In the third quarter of this year, India’s residential property sales were the highest since 2007.

By Admin |
Mar 04, 2022 |
0 |

In the third quarter of this year, India’s residential property sales were the highest since 2007.

In the third quarter of FY2022, sales in India’s residential real estate sector established a new high – the highest since FY2007. Covid-19 headwinds like lower consumer sentiments, market uncertainty, and so on were still a problem.

India saw a 17% rise in residential real estate sales in the third quarter of FY 2022, even though the market was uncertain and Covid-imposed restrictions were in place. After the second wave of Covid, the sales numbers show a significant change in people’s feelings. Kotak Institutional Equities’ report says that India sold 194.7 million square feet of residential real estate during the period, which is more than the 165.8 million square feet that were sold last year in the same period. This is the best sales number since FY2007, and the previous best was 174 million sqft in 4QFY11, which was the last quarter.

The top boosters.

In terms of cities, the report reported that Hyderabad had the most substantial sales momentum with a 35% YoY increase, followed by Bengaluru with a 20% YoY rise and NCR with a 16% YoY rise said. Mumbai’s sales rose 8% YoY in 2QFY22. In 3QFY22, India had a modest decrease in new product launches. India showed a decrease in launch activity, with 114.9 million square feet compared to 126.3 million square feet in 2QFY22. There have also been a lot fewer homes for sale in India, which has led to an increase in the average price of a house across the country by 7% year-over-year to Rs 6,303 per sqft for the third quarter of FY22. Sales in major metro cities are broken down by city.

• To put it another way, the number of square feet sold in the National Capital region grew by 40% in three quarters of this year, from 11.4 million square feet in two quarters. During the third quarter of this year, the sales mix mainly was made up of Gurugram (43%) and Noida (20%) and Greater Noida (17%), which made up the rest. In 3QFY22, 6.8 million square feet of new projects were launched in the NCR. Gurugram made up 53% of the new homes built in the first three months of the year. Noida made up another 24%.

• The Mumbai Metropolitan Region (MMR) saw a boost in sales momentum in the third quarter of this year, with sales reaching 35.3 million sqft (24.9 per cent sqft in 2QFY22). Thane still had the highest share of sales in the MMR at 48% in the third quarter of this year. Mumbai and Navi Mumbai made up 37% and 15% of the sales, respectively. There were 22.1 million square feet of new construction in the MMR in the third quarter of this year, up 18 per cent from the second quarter. Thane and Mumbai accounted for 52% and 38% of the new construction, respectively.

• Over the last three months, 21.6 million sqft of space was sold in Bangalore, compared to 6.9 million sqft launched in the same period. This is a 35% rise in sales and a 40% rise in units sold. A new project started in December 2021, but only 2.3 million sqft of space was sold. This is down from the 35.3 million sqft sold in the same time last year, which was down 20% from the same time the previous year. After strong sales, there will be 122 million square feet of inventory left at the end of December 2021. This is down by 19 per cent from last year.

• In the third quarter of this year, Hyderabad sold 24 million square feet of space, compared to 24.2 million square feet built. In December 2021, there were 121 million square feet of unfilled space, which is about 1.5 years’ worth of sales. To put it another way, sales rose 15% from last year to Rs 6,486 per square foot.

A substantial 52 per cent YoY growth in sales led us to an 11.8 per cent market share in India on a country-wide basis (Rs 1.2 tn, up 26 per cent YoY). Across the top three metros, the market share for coverage universe is up to 18.7% in the third quarter of this year. There were sales of Rs 145 billion in the third quarter of this year, which is twice as much as the average quarterly sales of Rs 78 billion in FY2021 (annual sales of Rs 314 billion).

Prestige is among the top players with sales of Rs 43 billion, which led the way, followed by Others with Rs 20 billion, DLF with Rs 20 billion, Lodha with sales of Rs 26 billion.



  • Property Advice (30)
  • Home Decoration (8)
  • Vastu (8)
  • Delhi NCR (8)
  • Investment Guide (16)
  • Real Estate News (54)
  • NRI (9)
  • Wealth-Clinic (4)

Recent Post

7 Amazing Space-Saving Hacks for Your Home
Oct 05, 2023
Master Plan 2041 approved for development of Olympic Village in Noida
Sep 28, 2023
Moving Homes in India: Your Essential Checklist
Sep 14, 2023
3 Ways In Which WC Helps NRIs
Aug 25, 2023

Recent Property

The Great Northern Bazaar
₹ 45L - ₹ 1.5Cr
Retail Shop 459 Sq. Ft
Gaur Aerocity Mall
₹ 43L - ₹ 80L
Commercial Shops

Follow Us