The sales volume also showed strong growth trajectory, with a 36 per cent rise to 379,095 units sold in FY23.
Mumbai Metropolitan Region (MMR) led with the largest share by both sales value and volume.
Anarock’s data shows that housing sales in Delhi-NCR and Mumbai Metropolitan Region (MMR) surged by 42 per cent and 46 per cent respectively, while Bengaluru saw a 49 per cent spike. Pune topped the growth chart with a striking 77 per cent rise. Sales in Hyderabad and Chennai grew by 50 per cent and 24 per cent, respectively, while Kolkata recorded a 38 per cent increase.
While the rise in sales volume and price increments have driven phenomenal growth in the value of the units sold, there has been a significant rise in luxury housing (units priced above Rs 1.5 crore) sales across these cities as well.
People are willing to pay for these factors, as has been amply vouchsafed by recent record runs on luxury projects by leading developers, he added
Anarock data shows that MMR, NCR and Bengaluru have led in luxury housing uptake, but Pune is another city to watch. While it registered the highest growth in value terms, it also recorded a nine per cent share of the luxury segment, from a negligible share in earlier years.
The last quarter of FY23 saw a significant increase in luxury housing demand, bolstered by Union Budget’s revision of capital gains tax which limits the benefit to Rs 10 crore after the end of the preceding fiscal year. This led to a bull-run on qualifying properties.