Residential market sees 9% YoY growth in Q3

In its latest report 'India Real Estate: Residential and Office Q3 2024 (July-September 2024)', Knight Frank India revealed that Mumbai's residential market recorded the highest sales among the eight Indian cities, with 24,222 units sold - a 9% year-on-year (YoY) growth.

- Bhalohandra Chorghade

During the same period, 23,677 new units were launched in the city. The average weighted residential price saw a 6% YoY increase, reaching Rs8,056 per sq ft, the highest in the country.

Mumbai also recorded a 10% YoY growth in the Rs5mn to 10mn ticket size category during Q3 2024, which accounted for 24% of the city's total sales. The under Rs5 mn segment saw the highest volume, with 10,198 units sold, representing 42% of total sales. Meanwhile, the Rs10mn and above category experienced a 16% YoY growth, increasing from 7,018 units in Q3 of 2023 to 8,153 units in Q3 of 2024.