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.
If not for COVID-19, the top 7 cities were to see the delivery of nearly 4.66 lakh units by 2020-end. Launched after 2013, many of the projects were in the final leg of completion
As per ANAROCK research, average property prices in the top 7 cities in the last decade (2010-Q1 2020) saw a close to 38% jump. The average price of a home in the top 7 cities rose from approximately INR 4,063 per sq. ft. in 2010 to INR 5,599 per sq. ft. by Q1 2020.
Wellness amenities such as yoga studios, meditation rooms, spas, gymnasiums, tennis courts and jogging tracks became the new rage among urban homebuyers.
Home sales in India have not rebounded to their earlier peak levels. Here’s why housing, our' most-favoured investment route has fallen from grace today.