Sales of apartments in Jan-Sep rise 21% to 196,227 units: JLL report

Sales of apartments during the January-September period went up 21 per cent year-on-year to 1,96,227 units across seven major cities on better demand, according to property consultant JLL India.

As many as 1,61,575 units were sold in the same period last year.

Sales of apartments in January-September period of this year have already touched 91 per cent of 2022 annual sales.

"With the onset of the festive season, robust sales are expected in the upcoming quarter and as a result, annual sales in 2023 are expected to surpass sales of 215,000 units recorded in the previous year," JLL India said in a statement on Monday.

Across seven major cities, new launches of apartments also rose 21 per cent to 2,23,905 units during the first nine months of 2023 from 1,84,317 units in the year-ago period.

The seven cities tracked were Delhi-NCR, Mumbai, Kolkata, Chennai, Bengaluru, Hyderabad, and Pune. Mumbai includes Mumbai city, Mumbai suburbs, Thane city, and Navi Mumbai.

JLL said the data includes only apartments and row houses, villas, and plotted developments are excluded from this analysis.

"The prominent launches by branded developers saw good sales traction across all seven cities. Also, the consecutive fourth pause in policy rate by the RBI will have a positive impact on residential sales as financial institutions will maintain the home loan interest rates at the present levels," said Siva Krishnan, head, residential, India, JLL.