[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.
Due to Covid-19, the top seven cities in India saw a 43 per cent drop in home sales worth
₹88,730 crore sold in the first three quarters of 2020 as against ₹1,54,320 crore in the
corresponding period of 2019. The total value reduction amounted to about ₹65,590 crore
during the period.
“As was to be expected, the second quarter (Q2) was lacklustre given the lockdowns and
overall pressures on the economy. What is remarkable is how the third quarter (Q3) stacked
up, clearly indicating that buyer sentiment was in place and merely held at bay by uncertainty.
Based on these results, there is now every reason to look at the coming festive season
with confidence — homebuyers are back on the market. This return of sentiment, coupled
with various festive offers and with attractive financial schemes, will produce a marked
uptick,” said Anuj Puri, Chairman, Anarock Property Consultants.
Housing sales fall 46 per cent in July-Sept on lower demand amid Covid-19
Between January and September 2020, 87,460 units were sold across the top seven cities
as against about 2.02 lakh units sold a year ago. However, the quarterly numbers indicate
that the worst is over for the residential sector. Q3 2020 saw home sales values increase
by more than 2.3 times to about ₹29,731 crore — up from ₹12,694 crore in the preceding
quarter. Q1 2020 saw home sales worth about ₹46,306 crore.
Read more at: https://www.thehindubusinessline.com/news/real-estate/covid-impact-home-sales-down-43-per-cent-in-first-three-quarters-of-2020/article32833443.ece
Have a nice day