Nifty Realty index soars 77% in 2023 so far amid residential sales boom; Prestige Estates, Brigade, DLF top gainers

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Also Read: Real estate trends: Will the sector witness a rise in women homebuyers in 2024? Experts decode In just the first nine months of 2023, the total residential property sales value is already 7% higher than the whole of last year, with the top 7 cities seeing inventory worth approx. ₹3,48,776 crore sold in this nine months period, as per data by ANAROCK Property Consultants. Between January and September 2023, approx.

3.49 lakh units were sold in the top 7 cities, against approx. 3.65 lakh units in entire 2022. “The fact that the housing sales value in 9M 2023 exceeded that of the whole of 2022 reflects the increased demand for premium luxury homes this year.

This, along with the fact that average prices in the top cities rose by anywhere between 8-18% this year, makes an apple-to-apple comparison of annual sales values challenging," said Anuj Puri, Chairman - ANAROCK Group. The strong sales momentum indicates that the total value of homes sold in 2023 will cross the ₹4.5 lakh crore mark, which is 38% higher than the total sales value of entire 2022 of ₹3.27 lakh crore. Also Read: NRI contributions to Indian real estate surge over five years, to reach 20% by 2025 “As the final curtain descends in 2023, the real estate industry witnesses an impressive surge, with Gurugram’s mid-housing sector taking center stage.

The year-end reflection unveils a YoY upswing, showcasing a strategic prowess in meeting the escalating demand for affordable yet quality residences," said Pradeep Aggarwal, Founder & Chairman, Signature Global (India) Ltd. Looking ahead to 2024, Aggarwal believes the positive trends set in motion in 2023 reverberate as a promising melody for the entire real estate industry. Shares of Delhi-NCR based