[INDIA REAL ESTATE NEWS] Good morning everyone I am Rumi Dhar from Kama Group.
Here I have important INDIA real estate news to share with you which is as mention under.
The real estate sector is perking up with home sales showing a 104 percent increase in the
top seven cities of the country for the July-September period from the previous quarter, as
Delhi and its suburbs top the shopping table, a report has said.
As many 50,983 houses were sold in the third quarter against 24,936 in teh second quarter
of 2020, the report by PropEquity, a real estate data, research and analytics firm, has said.
“Indian real estate sector is showing some recovery, as many projects were launched in the
last quarter and with various schemes and offers, developers were able to clear significant
inventory,” PropEquity managing director Samir Jasuja said.
“As we move into the festive season, we forecast this recovery to continue with more offers,
discounts and attractive payments schemes to attract customers,” he added.
On a year-on-year basis, however, housing sales were down 35 percent to 50,983 units.
At 78,472, new launches in the quarter, too, were down 30 percent year-on-year.
The new supply or launches of housing units increased by 126 percent during the
July-September period to 38,131 units from 16,808 units in Q2 2020 as developers got back
to work with easing of lockdown restrictions, the report said.
The Delhi-National Capital Region saw a 295 percent increase in the sale of homes against
the previous quarter. Bengaluru, Chennai, Hyderabad, Kolkata, the Mumbai Metropolitan
Region (MMR) and Pune clocked a growth of 86 percent, 131 percent, 159 percent,
89 percent, 70 percent, 72 percent, respectively. This data includes lottery housing projects.
Read more at:https://www.moneycontrol.com/news/business/festival-cheer-for-real-estate-sector-housing-sales-up-104-in-top-7-cities-5932931.html