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Time of India
8 hours ago
- Business
- Time of India
House sales in tier-II cities sales dip 8%, but value rises 6% in Q1 2025: PropEquity report
Representative AI image NEW DELHI: Housing sales in India's tier-II cities witnessed a mixed performance during the January-March quarter of 2025, with a decline in volume but an increase in value, according to data from real estate consultancy PropEquity, as reported by PTI. A total of 43,781 housing units were sold across 15 tier-II cities in Q1 2025, marking an 8 per cent drop from 47,378 units in the corresponding period last year. However, the overall transaction value rose 6 per cent to Rs 40,443 crore, up from Rs 38,102 crore a year ago. The analysis covered cities including Ahmedabad, Surat, Vadodara, Gandhinagar, Nashik, Nagpur, Goa, Lucknow, Jaipur, Mohali, Visakhapatnam, Kochi, Coimbatore, Bhopal, and Bhubaneswar. Explaining the contrasting trends, PropEquity Founder and CEO Samir Jasuja said, 'The lesser supply in March quarter resulted in lower sales in tier 2 cities. State capitals performed relatively better.' He added that demand continues to be supported by improvements in infrastructure. Jasuja also pointed to monetary policy as a potential driver for future growth. 'RBI has made 50 basis points cut in repo rate since January 2025 and is expected to cut rates further. As this gets transmitted by banks, home loans will decline going forward thereby giving a boost to housing demand,' he said. A mong the cities, Lucknow led with a 25 per cent year-on-year increase in units sold at 1,301, followed by Coimbatore (21 per cent), Gandhinagar (18 per cent), and Mohali (2 per cent). In contrast, 11 cities saw a fall in sales, with Visakhapatnam registering the steepest decline at 37 per cent. Ahmedabad, the largest among the surveyed markets, saw a marginal 1 per cent dip in sales volume to 14,583 units. However, the total value of transactions in the city rose 7 per cent to Rs 13,565 crore, compared to Rs 12,730 crore in the same quarter last year. NeoLiv Founder and CEO Mohit Malhotra said tier-II cities are increasingly becoming prominent housing markets. "Tier-II cities are rapidly emerging as prominent housing markets, driven by expanding corporate presence, employment opportunities, and aggressive infrastructure development. These cities are witnessing a transformation fuelled by strategic public and private investments. This has led to a surge in demand and property prices across various micro-markets," he said. Royal Green Realty Managing Director Yashank Wason also noted the growing appeal of emerging markets. 'As metropolitan regions face saturation, these cities offer a compelling blend of opportunity and lifestyle, positioning them at the forefront of India's next real estate growth wave,' he said, naming Indore, Sonipat, and Rohtak among those benefiting from rapid infrastructure development. VS Realtors Founder Vijay Harsh Jha expressed optimism about the future of tier-II housing markets. He said the current decline in sales is temporary and anticipated strong economic growth, along with lower home loan rates, will revive demand. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
India Gazette
14 hours ago
- Business
- India Gazette
Housing sales in top tier 2 cities fall 8%, sales value up 6% in Q1 2025: PropEquity
New Delhi [India], June 1 (ANI): Housing sales in India's top 15 tier 2 cities fell by 8 per cent to 43,781 units in Q1 2025 as compared to 47,378 units in the same period last year, said a report by NSE-listed real estate data analytics firm PropEquity. The sales value during the quarter, however, rose by 6 per cent to Rs 40,443 crore in Q1 2025 as against Rs 38,102 crore in the same period last year, the PropEquity report noted. According to the report, Lucknow with 25 per cent increase in number of units sold in Q1 2025 at 1,301 units registered the highest growth amongst top 15 tier 2 cities. This was followed by Coimbatore 21 per cent, Gandhi Nagar 18 per cent, and Mohali 2 per cent. Other 11 cities saw decline in number of units sold in Q1 2025 