the Q3 2020 base period saw nearly 29,520 units sold across the top 7 cities - much lower than the pre-COVID-19 quarter (Q1 2020) which saw nearly 45,200 homes sold. This effectively results in a larger scope for growth.
Hyderabad, Kolkata and NCR saw their new supply increase by 45%, 24% and 10% respectively during the period. The affordable and mid segments (priced up to INR 80 Lakh) comprised over 72% share (approx. 23,290 units) of the total new supply between July-Sept.
Currently, the top 7 cities account for almost 70% of India's residential market, with the remaining 30% accounted for in Tier 2 & 3 cities. This ratio may well change in times to come. Cities like Lucknow, Indore, Chandigarh, Kochi, Coimbatore, Jaipur and Ahmedabad would be the main beneficiaries of the reverse migration of professionals who have lost their jobs in the metros or are likely to.

COVID-19 Sentiment Survey – Housing Now Preferred Asset Class, 59% End-users

Homeownership is now a compelling priority for millennials facing uncertain times. Out of the total voters favouring real estate, 55% are aged between 25-35 years - and 68% are end-users. In the H2 2019 edition of this survey, only 42% were in this age bracket.