Home sales increased y-o-y by 41% in September quarter in top 7 cities

30 Sep 2022 , 03:50 PM

According to data from ANAROCK, housing sales increased year-on-year by 41% and quarter-on-quarter by 4% in the third quarter of 2022. A total of 88,230 units were sold in the top 7 cities in the quarter. Among  the top 7 cities, Mumbai Metropolitan Region saw the highest sales of 26000. This was followed by National Capital Region (NCR) at 14,970 units. 

Prices of residential units saw year-on-year increase of between 4% and 7% in the quarter. According to the report, increase in interest rate by RBI can have an adverse impact on housing sales. The report asserts that if home loan interest rate crosses the 9.5% mark then home sales will see an adverse impact. Festive season is expected to give a further boost to home sales.