Summary:

India's housing sector expanded rapidly in 2024, with 2.3 lakh homes sold for US$ 44.85 billion (Rs. 3,80,000 crore) in the first nine months. Premium housing complexes in Delhi NCR led the way, driving demand for larger, more expensive residences. The average transaction price was US$ 193,578.85 (Rs. 1.64 crore) per apartment. The market is expected to reach a record US$ 60.20 billion by the end of FY24.

In the first three quarters of FY24, approximately US$ 11.80 billion (Rs. 1,00,000 crore) worth of homes were sold each quarter, totaling over 115 million square feet. Delhi NCR topped the charts with 39,322 units valued at US$ 14.16 billion (Rs. 1,20,000 crore), surpassing last year’s sales. With continued demand over the holiday season, FY24 sales are expected to reach 305,000 units, signaling strong capital values for FY25.

Source: IBEF 

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