Home sales jump 44%, launches rise 38% in top cities in Q1: Knight Frank India

New Delhi: The housing property market in the major Indian cities has seen a decent jump in sales and launches during the Jan-March (Q1) of the current calendar year.

The launches in the quarter went up by 38 percent as compared to the same period of the previous calendar year to touch 76,006 units mark. The sales jumped 44 percent to 71,963 homes in the period, a according to a report by Knight Frank India.

There was stamp duty reduction in Maharashtra and hence the cities Mumbai and Pune have seen very healthy sales and launches in the period. 

“The first quarter of 2021 saw a significant rise in sales across the key markets, led by Mumbai and Pune – the two markets that received substantial backing from the state government in the form of reduced stamp duty. Other cities also recorded a rise in sales of homes due to a shift in attitude in homebuyers that has now started to prefer ownership,” said Shishir Baijal, Chairman & Managing Director, Knight Frank India.