Indian residential market records 9 year-high sales volume; Chennai records 21% YoY rise in residential units: Knight Frank India

Indian residential market records 9 year-high sales volume of 158,705 housing units in H1 2022 Mumbai, July 06, 2022: In their latest report, Knight Frank India noted that the residential sector has recorded a 9-year high in the sales volume in H1 2022 (January – June 2022). The residential sector saw an annual growth of 60% in H1 2022 to 158,705 housing units across top eight cities in the country from 99,416 in H1 2021.The previous high was recorded in H1 2013 of 185,577 units. At an 8-year high for any half-year period, new home unit launches witnessed an addition of 160,806 units in H1 2022marking arise of 56%Year on Year (YoY) from103,238 units in H1 2021.The strong uptick in sales also brought the Quarters to sell (QTS) level down to 7.8 quarters from 10.9 quarters in H1 2021. Mumbai (44,200), National Capital Region (29,101) and Bengaluru (26,677) were the leading residential sales performers in H1 2022.NCR and Ahmedabad witnessed the highest home sales (in terms of percent...