Ahmedabad Sees 4% In Housing Sales In Q3 2024: Report

Hyderabad: Ahmedabad witnessed a slight slowdown in new residential project launches during Q3 2024, with approximately 8,700 units entering the market. This represents a 4 per cent decline compared to the previous quarter and a marginal 1 per cent decrease year-on-year, according to a report about the Housing market in Ahmedabad released the Anarock Property Consultants Pvt. Ltd.

West Ahmedabad took the lead in new residential launches during the third quarter of 2024, capturing a substantial 42 per cent market share. This surge surpassed the previous quarter's high launch activity in East Ahmedabad.

As far as sales is concerned, Ahmedabad’s residential market witnessed absorption of nearly 10,300 housing units, signifying a 4 per cent year-on-year increase, a 9 per cent decline was observed on a quarterly basis.

• West Ahmedabad maintained its dominance in Q3 2024, accounting for a significant 35 per cent of total sales

• East Ahmedabad and South Ahmedabad accounted for 20 per cent and 16 per cent of the sales respectively

Available inventory levels in Ahmedabad exhibited a decline both quarterly and annually Ahmedabad's residential real estate market continues its downward trend in terms of available inventory. As of the third quarter of 2024, the city's total residential units on the market for sale stand at approximately 63,000, marking a 3 per cent quarter-over-quarter decline. This trend is further emphasized by a 14 per cent year-over-year reduction, suggesting a robust pace of absorption.