As disposable income and private consumption surge, the average price of homes sold in top seven cities was Rs 1.23 crore in the first six months this fiscal, against Rs 1 crore in the corresponding period of FY24, an increase of 23 per cent (year-on-year), according to a report on Wednesday. There have been record new launches and sales of costlier homes across these cities amid escalating demand for luxury homes after the pandemic, as per the Anarock Group data.
"Over 2,27,400 units worth approximately Rs 2,79,309 crore were sold across the top 7 cities between April and September 2024. Contrastingly, the corresponding period of FY2024 saw approx. 2,35,200 units worth Rs 2,35,800 crores sold," said Anuj Puri, Chairman, Anarock Group.
Despite a three per cent drop in overall unit sales, the total sales value outstripped that of a year ago by 18 per cent -- clearly underscoring the unrelenting demand for luxury homes, he added. Among the top seven cities -- at 56 per cent – Delhi-NCR saw the highest average ticket size growth – from around Rs 93 lakh in H1 FY2024 to over Rs 1.45 crore in H1 FY2025.
About 32,315 units worth Rs 30,154 crores were sold in the region in H1 FY2024, while around 32,120 units worth Rs 46,611 crores were sold in H1 FY2025. The value of sold inventory increased by 55 per cent in this period, the total number of units sold declined by 1 per cent. At 44 per cent, Bengaluru witnessed the second-highest jump in average ticket size among the top 7 citi.