Top eight India cities witnessed highest on-year housing sales in 2021
29 Apr 2021
2 Min Read
CW Team
The latest data from real estate data analytics firm, Liases Foras Real Estate Rating and Research, showed that the top eight tier-1 Indian cities recorded a 9% on-year surge in residential sales at 69,697 apartments in the first quarter ended March, led by activity in Mumbai and Pune.
Regarding growth, sales in Chennai witnessed maximum on-year growth of 31%, followed by Pune at 24%, Bangalore at 19%, Hyderabad at 18%, and Mumbai Metropolitan Region (MMR) 7%. The National Capital Region (NCR) witnessed the maximum decline of 8%.
Prices remained stable in tier-1 cities on both sequential and on-year basis. During the quarter, unsold housing stock in tier-1 cities decreased by 7% on-year. Ahmedabad witnessed the maximum decline in unsold stock at 16%, followed by Kolkata 13%, Bangalore 11%, Pune 10%, National Capital Region (NCR) 8%, and Mumbai Metropolitan Region (MMR) 4%, the data showed.
The Covid-19 pandemic and the lockdown in 2020 disrupted the real estate market sharply. However, as lockdown restrictions were lifted, the recovery in home sales started soon after.
The unsold housing stock in major cities declined marginally at 1% from the December quarter and a bigger drop of 7% compared with the year-ago period. As of March 31, there were 915,982 unsold home units in the eight cities.
Ahmedabad, which has 59,649 unsold units, witnessed the maximum reduction in unsold stock (16%) on a year-on-year (yoy) basis.
The weighted average price across all the top cities remained stagnant in the March quarter and saw a marginal 2% increase compared to the year before.
Also Read: Real estate records highest PE investment in five years: Anarock
Also Read: Why housing went through the roof during Covid: Care Ratings
The latest data from real estate data analytics firm, Liases Foras Real Estate Rating and Research, showed that the top eight tier-1 Indian cities recorded a 9% on-year surge in residential sales at 69,697 apartments in the first quarter ended March, led by activity in Mumbai and Pune.
Regarding growth, sales in Chennai witnessed maximum on-year growth of 31%, followed by Pune at 24%, Bangalore at 19%, Hyderabad at 18%, and Mumbai Metropolitan Region (MMR) 7%. The National Capital Region (NCR) witnessed the maximum decline of 8%.
Prices remained stable in tier-1 cities on both sequential and on-year basis. During the quarter, unsold housing stock in tier-1 cities decreased by 7% on-year. Ahmedabad witnessed the maximum decline in unsold stock at 16%, followed by Kolkata 13%, Bangalore 11%, Pune 10%, National Capital Region (NCR) 8%, and Mumbai Metropolitan Region (MMR) 4%, the data showed.
The Covid-19 pandemic and the lockdown in 2020 disrupted the real estate market sharply. However, as lockdown restrictions were lifted, the recovery in home sales started soon after.
The unsold housing stock in major cities declined marginally at 1% from the December quarter and a bigger drop of 7% compared with the year-ago period. As of March 31, there were 915,982 unsold home units in the eight cities.
Ahmedabad, which has 59,649 unsold units, witnessed the maximum reduction in unsold stock (16%) on a year-on-year (yoy) basis.
The weighted average price across all the top cities remained stagnant in the March quarter and saw a marginal 2% increase compared to the year before.
Image Source
Also Read: Real estate records highest PE investment in five years: Anarock
Also Read: Why housing went through the roof during Covid: Care Ratings
Next Story
Blum India brings Design Reverie to Hyderabad
Blum India hosted the Hyderabad edition of its signature event, Design Reverie, at the historic Taj Falaknuma Palace, making it a memorable evening for the city鈥檚 architecture and interior design community. As per news reports, the event combined modern design sensibilities with the grandeur of a palace setting and the spiritual charm of Sufi qawwali.This marked the third edition of the event, after previous gatherings in Delhi and Bangalore. In Hyderabad, the focus was on fostering relaxed yet meaningful dialogue among design professionals鈥攁way from the typical conference setup. The eveni..
Next Story
Hafele launches Platinum Studio in Nagpur
Hafele has expanded its franchise footprint in central India by opening a new Studio Partner Platinum showroom in Nagpur in collaboration with Onkar Furnitech. The studio was inaugurated by Nitin Gadkari, Minister of Road Transport and Highways, along with Padma Gupta, Director 鈥� HR & Customer Experience, Hafele South Asia.Located at Sarthak Plaza, South Ambazari Road, Laxmi Nagar, the showroom offers an immersive experience of Hafele鈥檚 wide-ranging interior and home solutions. Designed as a hands-on, real-life application space, the studio showcases Hafele鈥檚 full portfolio鈥攊ncludi..
Next Story
Truflo by Hindware wins GPTW honour again
Truflo by Hindware has been certified a Great Place to Work for the fourth consecutive year, reaffirming its commitment to a people-first culture. The certification was awarded by the Great Place to Work Institute following a rigorous evaluation of employee experience, leadership, culture, and HR practices.Known as India鈥檚 fastest-growing plastic pipes and fittings company, Truflo has focused on fostering an inclusive, innovative, and growth-driven work environment. The company prioritises employee well-being and professional development, creating a culture where people feel valued and empow..
