Home sales, office leasing see new highs in 2024
Residential sales in the top 8 cities of India was a little over 3.5 lakh units in 2024, up 7% on year, according to Knight Frank India. Launches of new houses rose 6% to over 3.7 lakh units.
Home sales were at a 12 year high.
The growth in sales was led by Kolkata, Ahmedabad, Hyderabad and Mumbai. At nearly 96,200 units Mumbai accounted for 27 per cent of the sales followed by the National Capital Region with over 57,600 units.
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Office leasing in 2024 across top 8 cities rose a fifth to a record 72 million square feet, the Knight Frank report showed. New office completions rose 17% to 50.3 msf.
Office absorption surpassed the previous peak seen in 2019 by 19 per cent. Office leasing was led by Bengaluru followed by NCR.
