Demand for their homes increased amid Corona crisis, house sales increased in January-March 2021

The demand for houses in 8 major cities of the country has increased rapidly.  (Symbolic picture)

The demand for houses in 8 major cities of the country has increased rapidly. (Symbolic picture)

Manish Upadhyay, chief business officer of 99acres.com, a real estate sector company, said that in the first quarter of 2021, the demand for houses in almost all metro cities has increased. Despite the second wave of Kovid-19, there has been a strong growth in demand for homes in Delhi-NCR, Mumbai and Pune in March 2021.

New Delhi. In the real estate sector, the effect of incentive policies of the government and the incentives given by the developers have started to appear. Demand in the Indian real estate market continues to be strong. According to a report published on 14 April on 99acres.com, a real estate sector firm, house sales in the country have increased by 20 per cent year-on-year during January-March 2021. However, due to the second wave of corona virus, there has been a slow recovery in Hyderabad and Bengaluru. The demand for homes in Chennai and Kolkata has gone above the pre-Kovid level.

Demand in these cities increased even after second wave of Kovid-19
The report said that even after the second wave of Kovid-19, there has been a strong increase in demand for homes in Delhi-NCR, Mumbai and Pune in March 2021. Manish Upadhyay, chief business officer of 99acres.com, said that in the first quarter of 2021, demand for homes in almost all metro cities has increased. As of March 2021, Mumbai and Pune have topped the list of homes for sale due to the government announcement of a reduction in stamp duty. On the basis of the property listed on 99acres.com, there has been no decline in the average listing price in any metro city in the period 8 to January-March 2021.

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The list of buyers has increased by 7% in the January-March period on 99acres.com. At the same time, the owner listing of the site has also seen a 20 percent increase on a quarterly basis. Manish Upadhyay said that good signs of recovery will now have to face the challenges of increasing corona cases and restrictions being imposed. This may result in economic recovery in some cities. Ongoing projects can be delayed and buyers’ site visits may also be reduced. During January-March 2021, about 600 new projects have been started in 8 major cities of the country. Despite the increasing cases of Corona, Mumbai is at the forefront of this race. Hyderabad is second in the list, beating Pune, while 3 percent of the projects in these 600 projects have been launched in Delhi-NCR.




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