07
October 2020, New Delhi: In a report released by
PropEquity, India’s leading real estate data, research and analytics firm, sales
or absorption of housing units increased by 104% across top 7 cities in India
in the third quarter of 2020 to 50,983 units versus 24,936 units in Q2 2020.
The sales
went up as COVID related lockdown across India was relaxed in phases to help
the economy get back on track.
The new supply or launches of
housing units also increased by 126% during the same period to 38,131 units
from 16,808 units in Q2 2020 as developers launched several projects post the
lockdown.
Delhi NCR witnessed 295% home sales growth in Q3 2020
versus Q2 2020 while other cities including Bengaluru, Chennai, Hyderabad, Kolkata,
MMR and Pune clocked 86%, 131%, 159%, 89%, 70%, 72% respectively. This data
includes lottery housing projects.
Data comparison has been made
sequentially due to extraordinary situation of pan-India lockdown announced by
the Indian Govt. On an year ago basis, sales fell by 35% and new launches by
30%.
“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. As we move into the festive season, we forecast this recovery to
continue with more offers, discounts and attractive payments schemes to attract
customers,” Mr.
Samir Jasuja, founder and managing director at PropEquity said.
|
Media Indicators |
||||||
|
Inventory |
Q3-2019 |
Q2-2020 |
Q3-2020 |
|
Q O Q |
Y O Y |
|
Opening Stock |
838,891 |
817,706 |
809,578 |
-1% |
-3% |
|
|
New Supply |
54,192 |
16,808 |
38,131 |
127% |
-30% |
|
|
Total Absorption |
78,472 |
24,936 |
50,983 |
104% |
-35% |
|
|
New Unsold Stock |
814,611 |
809,578 |
796,726 |
-2% |
-2% |
|
Cities’
snapshot:
MMR
New launches witnessed a growth of 113% to 8,056 units
from 3,785 units and the absorption increased by 71% to 16,652 units from 9,750
units.
Hyderabad
New launches witnessed a growth of 370% to 6,580 units
from 1,402 units and the absorption increased by 158%
to 4,677 units from 1,803 units.
Bengaluru
New launches witnessed a downfall of 2.42% to 6,049 units
from 6,199 units and the absorption increased by 86.20% to 6,098 units from 3,275
units.
Pune
New launches witnessed a growth of 137% to 8,664 units
from 3,655 units and the absorption increased by 73% to 9,539 units from 5,515 units.
Chennai
New launches witnessed a growth of 1166% to 2,089
units from 165 units and the absorption increased by 131% to 2,403 units from 1,040
units.
Kolkata
New launches witnessed a downfall of 50% to 348
units from 698 units and the absorption increased by 89% to 2,239 units from 1,184
units.
About PropEquity:
P.E. Analytics owns and operates PropEquity which is
India’s largest online real estate data and analytics platform covering over
1,18,010 projects of 34,217 developers across over 44 cities in India. We add
approximately 300 projects every month. It is a premier Business Intelligence
product- a first of its kind in India in the Realty space.
For media enquiries, please
contact:
Kanishk Srivastava
+91-7651810590
***
