Southern Cities Drive Surge in Indian Real Estate Sales

Hyderabad, Bengaluru, and Chennai have emerged as the frontrunners in India's real estate sector, witnessing a 47% rise in housing sales during the July-September period. This surge comes in stark contrast to an overall decline observed across eight major urban markets, as reported by real estate consultancy PropTiger.

In a notable rise, Hyderabad's housing sector grew by 53%, totaling 17,658 units sold, while Bengaluru saw an 18% increase with 13,124 units sold. Chennai demonstrated the most significant growth, with sales more than doubling to 7,862 units during this period, illustrating a robust demand in the southern residential property segment.

PropTiger, recently acquired by Aurum PropTech Ltd, attributes this growth to stable interest rates and proactive policy reforms such as the GST reduction on cement. Executive Director Onkar Shetye expressed optimism regarding the upcoming festive season, emphasizing the challenges of maintaining growth and affordability, especially in mid-level housing.