Pune, Mumbai Account for Half of April-June Housing Sales

The metropolitan areas of Pune and Mumbai accounted for nearly half the housing market of the country in terms of sales during the April-June period this year, revealed a report by real estate observer Anarock. The numbers wer

BY Realty Plus
Published - Monday, 28 Jun, 2021

Pune, Mumbai Account for Half of April-June Housing Sales

The metropolitan areas of Pune and Mumbai accounted for nearly half the housing market of the country in terms of sales during the April-June period this year, revealed a report by real estate observer Anarock. The numbers were down over the January-March period, but higher than the corresponding months in 2020 when the lockdown was severe. The Anarock report revealed that Mumbai finished first in sales over the period, followed by Pune (see graphic), which collectively took up nearly 46% of the seven major markets in India — the four metros, plus Pune, Bengaluru and Hyderabad. Observers attributed the drop in the numbers from April to June from that of the January-March period to the expiry of the stamp duty reductions (after March) in Maharashtra, the second wave of the pandemic since mid-April and the ensuing lockdown-like restrictions in the state. The sales figures from April to June this year were higher than that of the same period in 2020. “The second Covid-19 wave impacted the residential property market in the April-June (2021) period. But compared to the corresponding period of 2020, the sector displayed remarkable resilience. In the backdrop of developers adopting technology in their businesses, there was a huge annual jump in both new launches and sales. Importantly, the localized lockdowns and restrictions did not dent activity as much as the complete nation-wide lockdown last year,” Anarock chairman Anuj Puri said.