with Visakhapatnam registering the highest decline (37 per cent) and Ahmedabad and Goa recording the least decline (1 per cent each). Coimbatore with 52 per cent growth saw the highest increase in sales value at Rs 1,120 crore in Q1, 2025. This was followed by Lucknow at 48 per cent, Gandhi Nagar 36 per cent, Mohali and Goa at 17 per cent each, Ahmedabad and Bhubaneshwar at 7 per cent each and Kochi 5 per cent. Other 7 cities saw a decline in sales value in Q1 2025 with Visakhapatnam recording the highest decline (35 per cent) and Vadodara and Nagpur registering the least decline (1 per cent each). Samir Jasuja, Founder and CEO, PropEquity said, 'The decline in sales in tier 2 cities in January-March period is in line with trends witnessed in tier 1 cities. However, lesser supply in this quarter resulted in lower sales in tier 2 cities. State Capitals performed relatively better.' 'Demand in tier 2 cities, however, remains robust as people have shown greater preference for organised living. Urban rejuvenation efforts, improved connectivity and social infrastructure, and more importantly greater employment opportunities mainly in IT and new manufacturing hubs in tier 2 cities have further accelerated demand not only from within but also from people who have migrated to metro cities and are preferring to purchase property in their hometowns. RBI has made 50bps cut in repo rate since January 2025 and is expected to cut rates further. As this gets transmitted by banks, homes loans will decline going forward thereby giving a boost to housing demand,' Jasuja added. The six State Capitals in top 15 tier 2 cities, namely Gandhi Nagar, Jaipur, Bhubaneshwar, Lucknow, Goa and Bhopal, saw 5 per cent decline in sales and 17 per cent increase in sales value, accounting for 25 per cent of sales and 30 per cent of sales value in Q1 2025, as per the PropEquity report. (ANI)
Time of India
16 hours ago
- Business
- Time of India
Value of homes sold in India's top 15 tier 2 cities increased by 6% in Q1 202
Value of homes sold in India's top 15 tier 2 cities has increased by 6% to Rs 40,443 crore in Q1 2025 as against Rs 38,102 crore in the same period last year. According to NSE-listed real estate data analytics firm PropEquity, Lucknow with 25% increase in number of units sold in Q1 2025 at 1301 units registered the highest growth amongst top 15 tier 2 cities. This was followed by Coimbatore 21%, Gandhi Nagar 18% and Mohali 2%. Overall, the sale fell by 8% to 43,781 units in Q1 2025 as compared to 47,378 units in the same period last year. 'The decline in sales in tier 2 cities in January-March period is in line with trends witnessed in tier 1 cities. However, lesser supply in this quarter resulted in lower sales in tier 2 cities. State Capitals performed relatively better,' said Samir Jasuja, Founder and CEO, PropEquity. Other 11 cities saw decline in number of units sold in Q1 2025 with Visakhapatnam registering the highest decline (37%) and Ahmedabad and Goa recording the least decline (1% each). Coimbatore with 52% growth saw the highest increase in sales value at Rs 1120 crore in Q1, 2025. This was followed by Lucknow at 48%, Gandhi Nagar 36%, Mohali and Goa at 17% each, Ahmedabad and Bhubaneshwar at 7% each and Kochi 5%. Other 7 cities saw a decline in sales value in Q1 2025 with Visakhapatnam recording the highest decline (35%) and Vadodara and Nagpur registering the least decline (1% each). 'Demand in tier 2 cities, however, remains robust as people have shown greater preference for organised living. Urban rejuvenation efforts, improved connectivity & social infrastructure, and more importantly greater employment opportunities mainly in IT and new manufacturing hubs in tier 2 cities have further accelerated demand not only from within but also from people who have migrated to metro cities and are preferring to purchase property in their hometowns,' Jasuja said. The six State Capitals in top 15 tier 2 cities, namely Gandhi Nagar, Jaipur, Bhubaneshwar, Lucknow, Goa and Bhopal, saw 5% decline in sales and 17% increase in sales value, accounting for 25% of sales and 30% of sales value in Q1 2025.
