Home sales rise across top cities, NCR remains outlier: Report

Housing sales rose by 23 per cent across the top seven cities in India in the first five months of 2021 to 1,32,818 units, according to a report released by PropEquity, a real estate data, research and analytics firm.

During the same period last year, a total of 1,08,199 units were sold, it said.

The report showed that majority of the sales happened till mid-April, just ahead of the resurgence in Covid-19 cases.

Bengaluru, Chennai, Hyderabad, Mumbai Metropolitan Region (MMR) and Pune are the cities where home sales witnessed a growth in the first five months of 2021 as against the first five months of 2020, with a growth of 16 per cent, 40 per cent, 39 per cent, 29 per cent and 34 per cent, respectively.

However, the National Capital Region and Kolkata remained the outliers and witnessed a downfall of 11 per cent and 20 per cent, respectively, in home sales during the same period.

Sales in the NCR were greatly impacted as the national capital faced a major brunt of the second Covid wave during which the city came to a standstill to tackle the health emergency. This was followed by a stringent lockdown further impacting housing sales, the report noted.