Housing sales up 71% to 236,530 units in 2021 in top-seven cities | Business Standard News

Clipped from: https://www.business-standard.com/article/economy-policy/housing-sales-up-71-to-236-530-units-in-2021-in-top-seven-cities-122010200284_1.html

The demand fell short of pre-Covid levels

Construction, workers, housing, residential property

Housing sales across top seven cities rose 71 per cent year-on-year in 2021 to 2,36,530 units, but demand fell short of pre-Covid levels by 10 per cent, according to Anarock.

Housing sales stood at 1,38,350 units in 2020 and 2,61,358 units in the 2019 calendar year.

Mumbai-based Anarock attributed the rise in housing sales to very low interest rates on home loans, pent-up demand, surge in aspiration for home ownership, cut in stamp duty by a few states including Maharashtra and discounts offered by builders.

The fourth quarter contributed nearly 39 per cent to overall sales during the last year, on festive demand and other positive factors.

According to the Anarock annual data, housing sales in Mumbai Metropolitan Region (MMR) rose 72 per cent to 76,400 units in 2021 from 44,320 units in the previous year.

Sales in Hyderabad jumped nearly three-folds to 25,410 units last year from 8,560 units during 2020.

Delhi-NCR witnessed 73 per cent rise in sales to 40,050 units in 2021 from 23,210 units in 2020.

Housing sales in Pune increased by 53 per cent to 35,980 units in 2021 from

23,460 units in 2020.

Bengaluru saw 33 per cent increase in sales to 33,080 units in 2021 from 24,910 units in the previous year.

Housing sales in Chennai were up 86 per cent to 12,530 units in 2021 from

6,740 units in 2020.

In Kolkata, sales increased to 13,080 units in 2021 from 7,150 units in 2020.

“Extrapolating on the performance in 2021, 2022 will see very satisfactory growth as long as the coronavirus pandemic remains in check in India,” Anarock Chairman Anuj Puri said.

He hoped sales to reach pre-COVID level in 2022 and noted that demand would further consolidate towards trusted developers.

“Input cost pressure and supply chain issues may induce a 5-8 per cent increase in property prices,” Puri pointed out.

On supply side, Anarock said that new launches increased 85 per cent to 2,36,700 units across these seven cities in 2021 as against 1,28,000 units in the previous year.

The new launches have reached pre-pandemic 2019 levels.

In 2019, new launches stood at 2,36,570 units.

In the MMR market, new launches rose 88 per cent to 56,880 units in 2021 from 30,290 units in the previous year.

New launches in Hyderabad jumped over two-folds to 51,470 units in 2021 from 21,110 units in the previous year.

The Delhi-NCR market saw 71 per cent increase in fresh housing supply at 31,710 units in 2021 from 18,530 units in 2020.

The new launches in Pune went up 67 per cent to 39,870 units in 2021 as against 23,920 units in the previous year.

Bengaluru witnessed 43 per cent rise in new home launches to 30,650 units in 2021 from 21,420 units in the previous year.

The new launches in Kolkata jumped nearly four times to 13,750 units in 2021 from 3,530 units in the previous year.

Chennai saw a 35 per cent increase in new launches to 12,370 units in 2021 as against 9,170 units in the previous year.

Anarock, which is one of the leading housing brokerage firms in the country, had clocked an 18 per cent growth in its revenue at around Rs 305 crore during the 2020-21 financial year.

It is targeting Rs 450 crore turnover during this fiscal year.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s