123 Kolkata: More homes are set to be sold in Kolkata this year when compared with a city like Chennai. By the end of this year, the number of homes sold in Kolkata could exceed 17,000 units, with a value close to Rs 12,000 crore. A study by international real estate consultant JLL reported sales of over 13,500 homes in Kolkata from Jan to Sept, valued at Rs 8,869 crore.
The total built-up area of homes sold is pegged at 15.2 million sq ft.
According to the report, 9,263 units were sold in Chennai in the Jan to Sept period, which is 32% less than in Kolkata. However, since Kolkata homes are more affordable, the value of homes sold in Kolkata was only 10% higher than in Chennai. The total area of homes sold in Chennai is pegged at 12.3 million sq ft.
The highest sales during this period were recorded in Bengaluru at 51,512 units. Mumbai was next with sales of 50,209 units.
In terms of value, it was Delhi NCR that recorded highest sales at Rs 1.2 lakh crore. Mumbai, with an aggregate home value of Rs 94,883 crore, was next.
Delhi NCR also accounted for the largest built-up area sold at 89.9 million sq ft, followed by Bengaluru at 73.5 million sq ft.
"India's residential market continues to remain on a strong footing, with 2024 expected to end as the best year ever in terms of the sector's performance across the top seven cities. At the end of 2024, over 3 lakh homes worth Rs 5.1 lakh crore across 485 million sq ft are expected to be sold. Housing sales have remained healthy and hit a new nine-month (Jan to Sept) peak in 2024, with close to 2.3 lakh homes across the top seven cities worth Rs 3.8 lakh crore sold during this period. This translates into 363.2 million sq ft of space sold during Jan to Sept 2024. This was primarily driven by premium housing projects recording robust sales during the year, especially in Delhi NCR," said JLL India's chief economist and research head Samantak Das.
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