Indian Express
3 days ago
- Business
- Indian Express
Prices of flats along Delhi's Dwarka Expressway doubled in the last 5 years: report
Prices of flats on the Dwarka Expressway, which connects Dwarka in Delhi to Kherki Daula Toll Plaza in Haryana's Guragaon, have doubled in the last five years — from Rs. 9,434 per square feet in 2020 to Rs. 18,668 per square feet in 2024 — according to a report by real estate data analytics firm PropEquity. The report said as many as 15,994 units were launched in the same period, and 16,502 were purchased. It added that 74 per cent of the flats on the Dwarka Expressway in the last five years came in Sectors 113, 37D, 106, 111, and 103. 'Between 2025 and 2030, over 18,000 units are expected to be launched, and over 15,500 units are expected to be absorbed on the Dwarka Expressway, reinforcing sustained future demand,' Samir Jasuja, Founder and CEO, PropEquity, said. Jasuja also said that 4-bedroom apartments have dominated the market in the last five years, with a price range of Rs 4.8 crore to Rs 8.6 crore According to PropEquity, 42,816 units were available in Dwarka Expressway between 2010-2024, and the number of units sold during this period stood at 41,899. 'With a robust land bank of 53 acres, Signature Global has recently launched over 3 million square feet here, and we have a strong upcoming pipeline of 6.4 million sq ft of saleable area in this location,' Pradeep Aggarwal, Founder and Chairman, Signature Global, said. The 29-km Dwarka Expressway, also called Northern Peripheral Road, was proposed in 2006 by the Haryana Government as an alternative route to National Highway-48, connecting Delhi with Gurgaon. Initially slated to be an 18 km project, 14 km of the expressway was operationalised in 2016. Later, the National Highways Authority of India (NHAI) took over the project, reworked the alignment and categorised it as a National Highway (NH-248BB). The foundation stone was laid in 2019, and 19 km of the Gurgaon stretch was inaugurated in 2024 by Prime Minister Narendra Modi. This 8-lane elevated expressway connects Shiv Murti on NH-48 to Dwarka and terminates at Kherki Daula Toll Plaza in Gurgaon, thereby reducing the travel time between cities, IGI Airport, workplaces and entertainment hubs.
Time of India
25-05-2025
- Business
- Time of India
Prices of properties off Dwarka Expressway double in 4 years: Report
Gurgaon: Driven by rapid infrastructure development and improved connectivity, Dwarka Expressway has seen a sharp rise in real estate activity and property values over the last four years. Sectors 113, 37D, 106, 111 and 103 have emerged as key hotspots, contributing to 74% of the supply in the last four years, according to a study. Launch prices nearly doubled — from Rs 9,434 per sqft in 2020 to Rs 18,668 per sqft in 2024 — reflecting the expressway's emergence as one of NCR's most desirable housing destinations, the report says. The corridor saw launches and strong absorption, with demand particularly high for 4BHK apartments priced between Rs 4.8 crore and Rs 8.6 crore. "The 2020–24 period marked a revival for Dwarka Expressway," says Samir Jasuja, founder and CEO of real estate data analytics firm PropEquity, which has conducted the study. Between 2020 and 2024, 15,994 housing units were launched along the corridor, with 16,502 units having been absorbed, indicating robust demand, according to the recent report. Jasuja said, "Over 18,000 new units are expected to be launched between 2025 and 30, reinforcing its long-term potential." by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like サントリーロコモアが５,９４０→１,０８０円で試せる ロコモア こちらをクリック Undo These micro-markets are witnessing increased buyer traction due to their proximity to infrastructure projects and the availability of premium residential stock. Founder & chairman, Signature Global, Pradeep Aggarwal said, "From Sector 37D to SPR, Dwarka Expressway is fast becoming the centre of gravity for NCR real estate. In the next five years, we expect 40-60% price appreciation driven by new infrastructure and high-end offerings." Whiteland Corporation director Sudeep Bhatt echoed the sentiment, "With the expressway operational and metro plans underway, Dwarka Expressway is now seen as a long-term investment zone. "
