Mumbai records 2x mores home sales than Delhi in Q2 2021
New Delhi: The financial capital of the country Mumbai has outrun Delhi NCR in home sales by a factor of 2 in the second quarter (April-June) of the current calendar year. Mumbai clocked sales of 7,400 houses in Q2 of 2021 while Delhi NCR recorded sales of 3,470 units in the same period. Both the cities are the largest real estate markets in the country.
Even in percentage terms, Mumbai performed far better if the sales of Q2 of last calendar year and the same period of this year are compared. The Maximum City recorded 104 percent jump in housing sales during Q2 of this year as compared to same period of last year while Delhi NCR registered 65 percent increase in the corresponding period.
Even in the case of new launches, Mumbai saw an addition of 6,880 units in 2 of 2021 while Delhi NCR witnessed only 3,820 homes being launched, according to a report by ANAROCK.
Mumbai had to settle with 54 percent reduction in new launches as compared to the immediately preceding quarter (Jan-March) of 2021 while Delhi saw 43 percent cut in new launches in Q2 of 2021 as against Jan-March quarter of 2021.
Even when it came to reduction in piled-up inventory of completed houses, Mumbai saw a 6 percent cut in unsold stock in Q2 of 2021 as compared to the same period of 2020. Delhi NCR, on the other hand, lowered its piled-up stock by just 1 percent.
However, in terms of price rise, Delhi NCR did better than Mumbai. The price rise in Delhi NCT was to the tune of 2 percent in Q2 of 2021 as compared to the same period of last year while Mumbai saw price rise of mere 1 percent.