Despite corona pandemic, top 5 cities clock higher home sales in Q1 of 2021
New Delhi: Despite corona pandemic, top five cities in the county have logged higher sales of residential property in first quarter of the current calendar year as compared to the same period of last year. These cities are Ahmadabad, Delhi NCR, Chennai, Hyderabad and Kolkata which have clocked 4-39 percent higher dales in Jan-March period of 2021 as against the same quarter of 2020. It can be remembered that the first quarter of 2020 was almost free of corona pandemic.
While Hyderabad recorded home sales of 5,554 units in Q1 of 2020, the same was 7,721 units in Q1 of 2021, a growth of 39 percent. Chennai clocked sales of 3,642 units in Q1 of 2020 while the same was 4,468 units in Q1 of 2021, a growth of 23 percent, according to a report by property portal Proptiger.com.
Similarly, Kolkata saw sales of 2,747 units in Q1 of 2020 while the same was 3,382 units in Q1 of 2021, a jump of 23 percent. Delhi NCR witnessed sales of 5,411 units in Q1 of 2020 while the same was 6,188 units in Q1 of 2021, an increase of 14 percent. Ahmedabad saw sales of 4,511 homes in Q1 of 2020 while the same was 4,687 homes in Q1 of 2021, a 4 percent increase.
About 45 percent of the total sales of homes in top eight cities was of units comprising of 2 bedrooms and costing up to Rs 45 lakh in Q1 of 2021. The mid-segment of houses (Rs 45–75 lakh price bracket) had a share of 27 percent of the total sales. Homes costing more than Rs 75 lakh accounted for about 28 percent of the sales.