According to data analysis firm PropEquity, residential sales in the seven major cities grew by 21 percent during January-March 2021, while new supply declined by 40 percent year-on-year. However, housing demand is expected to be sluggish in the April-June quarter due to the second wave of the Kovid-19 epidemic.
According to PropEquity, sales of housing units in seven cities grew by 21 percent to 1,05,183 units in the first quarter of calendar year 2021 from 87,236 units in the year-ago period. According to the report, during this period, new supply or offer of housing units fell by 40 percent to 59,737 units from 1,00,343 units.
reporting period saw a rise in residential sales in Bengaluru, Chennai, Hyderabad, Mumbai Metropolitan Region (MMR), Delhi-NCR and Pune, while Kolkata saw a 20 percent drop. I. PropEquity founder and managing director Sameer Jasuja said the first quarter of this calendar year was relatively better for Indian realty than the previous year.
“There was a high demand for ready-to-live houses or substantially completed projects,” he said. However, demand will decrease due to the second wave of Kovid. ”Jasuja hoped that sales would pick up after the second wave of Kovid was over.
