property acquisition in the city. In the first quarter, new product launches had similar volumes to sales. Launches increased by 3% in the third quarter, with 78,171 new units being added. The only two markets that saw a decrease in launches year over year were Mumbai (-24%) and Pune (- 49%). The NCR market had a significant increase of 692%, while the Kolkata market saw a 141% YoY increase in new units launched, aided by the robust sales volumes that the region has been generating. Image Source Also read: Property registrations’ revenue hits record of Rs 12,700 cr in TN

Equipment

12 Dec 2025

Schwing Stetter India Unveils New Innovations at Excon 2025

Schwing Stetter India unveiled more than 20 new machines at Excon 2025, marking one of its most significant showcases and introducing several India-first technologies to the construction equipment sector. The company launched the country’s first 56-metre boom pump designed and manufactured in India, the first fully electric truck mixer, the first CNG mixer variant and the first hybrid boom pump. Executives said the launch portfolio was engineered to support India’s move toward faster, greener and more vertically oriented infrastructure through advanced engineering, clean-energy solutions a..

Infrastructure Energy

12 Dec 2025

SEPC Resolves Hindustan Copper Dispute, Wins Rs 725 Mn Order

Engineering, procurement and construction firm SEPC Ltd has recently settled a dispute with Hindustan Copper Ltd (HCL) and secured a mining infrastructure order valued at Rs 725 million from the state-owned company. SEPC informed the stock exchanges that it has executed a settlement deed with HCL, bringing closure to all inter-se claims and counterclaims arising from arbitration proceedings. As part of the settlement, SEPC will receive Rs 304.5 million as full and final payment, marking the resolution of all pending disputes between the two entities. The company also stated that Hindustan Co..

Infrastructure Energy

12 Dec 2025

20% Ethanol Blending Cuts India’s CO2 Emissions by 73.6 Mn Tonnes

Union Road Transport and Highways Minister Nitin Gadkari recently said that India has reduced carbon dioxide emissions by 73.6 million metric tonnes due to the adoption of 20 per cent ethanol blending in petrol. He made the statement while replying to supplementary questions during the Question Hour in the Lok Sabha. Describing ethanol as a green fuel, the minister said it plays a key role in reducing pollution while also supporting higher incomes for farmers. He underlined that ethanol blending contributes both to environmental sustainability and rural economic growth. Nitin Gadkari also po..