Housing Sales Up 20% Year-On-Year In January-March 2021: Report

The fourth and last quarter of the financial year 2020-21, registered the launch of as many as 600 new residential projects across top eight metro cities.

With the help of conducive government policies such as lower stamp duty and home loan interest rates, housing unit sales increased 20 pe rcent year-on-year between the period of January-March 2021. According to a recent report by leading real estate portal 99acres.com, the fourth and last quarter of the financial year 2020-21, registered the launch of as many as 600 new residential projects across the top eight metro cities. Even amid rising COVID-19 cases, Mumbai led all other cities for the third consecutive quarter, registering a 38 per cent share in the new and re-launched projects. Registering a 21 per cent share, Hyderabad overtook Pune to bag the second position. Delhi contributed a three per cent share in the overall new housing unit additions. In the first quarter of 2021 - January-March, Mumbai and Delhi were the two metro cities that topped the chart for luxury housing. Majority of the demand for property priced over Rs 1 crore was driven by Delhi and Mumbai, followed by Bengaluru and Hyderabad. However, affordable housing within the range of Rs 40 lakh was the most sought-after choice with Kolkata leading the housing demand, followed by Chennai, Ahemdabad, and Pune. The report added that the premium market picked up some pace, due to the non-resident Indians (NRI) demand in some cities such as Bengaluru and Pune.