Sales of apartments priced above Rs 1 cr up 83 pc in Jan-Mar in 7 cities: Report

Sales of apartments priced at Rs 1 crore and above rose 83 per cent to 10,988 units during the January-March period this year on rising demand for bigger flats amid the pandemic, according to JLL India.

Sales volume in this price category stood at 5,994 units in the year-ago period.

JLL India on Friday released its quarterly sales data, which includes only apartments, for seven major cities namely Bengaluru, Chennai, Pune, Mumbai, Kolkata, Delhi-NCR and Hyderabad. Rowhouses, villas, and plotted developments are excluded from the analysis.

According to the data, sales of apartments in price bracket of Rs 1-1.5 crore grew to 6,187 units during January-March as compared to 3,450 units a year ago.

Sales of apartments priced over Rs 1.5 crore rose to 4,801 units from 2,544 units in the year-ago period.

In its Residential Market Update - Q1 2022, JLL India said total sales of apartments across the seven cities went up to 51,849 units in January-March 2022 from 28,352 units in the corresponding period of the previous year.

Sales for the period under review also surpassed the average quarterly sales during the pre-COVID 2018-19 period by a significant 148 per cent.

Sales of apartments in Bengaluru increased to 12,202 units from 5,216 units, while demand in Chennai grew to 3,450 units from 3,200 units.

Delhi-NCR market saw sales rise to 8,633 units from 5,448 units, while Hyderabad witnessed sales of 4,012 units in January-March 2022 as against 3,709 units a year ago.

In Kolkata, sales rose to 3,806 units from 1,320 units.

Sales of apartments in Mumbai increased to 11,648 units from 5,779 units.

In Pune, sales were recorded at 8,098 units in January-March 2022 from 3,680 units in the corresponding period of the previous year.