The year 2022 witnessed record-high housing sales and new launches across the top seven cities in the country, according to new data.
The data from real estate services company ANAROCK revealed that unit completions have also remained on top between 2017 till 2022.
Nearly 4.02 lakh homes were completed in the year 2022 in these cities which is about 44 per cent higher than in 2021, when approximately 2.79 lakh homes were completed.
Of the total completed homes in 2022, the highest were in MMR — nearly 1,26,720 units, almost 80 per cent more than in 2021 (when approximately 70,500 units were completed).
In NCR, about the same number of units got completed in 2022 (86,300 units) as in 2021 (86,590 units). Pune saw around 84,200 units completed in 2022, against 46,080 units in 2021.
Similarly, Bengaluru, Hyderabad and Chennai collectively witnessed about 81,580 units completed in 2022, against 63,870 units in 2021.
Kolkata saw approximately 23,190 units completed in 2022, against 11,620 units in 2021.
Anuj Puri, Chairman, ANAROCK Group, said: “2022 was a watershed year for the Indian housing sector, with sales breaching the previous peak levels of 2014. In response to this high demand, developers remained focused on completing their previously launched projects. 2022 saw the highest rate of completions (4.02 lakh units) between 2017 and 2022 across the top seven cities.
“Over 5.44 lakh units are scheduled to be completed across the top seven cities in 2023. Construction activity was, and will hopefully remain, least impacted even if the pandemic resurfaces, so most completions in 2023 may be as per schedule. Certainly, developers are committed to completing previously launched projects before launching new ones.”
As per ANAROCK, ready-to-move-in homes remain squarely on the bestseller list.
After a phenomenal completion rate in 2022, 2023 is poised to be another rocking year as long asAconstruction proceeds as per timeliness and no major headwinds obstruct it.
If construction proceeds unhampered and as per schedule, NCR is likely to see the maximum completions in the year, it said.