Average residential prices in top seven cities of the country have gone up 23% in first half of the current financial year as compared to the corresponding period of previous financial year, said a report on Wednesday.
The average residential price in top seven cities in H1FY25 stood at Rs 1.23 crore as compared to Rs 1 crore in H1 FY24, said a report by Anarock Property Consultants.
The Nation Capital Region saw the highest average ticket size growth of 56% from nearly Rs 93 lakh in H1 FY24 to over Rs 1.45 crore in H1 FY25.
Nerly 32,120 units worth Rs 46,611 crore were sold as compared to 32,315 units worth Rs 30,154 crore were sold in the region in H1 FY24. While the value of sold inventory increased 55% in this period, the total number of units sold declined 1%.
Mumbai Metropolitan Region saw no change in average ticket size in this period. In H1 FY 24, the average ticket size of sold units was Rs 1.47 crore . The region saw nearly 76,410 units worth Rs 1.12 lakh crore sold in H1 FY 24, while H1 FY 25 saw nearly 77,735 units worth nearly 1.14 lakh crore sold.
At 44%, Bengaluru witnessed the second highest jump in average ticket size among the top seven cities – it rose from Rs 84 lakh in H1 FY24 to Rs 1.21 crore in H1 FY25. Nearly 31,440 units worth Rs 26,274 crore were sold in the city in H1 FY 24. H1 FY25 saw nearly same number of units (31,381) sold, but their total value was higher at Rs 37,863 crore.
In Hyderabad, H1 FY24 saw the average ticket size of sold units at Rs 84 lakh. This increased 37% to Rs 1.15 crore in H1 FY25. Nearly 29,940 units worth Rs 25,059 crore were sold in Hyderabad in H1 FY24, while in H1 FY25, nearly 27,820 units worth nearly Rs 31,993 crore were sold.
Anuj Puri, chairman – Anarock Property Consultants said: “Over 2,27,400 units worth nearly Rs 2.79 lakh crore were sold across the top seven cities between April and September 2024. Contrastingly, the corresponding period of FY24 saw nearly 235,200 units worth Rs 2.35 lakh crore sold. Despite a 3% drop in overall unit sales, the total sales value outstripped that of a year ago by 18% – clearly underscoring the unrelenting demand for luxury homes.”