Property consultant Anarock today said housing sales across the top seven cities rose 71% year-on-year in 2021 to 2,36,530 units as against 1,38,350 units in 2020, though the demand fell short of pre-Covid levels by 10%

NEW DELHI : Property consultant Anarock on Sunday said housing sales across the top seven cities rose 71% year-on-year in 2021 to 2,36,530 units as against 1,38,350 units in 2020, though the demand fell short of pre-Covid levels by 10%.

The Mumbai-based property consultant said low-interest rates on home loans, cut in stamp duty by a few states including Maharashtra, discounts offered by some builders were the main reasons for the rise in housing sales this year despite slow growth in other sectors.

Anarock said festive demand and other positive factors in the last quarter of 2021 contributed nearly 39% to overall sales during the year.

Giving the housing sales of top seven cities across the country, the property consultant said the Mumbai Metropolitan Region saw a rise of 72% to 76,400 units in 2021 as against 44,320 units in the previous year. Hyderabad reported a three-fold jump to 25,410 units in 2021 from 8,560 units during 2020.

Delhi-NCR reported a 73% rise in housing sales to 40,050 units in 2021 as against 23,210 units in 2020, while Pune witnessed a jump by 53% to 35,980 units in 2021 from 23,460 units in 2020.

Bengaluru and Chennai saw a 33% and 86% rise in housing sales respectively. Bengaluru reported a sale of 33,080 units in 2021 as against 24,910 units in 2020, while Chennai reported sale of 12,530 units in 2021 from 6,740 units in 2020.

In Kolkata, sales increased to 13,080 units in 2021 as against 7,150 units in 2020.

Expressing apprehension over Covid-19 pandemic, Anarock chairman Anuj Puri said 2022 will see very satisfactory growth as long as the pandemic remains in check.

Puri said "Input cost pressure and supply chain issues may induce a 5-8% increase in property prices in the new year. He further said sales will reach pre-COVID level in 2022 and demand would consolidate towards trusted developers.

He said, on the supply side, the new launches have reached pre-pandemic levels of 2019 as the new launches have increased 85% to 2,36,700 units across the top seven cities in 2021 as against 1,28,000 units in the previous year. 

In the Mumbai Metropolitan Region market, new launches rose 88% to 56,880 units in 2021 from 30,290 units in the previous year. Hyderabad saw a jump of over two-folds to 51,470 units in 2021 from 21,110 units in 2020. The Delhi-NCR saw 71% increase in new housing supply at 31,710 units in 2021 as against 18,530 units in 2020.

Pune and Bengaluru witnessed 67% and 43% rise in the new launches. The Maharashtra city launched 39,870 housing units in 2021 as against 23,920 units in 2020. Whereas Bengaluru launched 30,650 new homes in 2021 from 21,420 in the previous year. Kolkata recorded a jump of nearly four times to 13,750 housing units in 2021as against 3,530 in the previous year.

Chennai recorded a 35% rise in new launches to 12,370 housing units in 2021 as against 9,170 units in the previous year.

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