Housing sales to rise 30%

New Delhi, Aug. 19: Housing sales are likely to rise by 30 per cent across seven major cities to nearly 1.8 lakh units in

2021, according to property consultant Anarock.

According to Anarock research, housing sales are expected to increase

30 per cent year-on-year (y-o-y) to 1,79,527 units across seven cities in 2021 from 1,38,344 units last year.

In 2019, housing sales stood at 2,61,358 units across seven cities — Delhi-NCR, Mumbai Metropolitan Region (MMR), Pune, Bengaluru, Hyderabad, Chennai and

Kolkata. The consultant also estimated sales to further rise in 2022 and

2023 to 2,64,625 and

3,17,550 units, respectively.

Anarock chairman Anuj Puri said: “The residential sector was showing healthy year-on-year growth since 2017 until the latest peak year of 2019, but this trajectory was derailed by the Covid-19 pandemic. Otherwise,

2020 was expected to be a watershed year for the housing sector”.

While the second half of the year did showcase the remarkable resilience of the Indian residential real estate, a new bottom for the sector was created in 2020, he added. “2020 is not a year that the industry is likely to forget very soon,” Puri said.

“2021 is expected to witness an increase of 35 per cent in housing launches and a 30 per cent increase in sales over the previous year,” he said.

ACCORDING TO Anarock, housing sales are expected to grow 30 per cent yearon-year to 1,79,527 units across seven cities in 2021 from 1,38,344 units in 2020