In its quarterly report Real Insight (Residential) – April – June 2021, PropTiger reported that sales in the primary markets of Delhi-NCR increased to 2,828 units during April-June 2021 from 1,886 units in the year-ago period.
Delhi-NCR, Ahmedabad and Hyderabad were the only three cities out of the country’s eight major markets tracked by PropTiger that saw an increase in sales. While the remaining five cities – Mumbai Metropolitan Region (MMR), Pune, Bengaluru, Kolkata and Chennai saw a decline in demand.
Sales across eight cities declined 16 per cent to 15,968 units in the second quarter of this calendar year as against 19,038 units in the same period last year. There was a decline of 76 per cent in sales on a sequential basis.
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Mani Rangarajan, Group COO, Housing.com, Makaan.com and PropTiger.com, said, “Residential properties have become very affordable in the last 5-6 years due to low interest rates on home loans and stable property prices. Besides, the COVID-19 pandemic has made it very affordable. It has made us realize how important it is to own a home and be of a certain size conducive to remote working. These factors have kept the housing market resilient in the midst of an unprecedented global health crisis.”
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