Home sales across top 7 cities up
Sales of housing units rose by 21 percent across ...
Sales of housing units rose by 21 percent across top seven cities in India in the first quarter of 2021 to 1,05,183 units against 87,236 units in Q1 2020, according to a PropEquity report. However, the new supply or launches of housing units decreased by 40 per cent in the same period to 59,737 units in Q1 2020 as against 1,00,343 units.
Bengaluru, Chennai, Hyderabad, MMR, NCR, and Pune are the cities where home sales witnessed a growth in Q1 2021 versus Q1 2020 at 13 per cent, 29 per cent, 16 per cent, 26 per cent and 6 per cent, respectively. Only Kolkata witnessed a downfall of 20 per cent in home sales during the same period. “Beginning of Q1 was relatively better for Indian realty as compared to last year and there was higher demand in ready to move in units and the projects nearing completion. However, the second wave of Covid will lead to muted demand going forward and we expect sales to pick up post the second wave of Covid ending which should be around Q3 or Q4 onwards,” Founder and Managing Director Samir Jasuja said.