Home Sales Gaining Momentum!

Significant Increase in Apartment Sales

According to the ANAROCK Real Estate Consultancy, apartment sales in the seven major cities of India increased by 113% in the third quarter of 2021.

Year-over-Year Comparison

In the third quarter of 2020, approximately 29,520 homes were sold, while in the third quarter of 2021, nearly 62,800 homes were sold, marking a 156% increase.

Surge in New Home Announcements

In the third quarter of 2020, 32,530 new homes were announced, whereas in the third quarter of 2021, 64,560 new construction projects were announced, a 78% increase.

Mumbai Metropolitan Region

The Mumbai Metropolitan Region saw the highest number of new apartment announcements, with 16,510 new homes. Among these new homes, mid-range homes priced between ₹40 lakh to ₹80 lakh contributed 41%. Affordable homes priced under ₹40 lakh accounted for 24% of new home sales in the third quarter of 2021. Premium homes contributed 25%.

Chennai's Performance

In the third quarter of 2021, approximately 3,405 apartments were sold in Chennai, a 113% increase compared to the third quarter of 2020. In the same period, approximately 2,980 new apartment projects were announced in Chennai, a 48% increase from the third quarter of 2020. Prices of homes in major cities have increased by 1% to 4%.