Housing sales in FY23 up 48% to Rs 3.47 lakh crore driven by higher volumes & prices: Anarock

The data pertains to the transactions of primary (fresh sale) housing market.

"India’s residential real estate segment continues to show boundless forward momentum, and is setting unprecedented benchmarks," said Anuj Puri, Chairman, Anarock Group.

According to the data, housing sales in Delhi-NCR rose 42 percent to Rs 50,620 crore last fiscal from Rs 35,610 crore in the previous year.

In Mumbai Metropolitan Region (MMR), sales grew 46 percent to Rs 1,67,210 crore from Rs 1,14,190  crore.

Housing sales in Bengaluru increased 49 percent to Rs 38,870 crore from Rs 26,100 crore.

In Pune, housing sales rose 77 percent to Rs 33,730 crore from Rs 19,100 crore.

Sales in Hyderabad went up 50 percent to Rs 34,820 crore from Rs 23,190 crore.

Chennai saw a 24 percent growth in sales to Rs 11,050 crore from Rs 8,940 crore.

Housing sales in Kolkata increased 38 percent to Rs 10,660 crore during the last fiscal from Rs 7,720 crore in the previous financial year.

Commenting on the trend, Gurugram-based luxury realty firm Krisumi Corporation MD Mohit Jain said the housing sector has undergone a transformation in recent years, becoming more mature and fundamentally robust.

"While there is significant demand from end-users, investors are also returning to the market," Jain said.

Signature Global, which is into affordable housing, Chairman Pradeep Aggarwal said millennials are now actively investing in real estate, contributing to the overall rise in property sales.