Housing gross sales up 2-fold in Jul-Sep in 7 cities on higher demand: Anarock

Housing gross sales have jumped over two-fold throughout July-September interval at 62,800 items throughout seven main cities on higher demand pushed by low mortgage charges and hiring in IT/ITeS sector, in keeping with property marketing consultant Anarock.

Gross sales of residential properties stood at 29,520 items within the year-ago interval and 24,560 items within the earlier quarter.

The seven cities tracked by Anarock are Delhi-NCR, Mumbai Metropolitan Area (MMR), Chennai, Kolkata, Bengaluru, Hyderabad and Pune.

Housing costs appreciated by 3 per cent throughout the seven cities to Rs 5,760 per sq. ft in Q3 of 2021 calendar 12 months from Rs 5,600 per sq. ft in Q3, 2020.

“IT/ITeS continues to drive the majority of housing demand within the high 7 cities,” Anarock Chairman Anuj Puri stated.

He attributed the soar in housing gross sales to improved job safety and strong hiring within the IT/ITeS and monetary sectors, together with record-low dwelling mortgage rates of interest and rising homeownership sentiment.

“The continuing WFH (Work For House) tradition continues to affect residential sentiment on two main fronts – total housing demand and unit sizes,” Puri stated.

The fast-paced vaccination drive has helped in growing web site visits by potential prospects.

As per the information, housing gross sales in Delhi-NCR are estimated to have risen by 97 per cent to 10,220 items in July-September 2021 from 5,200 items within the year-ago interval.

The MMR (Mumbai Metropolitan Area) residential market witnessed over two fold soar in gross sales to twenty,965 items as in opposition to 9,200 items within the July-September interval of final 12 months.

Housing gross sales in Bengaluru rose 58 per cent to eight,550 items from 5,400 items in the course of the interval beneath overview.

Pune, a key market in Maharashtra, noticed gross sales rising by 100 per cent to 9,705 items from 4,850 items.

Housing gross sales in Hyderabad jumped 4 instances to six,735 items in Q3, 2021 from simply 1,650 items within the corresponding interval of final 12 months on elevated provide.

Chennai noticed gross sales of three,405 items, greater than two instances from 1600 items within the year-ago interval.

Housing gross sales in Kolkata elevated by 99 per cent to three,220 items throughout July-September interval of 2021 calendar 12 months from 1,600 items within the corresponding interval of the earlier 12 months.

On provide aspect, the highest seven cities noticed new launches of 64,560 items in the course of the third quarter of this calendar 12 months, up 98 per cent from 32,530 items in Q3 2020.

Earlier, Anarock had projected housing to extend 30 per cent year-on-year to 1,79,527 items throughout seven cities in 2021 from 1,38,344 items final 12 months.

In 2019 calendar 12 months, pre-COVID, housing gross sales stood at 2,61,358 items throughout these seven cities.

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