of housing transactions in the last 4 years

Delhi has trumped Mumbai when it comes to the total number of houses sold over the last four years, with the national capital witnessing sales of 1.34 lakh units in 2022 compared to 74,943 houses in Mumbai, an analysis has shown. In percentage terms, housing sales in Delhi were 78.8 percent higher than in Mumbai.

Data shared by CRE Matrix Research showed that sales figures in Delhi in 2021 and 2022 were more than in pre-Covid times. In 2019, 1.15 lakh houses were sold, while in 2020, it was 73,777. This number touched 1.23 lakh in 2021 and 1.34 lakh in 2022.

In Mumbai, the number of houses sold came in at 48,654 in 2019, 46,368 units in 2020, 77,677 units in 2021, and 74,943 units in 2022, the data showed.

Data for Delhi included sales in Delhi NCT only and not Gurgaon and Noida. Mumbai data included sales in Mumbai city and Mumbai suburban only. It did not include Thane and Navi Mumbai. Sales included both primary and secondary. This increase in sales indicates that post-pandemic there has been a realisation among prospective buyers, and fence-sitters of the benefits of buying a house compared to renting one. Stamp duty cuts also helped fuel demand. In terms of value, the most expensive house transacted in Mumbai in 2019 was valued at Rs 96 crore and in Delhi it was Rs 520 crore, in 2020, Rs 95 crore in Mumbai and Rs 143 crore in Delhi, in 2021, Rs 1,001 crore in Mumbai and Rs 253 crore in Delhi, and in 2022, it was Rs 144 crore in Mumbai and Rs 265 crore in Delhi, the data showed.

“This is the first time anyone has compared housing sales using IGR data between Mumbai and Delhi. The data shows that housing sales per year in Delhi are nearly 70 percent higher than in Mumbai. This is because anecdotal evidence shows Delhiites have a greater affinity to owning houses compared to those in Mumbai,” said Abhishek Kiran Gupta – CEO and Co-founder of CRE Matrix and IndexTap.com