'Housing sales up 33% to 4.11 lakh units, new supply at record 5.17 lakh last year in top 8 cities'

According to the latest report by PropTiger, India's top eight residential markets saw a significant increase in housing sales in 2023. The total number of units sold rose by 33% compared to the previous year, reaching nearly 4.11 lakh units. This represents a substantial growth in demand for housing in these markets.

In addition to the rise in sales, new supply also grew in these top eight cities. New residential projects were launched at a record high of 5.17 lakh units in 2023, which is a 20% increase compared to the previous year. This indicates that developers are responding to the growing demand for housing by increasing the supply of new properties.

It's worth noting that the top eight cities mentioned in the report include Mumbai, Delhi-NCR, Bengaluru, Hyderabad, Chennai, Kolkata, Pune, and Ahmedabad. These cities are known for their strong economic growth, increasing population, and growing middle class, which have contributed to the demand for housing in these areas.

Overall, the report suggests that the housing market in India's top eight cities is experiencing a robust growth, with both sales and new supply increasing significantly in 2023. This trend is likely to continue in the future as more people move to urban areas in search of better job opportunities and living conditions.