Reflecting the buoyancy in Hyderabad's real estate market, approximately 44,220 housing units valued at around Rs. 35,802 crore were sold in the initial nine months of 2023, as per Anarock Research's 9M 2023 report released on Thursday. This period witnessed a significant surge in property sales compared to the same timeframe in 2022.
Specifically, Hyderabad recorded a substantial increase in home sales, marking a 43% surge from approximately Rs. 25,001 crore in 9M 2022 to Rs. 35,802 crore in 9M 2023, according to Anarock's data.
The report highlighted a nationwide trend of the residential sector setting new records in 2023, with housing sales hitting unprecedented highs quarter-on-quarter. Additionally, the overall sales value of housing inventory showed a gradual incline.
Anticipating Q4 2023 sales figures, the momentum indicated a strong likelihood of total home sales in 2023 surpassing Rs. 4.50 lakh crore, a remarkable 38% increase from 2022's total sales value.
In the first nine months alone, the cumulative residential property sales value witnessed a 7% uptick compared to the entire previous year, with the top seven cities contributing to approximately Rs. 3,48,776 crore worth of sold inventory during this period, compared to Rs. 3,26,877 crore in all of 2022.
Anarock's analysis showcased the Mumbai Metropolitan Region (MMR) leading the charts, having sold approximately Rs. 1,63,924 crore worth of inventory (around 1,11,280 units) in 9M 2023, followed by the National Capital Region (NCR) with a cumulative sales value of Rs. 50,188 crore (approximately 49,475 units) in the same period.
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