Sales of homes priced above Rs 4 crore grew 10 percent in March quarter: CBRE

New Delhi . Sales of homes priced at Rs 4 crore or more increased by 10 percent in the January-March quarter in seven major cities of the country. CBRE has given this information in a report. Real estate consultant CBRE South Asia said in its report that luxury homes priced at Rs 4 crore and above accounted for about five per cent of the overall housing sales in the March quarter. According to the data, the total sale of houses worth more than Rs 4 crore in seven major cities of the country during January-March this year stood at 4,140 units.

In the same period a year ago, 3,780 houses in this price range were sold. Anshuman Magazine, Chairman and CEO (India, South-East Asia, Middle East and Africa), CBRE, said, the Indian luxury real estate sector shows a strong foundation for continued expansion. It is based on steady growth in household income and the strength of consumer spending. Taking advantage of the positive sales in this segment, real estate developers across the country are preparing to launch new projects, he said.

During the period under review, sales of homes priced at Rs 4 crore and above in Delhi-NCR declined from 1,880 units to 1,150 units. Sales of luxury homes in Bengaluru dropped from 70 units to 10 units. Similarly, sales in Kolkata also declined to 70 units. However, sales of luxury homes have increased in Mumbai, Pune and Hyderabad. 1,330 luxury homes were sold in Mumbai as against 1,150 homes sold a year ago. Sales in Pune increased manifold from 150 units to 700 units. Similarly, in Hyderabad also the sale of luxury homes increased from 380 units to 800 units.

Disclaimer: CricketInFocus has not edited this news. This news has been published from PTI-language feed.

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