Luxurious housing phase has carried out fairly properly in India submit the pandemic, with total gross sales rising steeply throughout the highest 7 metros.
Property guide ANAROCK Analysis knowledge exhibits that 14 per cent of the overall housing models offered throughout the first half of 2022 (January-June) had been luxurious houses. A complete of 1.84 lakh housing models had been offered within the prime seven cities throughout the interval, of which roughly 25,700 had been from the luxurious phase.
In the identical interval final 12 months, simply 7 per cent had been from the luxurious phase, the property guide stated.
“These gross sales figures are much more exceptional if we contemplate that it’s primarily end-users who’re driving luxurious housing gross sales throughout these cities at this time,” stated Anuj Puri, Chairman of ANAROCK Group.
“Despite the fact that the standard patrons on this phase weren’t as impacted by the pandemic as the remaining, excessive internet people are acutely aware of value. Reductions by builders made luxurious properties very enticing for these patrons and non-resident Indians have additionally been snapping up luxurious houses in India due to the beneficial change charge,” Puri added.
Luxurious housing comes with superior facilities – be it interiors, safety, health club, swimming pool, play space for kids, correct parking area, amongst others.
Mumbai and Delhi NCR have led luxurious house gross sales with the primary half of 2022 seeing roughly 17,830 models offered in these two cities alone. In 2019, they accounted for a mere 11,890 luxurious houses offered in the complete 12 months.
By way of total gross sales share, Mumbai’s luxurious housing gross sales share elevated from 13 per cent in 2019 to 25 per cent in 2022. In Delhi NCR, the gross sales share rose to 12 per cent in 2022, from 4 per cent in 2019.
On the flip aspect, demand for the inexpensive housing phase was considerably impacted as a result of its target market took the most important financial hit throughout the pandemic. Housing models costing under 40 lakhs are thought-about inexpensive housing.
Metropolis sensible, Hyderabad noticed the utmost dip in inexpensive housing gross sales share — from 23 per cent in 2019 to six per cent in 2022, adopted by Chennai — from 52 per cent in 2019 to 36 per cent in 2022.