Post-pandemic revival: Housing sales in top seven cities rebound in Q3; still lower than pre-Covid level

By: |
September 30, 2020 6:15 AM

According to Anarock Property Consultants, Mumbai Metropolitan Region (MMR), Bengaluru, National Capital Region (NCR) and Pune altogether accounted for 84% sales in the July-September quarter.

MMR saw the most sales of 9,200 units, followed by Bengaluru with 5,400 units, NCR with 5,200 units and Pune with 4,850 units.MMR saw the most sales of 9,200 units, followed by Bengaluru with 5,400 units, NCR with 5,200 units and Pune with 4,850 units.

The top seven cities in India witnessed housing sales of about 29,520 units over July to September 2020, as against the 45,200 units sold in the pre-Covid-19 quarter of January-March. However, sales have improved substantially and have more than doubled compared to the preceding quarter of April-June, when the pandemic had brought sales down to just 12,730 units.

According to Anarock Property Consultants, Mumbai Metropolitan Region (MMR), Bengaluru, National Capital Region (NCR) and Pune altogether accounted for 84% sales in the July-September quarter. MMR saw the most sales of 9,200 units, followed by Bengaluru with 5,400 units, NCR with 5,200 units and Pune with 4,850 units.

In terms of new launches, the top seven cities witnessed supply of nearly 32,530 units in Q3 2020 as against 41,220 units in Q1 2020, reaching over 79% of the pre-Covid-19 quarter levels. Cities like Hyderabad, Kolkata and NCR saw new supply increase during the quarter as against the first quarter of 2020. Most new launches in the quarter happened virtually.

Hyderabad, Kolkata and NCR saw their new supply increase by 45%, 24% and 10% respectively during the period. The affordable and mid segments priced up to `80 lakh comprised around 72%, or 23,290 units, of the total new supply between July-September.

Unsold inventory in the top cities shrunk by about 3% on a yearly basis, from 6.56 lakh units back in Q3 2019 to 6.36 lakh units in Q3 2020. It reduced by 1% between Q1 2020 and Q3 2020.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Jio Platforms, Qualcomm successfully test 5G solutions, clock over 1 Gbps speed in trials
2Fraud attempts against businesses in India doubled in lockdown: Report
3Motherson Sumi inks pact to acquire Bombardier’s Mexico-based electrical wiring biz for $10 mn