V-Shaped Recovery in India's Housing Market: A 77% Surge in Registrations

The registration of housing properties in India's major cities, including Mumbai and Bengaluru, increased by 77% in the last financial year as compared to FY 2018-19. According to Square Yards, primary market sales now account for 57% of total registrations, with secondary sales seeing significant growth as well.

In a remarkable turnaround since the pandemic, the registration of housing properties in India's metropolitan areas, such as Mumbai, Bengaluru, and Hyderabad, has surged by a staggering 77% over the last six years, according to a report by Square Yards.

The report, 'Primary Vs Secondary: Unpacking Demand Trends in India's Residential Market', highlights that primary market transactions account for 57% of the current registrations, while the secondary market covers the remaining 43%, signaling robust growth in both segments.

Industry expert Tanuj Shori, CEO & Founder of Square Yards, observed a significant rise in the demand for homeownership. This development has been a driving force behind the surge in primary sales, while a preference for ready-to-move-in homes has fueled growth in secondary transactions during the same period.

(With inputs from agencies.)