Indian Real Estate Recovering At A Fast Pace With Housing Sales Up 51% In Fourth Quarter

Real Estate has been an ever growing sector with ups and downs. The property buying is a dream for everyone at least once a lifetime. Realty sector is one of the largest sectors that contribute to the economy. In the recent times it can be seen that Mumbai becomes the largest sales contributor for the quarter October-December. This location has added up to 23% to the overall sales while Delhi-NCR makes up to 20% of the total.

Read Also: Godrej Buy 33 Acre of Land in Bannerghatta Road Bangalore

Though in the beginning of the year, the unfortunate landing of the pandemic Covid-19 had severely impacted every sector of the industry. And no doubt that the real estate was hardly hit. The sales declined and the construction stopped because of the lack of labor. But gradually, it was observed that the sales count recovered from the impact. The last three months i.e. October to December are the witness of 51% increase in the sales in the residential sector as compared to the July to September 2020 sales.

Read also: Top 10 Best Luxury Apartments in Gurgaon

Read Also: Buy Residential and Commercial Property in Noida

Read Also: Birla Sector 150 Noida

Read Also: M3M Sector 128 Noida

As per the reports by the JLL India, there was an upward rise in the sales number in the seven key residential markets. These improvements have added much to the economy to revive itself from the damage cause by the pandemic. Highest contributor to sales in quarter October-December – Mumbai with 23% rise and Delhi-NCR has accounted for 20%. Pune had the maximum uplift in the sales activity compared to the third quarter at 147% with 3,323 units sold in all.

Read Also: DLF One Midtown

According to the CEO and Country Head (India, JLL) Ramesh Nair said that in the period when the whole world is suffering from the crisis and economy being falling, major issues of job security and fall in income levels, this boost in sales is a significant achievement. The housing sales are the major contributor with a vital growth of 51% all across the seven big cities. With this rise, there are positive hopes that 2021 will prove to be a new beginning with high growth rate. The government policies and more affordable homes has pushed the realty demand that is further fuelled by desire to own a house and renewed interest from certain buyer segments such as NRIs.

Read Also: TVS Emerald Singasandra Bangalore

Read Also: Godrej Pimpri Chinchwad Pune

Read Also: Loan Against Property In Noida

The National capital India is one of the top seven locations that have estimated to show 51 per cent residential properties sales. During the time period October-December 2020 i.e. the festive time was driven with increase in housing demand as when compared previous year. According to the data research, housing sales are estimated to rise at 21,832 units during October-December quarter as against 14,415 units in July-September.

Read Also: ATS Homekraft Rohini Delhi

Read Also: Max Sector 128 Noida

Read Also: Godrej Woodsville

Read Also: Paras Floret 

Wherein there could be seen steep low stage in number of sales in Bengaluru with 10,440 units in 2020 from 26,453 units last year. Housing sales in Chennai declined to 6,983 units from 13,967 units, while in Delhi-NCR demand dipped to 15,743 units from 29,010 units. In Hyderabad, sales decline to 9,926 units from 16,025 units. Kolkata witnessed sharp fall in demand to 2,568 units from 7,463 units. In Maharashtra, Mumbai saw housing sales of 19,545 units in 2020 as against 32,138 units last year while demand in Pune went down to 9,246 units from 18,867 units.

The real estate industry was strongly impacted but to the surprise GDP in July-September 2020 was recovering well more than expected. Within the same quarter the housing market also showed the recovery with having 34% increases in sales in order.

Now, in the fourth quarter of the year the improvement was quite significant with 51 per cent sales increase in the residential real estate in all among seven cities. As per the experts, housing sales in 2020 was expected to suffer more with a drop of 48 per cent to 74,451 units from 143,923 units from previous year as demand drooping in all seven cities.

Read Also:- Top 10 Best Residential Projects in Gurgaon

Read Also:- Top 10 Best Residential Projects in Mumbai

Read Also: M3M Sector 79 Gurgaon

Read Also: Smart World Sector 79 Gurgaon

This recovery has added more to the GDP as well and helped the economy to grow altogether. The launch of projects in the fourth quarter of 2020 has witnessed 26,785 new residential units being introduced. It is more than twice the new launches that were held in July-September months of 2020. These new launches have not only impacted the real estate but all the markets respectively. The two major locations Bengaluru and Delhi-NCR have witnessed the considerable increase in launches during this quarter. Hyderabad had been the top-most and dominated the market with almost 40% of the overall new launches wherein Bengaluru following with over 16%. The expert consultants stated that the main focus of developer right now is to complete the under construction projects and clear the existing inventory rather than building up new projects.

Read Also: TARC Kirti Nagar Delhi

Read Also: Top 10 Best Luxury Apartments in Pune

Read Also: Top 10 Best Luxury Apartments in Mumbai

Read Also: M3M Projects in Gurgaon

It now could be said that Indian real estate is moving ahead on a fast pace recovery mode. However if we go through the data India new launches projects saw a decline of 46% in 2020, whereas Hyderabad jumped the list to the top with 42% new launches year-on-year. According to the realty persons, there are prospective buyers only in the market who really wants to invest and that’s what is making the market rise and stable. Also, an expert stated that buyers are taking a turn towards the completed projects to avoid any risk.

Read Also: Smart World Sector 111 Gurgaon

Read Also: L and T Sector 150 Noida

Read Also: M3M Sector 111 Gurgaon

The future of the residential market will depend upon the containment of virus and its strains. The year 2021 is surely expected to be the end of the Covid-19 pandemic and economy settles at the prior form. Hopefully, it resumes at full capacity, housing affordability is expected to improve in all the cities across the country. Further, the residential market will be totally dependent upon the actual sales volumes that indirectly will be a result of economic environment and the prevailing consumer sentiments. As the unexpected rise in the fourth quarter can be seen, with fingers crossed we hope broader recovery of the market on the earliest.

ATS Pious Orchards

Read Also: - Top 10 Best Residential Projects in Pune

Read Also:- Top 10 Best Residential Projects in Kharadi

Read Also: - Top 10 Best Residential Projects In Undri 

Read Also: - Top 10 Best Residential Projects in Wagholi

Read Also: - Top 10 Best Residential Projects In Bangalore

Read Also: - Top 15 Best Residential Projects In Gurgaon

Read Also: Top 10 Best Residential Projects In Noida Extension

Read Also: - Top 10 Best Residential Projects In Sector-150 Noida

Read Also:- Top 10 Best Residential Projects in Noida

Read Also:- Top 10 Best Residential Projects in Wakad

Read Also:- Top 10 Best Residential Projects in Bavdhan

Read Also:- Top 10 Best Residential Projects in Nibm

Read Also:- Top 10 Best Residential Projects in Talegaon

Read Also:- Top 10 Best Low Rise Apartments in Gurgaon

Read Also:- Top 10 Best Residential Projects in Mamurdi

Read also: Top 10 Best Commercial Property in Noida

Read Also: Top 10 Best Luxury Villas in Noida

Read Also: Top 5 Best Luxury Projects in Delhi

Read Also: Top 10 Best Luxury Projects in Bangalore

Read Also: Top 10 Best Luxury Projects in Gurgaon

Read Also: Top 10 Best Residential Projects In Chennai

Read Also: Top 10 Best Residential Projects in Dwarka Expressway Gurgaon

Read Also : Assetz Group Property Bangalore Real Estate Developer And Builder