New Delhi, Feb 12 (IANS): Housing sales in India’s top 15 tier 2 cities rose by 4 per cent to 1,78,771 units with sales value rising by 20 per cent to Rs 1,52,552 crore in 2024, a report showed on Wednesday.

The housing sales stood at 1,71,903 units while sales value stood at Rs 1,27,505 crore in 2023, according to data by NSE-listed real estate data analytics firm PropEquity.

Housing sales rose the most in Coimbatore at 36 per cent and fell the most in Visakhapatnam at 21 per cent in 2024, while Bhubaneswar recorded the highest growth in sales value at 47 per cent while Nashik recorded 2 per cent decline in sales value.

“The Budget announcements will give a boost to housing demand in tier 2 cities and create opportunities for employment. These include proposals for development of airports, promotion of GCCs, tourism, relaxation on second homes, and more importantly tax exemption on income up to Rs 12 lakh,” said Samir Jasuja, Founder and CEO, PropEquity.

The continued focus on infrastructure development like metro rail, highways and expressways will augment the growth in all segments of the real estate sector, he mentioned.

Housing sales was led by Surat with 15 per cent rise, followed by Gandhi Nagar 8 per cent, Goa 5 per cent, Ahmedabad 4 per cent, Nagpur 3 per cent.

Sales in the three cities of northern India stood at 18,889 units in 2024 as compared to 18,420 units in 2023, up 2.5 per cent, the report showed.

Housing sales rose by 5 per cent in Jaipur and 1 per cent in Lucknow while it fell by 1 per cent in Mohali. Sales value grew by 39 per cent in Jaipur, 5 per cent in Lucknow and 18 per cent in Mohali.

Housing sales rose 23 per cent in Bhubaneswar and 10 per cent in Bhopal while sales value grew by 38 per cent in Bhopal and 47 per cent in Bhubaneswar, the findings showed.