A quarter of the total apartments were bought by non-resident Indians.
This follows another such project in Gurugram seeing an inflow of ₹8,000 crore from buyers in quick time last year.
"Such a volume of sales doesn't happen in two or three days if the interest is only from those buying to stay in the apartment.
This shows investors are coming back in good numbers," said a senior property consultant who did not want to be named.
Developers, consultants and PE funds say investor interest in the real estate market has picked up in the last few quarters as residential property prices have gone up.
Depending on the market, as much as 15% of the total sales consist of investors, experts said. Investors had mostly stayed away from the market for the last nine years, as prices stagnated in the top markets.
Residential sales touched a decadal high in 2023, with a 31% growth in the top seven cities, as per Anarock Property Consultants.
According to one consultant, investors are buying properties mostly below ₹1.5 crore and investor activity is on the higher side in Hyderabad and the National Capital Region. But it is moderate in Mumbai and lowest in Bengaluru.
Anarock, said the surge in demand for certain under-construction projects, which offer cost arbitrage, makes it evident that investors are back in the sector.
Latest Anarock research shows that over 40% of nearly 477,000 houses sold in 2023 in the top seven cities were in newly launched projects, he said.
Denne historien er fra January 22, 2024-utgaven av Financial Express Mumbai.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Denne historien er fra January 22, 2024-utgaven av Financial Express Mumbai.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
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