Home sales surge across key cities in India except Kolkata and NCR

According to a recently released report by PropEquity the total absorption or sales of housing units accross ‘Top 7 cities in the country witnessed a surge of 17% resulting in the sale of houses from 165308 units in Jan- Aug 2020 to 199243 units in Jan- Aug 2021. However new home launches fell by 2% from 158102units to 154246units in the same period.
Among these, growth in home sales has been witnessed in Bengaluru, Chennai, Hyderabad, MMR and Pune, during that period. The report highlights that decline in sales has been witnessed by Kolkata and Delhi-NCR respectively. Hyderabad has registered highest increase of 35% in sales with 25716 units from 16645 units earlier. Hyderabad is followed by Pune and Chennai that has witnessed increase of 22% and 27% respectively in sales.
“Traditionally the festive season has been the best time for home purchases across India,” said Samir Jasuja, MD & Founder, PropEquity, adding that COVID-19 vaccination drive has also added to the improvement in the market sentiments.”