New And Resale Property Listings On Magicbricks Nearly Equal In December Quarter
Among 13 cities, new properties in Gurugram constituted 63.1% of listings, indicating a notable rise in new supply.
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Share of new and resale properties listed on real estate classifieds platform Magicbricks was almost equal during the December 2024 quarter.
In a statement on Tuesday, Magicbricks said that during the October-December period of 2024, 50.9% of listed properties across 13 major cities comprised new inventory, including builder floors, under-construction homes and independent houses.
The remaining 49.1% represented resale properties owned by individuals.
Among 13 cities, new properties in Gurugram constituted 63.1% of listings, indicating a notable rise in new supply.
In Ahmedabad, new properties contributed 43.1% to the total listing on Magicbricks while resale units 56.9%.
New properties in Bengaluru accounted for 58.9% to the listing, while the same in Chennai stood at 59.4%, Hyderabad 43.4%, Kolkata 45.4%, Mumbai 56.3%, Navi Mumbai 39.35%, Thane 35.54% and Pune 53%.
In the national capital region, the listing of new properties was only 29.3% and Noida 34.7%.
Greater Noida, however, had 52% listing of new properties.
