Homes worth Rs 88,730 cr sold in first nine months of 2020 in top 7 cities

New Delhi: The top seven cities witnessed homes worth Rs 88,730 crore being sold in the first nine months of the current calendar year. This was 43 percent decline as compared to Rs 1,54,320 crore worth of houses being sold in the corresponding time period of 2019.

About 87,460 homes were sold in first nine months of 2020 as against 2.02 lakh houses in same time period of 2019, according to a report by ANAROCK.

The total sales value in 2020 was highest in Mumbai at Rs 49,313 crore. This was followed by Bengaluru at Rs 12,569 crore. Third position was bagged by Delhi NCR at Rs 9,430 crore.

Mumbai witnnnsed lowest reduction of 22 percent in value terms– from Rs 62,964 crore in the first nine months of 2019 to Rs 49,313 crore in the same period of 2020.

However, on quarter on quarter basis, the third quarter of the current calendar year witnessed home sales value jump by 134 percent to Rs 29,731 crore from Rs 12,694 crore in the preceding quarter (April-June of 2020). 

Mumbai emerged at the first place with sales worth Rs 49,313 crore in the first nine months of 2020. On annual basis, Mumbai witnessed total sales value decline by 22 percent-from Rs 62,964 crore in 2019 to Rs 49,313 crore in 2020. 

Anuj Puri, Chairman – ANAROCK Property Consultants says, “There is now every reason to look at the coming festive season with confidence - homebuyers are back on the market."

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