Housing gross sales have jumped over two-fold throughout July-September interval at 62,800 items throughout seven main cities on higher demand pushed by low mortgage charges and hiring in IT/ITeS sector, in accordance with property guide Anarock.
Sales of residential properties stood at 29,520 items within the year-ago interval and 24,560 items within the earlier quarter.
The seven cities tracked by Anarock are Delhi-NCR, Mumbai Metropolitan Region (MMR), Chennai, Kolkata, Bengaluru, Hyderabad and Pune.
Housing costs appreciated by 3 per cent throughout the seven cities to Rs 5,760 per sq. toes in Q3 of 2021 calendar yr from Rs 5,600 per sq. toes in Q3, 2020.
“IT/ITeS continues to drive the bulk of housing demand in the top 7 cities,” Anarock Chairman Anuj Puri mentioned.
He attributed the bounce in housing gross sales to improved job safety and sturdy hiring within the IT/ITeS and monetary sectors, together with record-low residence mortgage rates of interest and rising homeownership sentiment.
“The ongoing WFH (Work For Home) culture continues to influence residential sentiment on two major fronts – overall housing demand and unit sizes,” Puri mentioned.
The fast-paced vaccination drive has helped in growing website visits by potential prospects.
As per the info, housing gross sales in Delhi-NCR are estimated to have risen by 97 per cent to 10,220 items in July-September 2021 from 5,200 items within the year-ago interval.
The MMR (Mumbai Metropolitan Region) residential market witnessed over two fold bounce in gross sales to twenty,965 items as towards 9,200 items within the July-September interval of final yr.
Housing gross sales in Bengaluru rose 58 per cent to eight,550 items from 5,400 items through the interval beneath evaluate.
Pune, a key market in Maharashtra, noticed gross sales rising by 100 per cent to 9,705 items from 4,850 items.
Housing gross sales in Hyderabad jumped 4 occasions to six,735 items in Q3, 2021 from simply 1,650 items within the corresponding interval of final yr on elevated provide.
Chennai noticed gross sales of three,405 items, greater than two occasions from 1600 items within the year-ago interval.
Housing gross sales in Kolkata elevated by 99 per cent to three,220 items throughout July-September interval of 2021 calendar yr from 1,600 items within the corresponding interval of the earlier yr.
On provide aspect, the highest seven cities noticed new launches of 64,560 items through the third quarter of this calendar yr, up 98 per cent from 32,530 items in Q3 2020.
Earlier, Anarock had projected housing to extend 30 per cent year-on-year to 1,79,527 items throughout seven cities in 2021 from 1,38,344 items final yr.
In 2019 calendar yr, pre-COVID, housing gross sales stood at 2,61,358 items throughout these seven cities.
