South India sees up to 4 times jump in home sales in Q2 2021
New Delhi: The second quarter of the current calendar year (April-June) has been a period of bumper sales in South India as compared to the same period of 2020, also because of low base of last year in this period.
The reasons notwithstanding, Hyderabad, Chennai and Bengaluru, the three major real estate markets in South India, saw sales jump of 19-395 percent in this time period.
Hyderabad witnessed sales of 3,240 houses in Q2 of 2021, a jump of 395 percent as compared to 660 units sold in the same period of 2020.
Chennai saw 1,590 homes being sold in Q2 of 2021, a jump of about 231 percent as against the same time period of 2020.
Bengaluru clocked sales of 3,560 houses in Q2 of 2021 as against 2,990 homes in the same period of 2020, an increase of 19 percent, according to a report by ANAROCK.
As far as new launches are concerned, Hyderabad saw about 8,850 new homes being added in Q2 of 2021.
Bengaluru saw addition of 6,690 homes in Q2 of 2021. Chennai witnessed new home launches of about 3110 homes in Q2 of 2021.
The prices of residential properties increased by 2 percent in Bengaluru in Q2 of 2021 as compared to Q2 of 2020. Hyderabad and Chennai saw price increase of around 1 percent in these periods.