#anujpuri

Sky-high rents make Bengaluru India's hottest residential market House-hunting in Bengaluru has gotten tougher as home rents have doubled since the beginning of 2022.Read more... https://qz.com/bengaluru-has-indias-hottest-residential-market-1850297466

Despite increased interest rates and basic property cost, the top 7 cities saw homes worth INR 1,55,833 crore sold in the first half of FY23, rising by 119% on yearly basis. The overall value of units sold in the corresponding period of FY22 was approx. INR 71,295 crore. Between April and September 2022, approx. 1,73,155 homes were sold across the top 7 cities; approx. 87,375 units were sold in the same period a year ago. Anuj Puri, Chairman - ANAROCK Group, says, "In value terms, MMR topped the list with housing sales worth INR 74,835 Cr in H1 FY23, followed by NCR with sales of INR 24,374 Cr. While MMR saw a yearly gain of 110% in overall housing sales value (it was INR 35,610 Cr in H1 FY22), NCR saw a whopping 174% jump." "In H1 FY22, NCR saw total housing sales worth INR 8,896 crore," says Puri. "Approx. 52,185 homes were sold in MMR in the April-September period in the ongoing fiscal, while NCR witnessed sales of approx. 30,300 units in the same period. MMR dominated housing sales both in volume and value terms, followed by NCR and Pune." Interestingly, Hyderabad saw a 130% jump in overall housing sales values in this period – from INR 6,926 crore in H1 FY22 to INR 15,958 crore in H1 FY23. Approx. 22,840 homes were sold in Hyderabad in the first half of FY23. In Bengaluru, homes cumulatively worth INR 17,651 crore were sold in H1 FY23, against INR 8,218 Cr in the two quarters of FY22 - an annual increase of 115%. Pune sold approx. 26,580 homes worth INR 13,532 crore i Read the full article