Housing gross sales dips 23% in Apr-Jun vs earlier quarter; up 83% on-year in seven cities

Housing gross sales declined 23 per cent in April-June throughout seven cities in contrast with the earlier quarter because of the second wave of the COVID pandemic, however witnessed an 83 per cent rise on an annual foundation, in keeping with JLL India.
In its newest report, actual property guide JLL India mentioned that gross sales of residential properties stood at 19,635 models throughout April-June interval of this calendar 12 months.
Sales of residential properties stood at 25,583 models within the January-March quarter of 2021, and at 10,753 models throughout April-June interval of final 12 months.
JLL India tracks Delhi-NCR, Mumbai, Kolkata, Chennai, Bengaluru, Hyderabad and Pune. Mumbai contains Mumbai metropolis, Mumbai suburbs, Thane metropolis and Navi Mumbai.

On a quarter-on-quarter comparability, gross sales in Bengaluru rose to 47 per cent 3,500 models throughout April-June 2021, from 2,382 models within the earlier quarter.
Chennai witnessed a drop of 81 per cent to 600 models from 3,200 models.
Housing gross sales in Delhi-NCR fell 55 per cent to 2,440 models from 5,448 models.
In Hyderabad, gross sales declined to three,157 models from 3,709 models.
Housing gross sales in Kolkata had been down 56 per cent to 578 models from 1,320 models.
In Mumbai gross sales rose marginally to five,821 models from 5,779 models, whereas Pune noticed a 6 per cent fall in demand to three,539 models from 3,745 models.
According to the information, in April-June 2020, housing gross sales in Bengaluru stood at 1,977 models, Chennai 460 models, Delhi-NCR 2,250 models, Hyderabad 1,207 models, Kolkata 481 models, Mumbai 3,527 models and Pune 851 models.
Sales of 45,218 residential models had been recorded within the first half (H1), 2021, as in opposition to 38,204 models in H1 2020, a rise of 18 per cent year-on-year.
“The sustained levels of residential sales present clear signs of demand and buyer confidence coming back to the market. The need for secured tangible assets and aspirations to own larger homes as remote working becomes the new norm is driving sales of residential properties across the country,” JLL India mentioned.

Residential costs in a majority of India’s residential markets have remained stagnant previously few years.
In Q2 2021, costs remained largely stagnant when in comparison with the earlier quarter, throughout all of the seven markets beneath evaluation, it mentioned.