Housing sales up 11% in FY24 in top 30 Tier-II cities: PropEquity

Rise in housing demand is not restricted to major cities as sales of residential properties rose 11 per cent last fiscal across 30 Tier II towns to nearly 2.08 lakh units, according to PropEquity.

Real estate data analytic firm PropEquity on Friday released a report on Tier II cities' housing market.

The data showed that housing sales increased 11 per cent to 2,07,896 units in 2023-24 as against 1,86,951 units in the preceding financial year.

Top 10 Tier II cities -- Ahmedabad, Vadodara, Surat, Nashik, Gandhi Nagar, Jaipur, Nagpur, Bhubaneshwar, Visakhapatnam and Mohali-- contributed 80 per cent to the total sales in 30 small towns.

These 10 cities together clocked sales of 1,68,998 residential units in 2023-24, up 11 per cent from 1,51,706 homes in 2022-23.

The other 20 Tier II cities are Bhopal, Lucknow, Goa, Coimbatore, Raipur, Vijayawada, Indore, Kochi, Trivandrum, Mangalore, Guntur, Bhiwadi, Dehradun, Ludhiana, Chandigarh, Agra, Mysore, Sonepat, Panipat and Amritsar.

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