Housing sale increase by 4% in tier 2 cities
tier 2 cities has increased by 4% to 1,78,771 units with sales value rising by 20% to Rs 1,52,552 crore in 2024, according to NSE-listed real estate data analytics firm PropEquity.
The housing sales stood at 1,71,903 units while sales value stood at Rs 1,27,505 crore in 2023.
“The Budget announcements will give a boost to housing demand in tier 2 cities and create opportunities for employment. These include proposals for development of airports, promotion of GCCs, tourism, relaxation on second homes, and more importantly tax exemption on income up to Rs 12 lakh,” said Samir Jasuja, Founder & CEO, PropEquity.
Housing sales rose the most in Coimbatore at 36% and fell the most in Visakhapatnam at 21% in 2024 while Bhubaneswarrecorded the highest growth in sales value at 47% while Nashik recorded 2% decline in sales value.
“The continued focus on infrastructure development like metro rail, highways and expressways will augment the growth in all segments of the real estate sector,” Jasuja said.
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