Home gross sales up 21% in Q1 2021: PropEquity Study
Despite the Covid-19 pandemic disruptions and the following lockdown, residence gross sales, nonetheless, continues to see surge in quarter certainly one of 2021. In a report launched by PropEquity, actual property knowledge, analysis and analytics agency, gross sales or absorption of housing models rose by 21% throughout prime 7 cities in India within the first quarter of 2021 to 1,05,183 models versus 87,236 models in Q1 2020.
However, the brand new provide or launches of housing models decreased by 40% in the identical interval to 59,737 models from Q1 2020 at 1,00,343 models, the report mentioned
Bengaluru, Chennai, Hyderabad, Mumbai and Mumbai Metropolitan Region (MMR), National Capital Region (NCR) and Pune are the cities the place residence gross sales witnessed a development in Q1 2021 versus Q1 2020 at 13%, 29%, 16%, 26% and 6% respectively. Only Kolkata witnessed a downfall of 20% in residence gross sales throughout the identical interval.
“Beginning of Q1 was comparatively higher for Indian realty as in comparison with final yr and there was increased demand in prepared to maneuver in models and the initiatives nearing completion. However, the second wave of COVID will result in muted demand going ahead and we anticipate gross sales to choose up put up second wave of COVID ending which needs to be round Q3 or This autumn onwards,” mentioned Samir Jasuja, founder and managing director at PropEquity.
Cities Snapshot:
View Full PictureMint
Bengaluru
India’s IT capital noticed an increase of 13% in residence gross sales in Q1 2021 at 12,263. New Launches decreased by 40% at 8,492 models.
Chennai
Chennai noticed a 29% improve in residence gross sales in Q1 2021 and new launches decreased by 8% to 4044 models.
Hyderabad
Home gross sales witnessed a rise of 16% in Q1 2021 at 10,964 models with new launches fell by 44% to eight,826 models.
Kolkata
Surprisingly, Kolkata noticed a lower of 20% in residence gross sales in Q1 2021 at 3,682 models with new launches falling by 57% to 1,427 models.
Mumbai and Mumbai Metropolitan Region (MMR)
The City of Dreams noticed a rise of 26% in residence gross sales within the first quarter at 41,323 models, whereas new launches fell by 48% to twenty,269 models.
National Capital Region (NCR)
Only NCR witnessed a rise in each residence gross sales and new launches by 6% and 136% respectively in Q1 2021.
Pune
Pune witnessed an increase of 31% in gross sales or absorption and downfall of 41% in new launches at 12,872 models in Q1 2021.
Subscribe to Mint Newsletters * Enter a legitimate electronic mail * Thank you for subscribing to our e-newsletter.
Never miss a narrative! Stay linked and knowledgeable with Mint.
Download
our App Now!!
