Sales of residential properties across eight major cities grew 44 per cent in the January-March period this year to nearly 72,000 units as demand recovered, according to Knight Frank India. Mumbai Metropolitan Region (MMR) and Pune performed well on the back of the Maharashtra government s decision to reduce stamp duty. 71,963 units were sold during Q1 2021, 44 per cent more than in Q1 2020. This healthy growth in sales also encouraged developers to launch new projects which are reflected in the 76,006 units launched during the quarter, substantial growth of 38 per cent year-on-year, Knight Frank India said in a statement. As per the data of sales bookings in primary residential markets of eight major cities, housing sales in Mumbai rose 49 per cent year-on-year to 23,752 units in January-March 2021.
Housing sales up 44% in Jan-Mar 2021 across 8 cities: Report
Mumbai Metropolitan Region (MMR) and Pune performed well on the back of the Maharashtra government s decision to reduce stamp duty.
Housing sales in Mumbai grow 3-fold in March 2021
Mike
Sales of residential properties across eight major cities grew 44 per cent in the January-March period this year to nearly 72,000 units as demand recovered, according to Knight Frank India.
Mumbai Metropolitan Region (MMR) and Pune performed well on the back of the Maharashtra government s decision to reduce stamp duty. 71,963 units were sold during Q1 2021, 44 per cent more than in Q1 2020. This healthy growth in sales also encouraged developers to launch new projects which are reflected in the 76,006 units launched during the quarter, substantial growth of 38 per cent year-on-year, Knight Frank India said in a statement.
Housing sale yet to reach pre-Covid levels: Report
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Comparing sales in January 2021 vs January 2020, it also dropped by 6% from 36,342 units to 34,149 units indicating downfall in a year ago period as well.
AFP
According to the report, new launches witnessed a decrease of 44% to 1,195 units from 2,148 units in Bengaluru
Sales of housing units in Delhi/NCR and Chennai increased by 42% and 3% respectively in January 2021 from December 2020, according to a report by PropEquity, real estate data, research and analytics firm.
2059 units were sold in Delhi-NCR in December 2020, which increased up to 2930 units in January 2021.
In Chennai, the number of units sold was 1,535 in December 2020 which later went up to 1,584 units in January 2021.
Housing projects offered fewer studio apartments in 2020 due to the coronavirus pandemic, reversing growth in the segment, said a study on Thursday. Of the 884 projects launched in 2020 in seven major cities, 130 offered studio apartments (a 15 per cent share). As many 1,921 projects in 2019 offered 368 (19 per cent share) studio apartments, said Anarock Property Consultants. A studio apartment has a single large room that doubles up as a living room, bedroom and a kitchenette. “The studio apartments trend so far can be clearly plotted. Out of the total 2,102 projects launched in 2013 in the top 7 cities, just 75 projects (or 4 per cent) offered studio apartments. The share increased to 5 per cent in 2014, followed by a y-o-y increase in the overall share of projects offering this configuration.
NEW DELHI: Housing sales in volume terms is likely to decline 34 per cent this fiscal because of the Covid-19 pandemic but demand is expected to rise in 2021-22 from a weak base, according to India Ratings and Research.
The agency expects the residential real estate sector to stage a sharp K-shaped recovery in the next financial year. The overall floor space sold is likely to increase by 30 per cent YoY (year-on-year) in FY22 after a 34 per cent YoY decline in FY21, it said in a statement.
The agency emphasised that the overall sales in FY22 could still be around 14 per cent below FY20 level.