Friday, Mar 29 2024 | Time 11:08 Hrs(IST)
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Business Economy


Housing sales up 71 pc in 2021

Kolkata, Jan 3 (UNI) Notwithstanding the devastating 2nd wave of
COVID-19, Indian residential real estate staged a convincing comeback in 2021.
A data revealed, by a private property consultant, that approximately
2.37 lakh units were launched across the top 7 cities during the year,
touching the pre-COVID levels of 2019s.
Yearly, new launches rose by 85 per cent in 2021 over 2020, ANAROCK
Property Consultants said in its latest report.
Housing sales rose 71 pc Y-o-Y in 2021 with approx. 2.37 lakh units
sold, thus reaching 90 pc of pre-COVID 2019 levels.
MMR recorded the highest sales at 76,400 units, followed by NCR with
approx. 40,050 units sold.
Of approx. 2.37 lakh units launched in 2021, the mid-segment (INR 40
lakh to INR 80 lakh) had the maximum share with 39 pc
followed by the affordable segment (priced under INR 40 lakh) with a
26 pc share. The premium segment (priced between INR 80 lakh to INR
1.5 Cr) had a 25 pc share.
MMR saw approx. 56,880 units launched in 2021 – a significant rise of
over 88 pc over 2020. Approx. 58 pc of the new supply was added in the
sub-INR 80 lakh budget segment.
Hyderabad added some 51,470 units in 2021 - a yearly increase of 144
pc over 2020 and a 71 pc increase over pre-COVID 2019.
About 81 pc new supply was added in the mid-segment (INR 40 lakh to
INR 80 lakh) and the premium segment (INR 80 lakh to INR 1.5 Cr budget
range) NCR added 31,710 new units in 2021 compared to 18,530 units in
2020 - a significant rise of 71 pc.
About 52 pc of the new supply was added in the mid and premium segments
Pune added 39,870 units in 2021, a massive jump of 67 pc over 2020.
Some 57 pc of the new supply was added in the mid-segment
Bengaluru added about 30,650 units in 2021, an increase of 43 pc over 2020.
An estimated 72 pc the new supply was added in the mid and premium
segments Kolkata added about 13,750 units in 2021, a massive increase of 290 pc over 2020.
About 71 pc of the new supply was added in the affordable segment
Chennai added about 12,370 units in 2021, an increase of 35 pc over 2020.
About 62 pc of the new supply was added in sub INR 80 lakh budget segments.
“Despite the pandemic, 2021 was a fantastic year for the Indian
housing sector. More or less an equal number of homes were launched
and sold. The fact that launches were back to pre-COVID levels is very
significant, and housing sales fell short of 2019 by a mere 10%. Of
the four quarters, Q4 2021 was by far the best, with housing sales in
the top 7 cities attaining a new high of approx. 90,860 units in Q4
2021. This was the highest quarterly sales performance since 2015."
ANAROCK chairman Anuj Puri said.
The rise in homeownership aspirations was aptly supported by the
developer discounts and offers, government incentives like
Maharashtra's stamp duty cut, and lenders maintaining decadal-low interest rates.
“Extrapolating on the performance in 2021, 2022 will see very
satisfactory growth as long as the coronavirus pandemic remains in
check-in India," said Puri.
UNI PC RN
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