Housing Boom! 100,000 Housing Units Sold Across Top 7 Cities In 90 Days; NCR, MMR Grab 48% Sales
A new report has shown that approximately 99,550 housing units have been sold in the first quarter of 2021.
There has been a huge increase of 71 percent in the sale of housing units.
Top Cities Account For 89 Percent Sales in Q1 2021
The report published by Anarock states that NCR, MMR, Bengaluru, Pune, and Hyderabad together made up 89 percent of sales in the quarter.
Only MMR and NCR accounted for more than 48 percent of the total sales in the top seven cities. NCR has reportedly recorded an increase of more than 114 percent yearly increase.
There has been a 43 percent yearly increase in the new launches in the top 7 cities. It was 62,130 units in Q1 2021 to over 89,150 units in Q1 2022. In the previous quarter, MMR and Hyderabad have accounted for 51 percent of the total new launches in the top 7 cities.
MMR saw an increase of 59 percent and Hyderabad recorded a yearly increase of 71 percent in their new supply.
MMR, Hyderabad, Pune, and Bengaluru Top Contributors
The MMR (Mumbai Metropolitan Region), Hyderabad, Pune, and Bengaluru are key cities that contribute to new launches in Q1 2022. These cities have contributed to 82 percent supply addition.
As per the report, 23,640 units were launched in MMR in Q1 2022, and this is an increase of nearly 60 percent over Q1 2021. Also, more than 57 percent of new supply was added in the sub-Rs 80 lakh budget segment.
Hyderabad has made up for the sale of approximately 21,550 units in Q1 2022, which is a yearly increase of 71 percent over the corresponding period last year. Also, more than 63 percent of the new supply was added in the price bracket of Rs 80 lakh to Rs 2.5 crore.
Bengaluru has added around 13,210 units in the first quarter of 2022, with a yearly increase of 72 percent.
As we reported last year, compared to March 2020 when 3,798 housing units were sold, a year on saw a near 4x increase with 12,696 units registered. In 2019, the figure stood at 67,863 units. The 2020 figure stands at 65,272 units, coming in a close second.