Units in the sub-45 lakh price segment contributed to the top quarterly sales, by claiming a 40% stake, followed by a ticket size bucket of Rs 45-75 lakh, which took a 28 percent share.

Even as real estate developers in India are pinning their hopes on the ongoing festive season to give those much-needed housing giants a recovery, growth indicators for the sector are already starting to point to a steady improvement.

According to Real Insight (Residential): July – September (Q3) 2021, Quarterly Industry Report by PropTiger.com, home sales and new launches showed a significant improvement between July and September 2021, indicating a shift in the real estate sector may be Just around the corner.

“It is now a well-established fact that the idea of ​​real estate ownership has gained traction in the wake of COVID and its impact on the way people live and work. Although this has helped build positive consumer confidence towards residential real estate, support measures by the government and the banking sector have The ball set the stage to create a positive change in momentum for the sector.These two factors together helped drive both supply and demand metrics up during the July-September quarter, said Dhruv Agarawala, Group CEO, HouHousing.com, PropTiger.com and Makaan.com. 2021.

“The stage is now set for the festive season to give the much-desired stimulus to an industry that has been eagerly waiting and working hard for it,” added Agarwala.

According to Real Insight (Residential) – July-September (Q3) 2021, home sales in the eight leading markets in India saw significant improvement during July-September 2021 (Q3 2021) as housing demand surged after the wave The second is the coronavirus pandemic.

A total of 55,907 new homes were sold in these markets during the three-month period, showing a 59% increase over the same period in 2020. On a sequential basis, home sales showed much stronger growth of 250% – only 15 were sold, 968 units during the April-June period of this year (Q22021), the report shows.

Units in the sub-45 lakh price segment contributed to the top quarterly sales, by claiming a 40% stake, followed by a ticket size bucket of Rs 45-75 lakh, which took a 28 percent share.

New supply figures show a three-fold jump compared to the third quarter of 2020

After a long period of decline, the new supply in the eight major residential markets in India also saw a significant rise in the third quarter, showing a tripling jump of 228% to 65,211 units compared to the third quarter of 2020 where a total of 19,865 units were launched in these markets The eight. Major real estate markets.

And the sequential increase in new supply was also no less impressive – a total of 21,836 units were launched in the second quarter of the calendar year, indicating a 199% jump in the third quarter.

Of the total units launched in the third quarter, 33% were of the Rs 45-75 price category, the largest number of launches seen in any segment during the quarter.

Mumbai (33%) and Ahmedabad (21%) saw the highest number of quarterly launches.

Decreased accumulated inventory to 3.6 years; More potential improvement in the festive season

As of September 30, 2021, builders in India had an unsold inventory of 7,20,519 housing units in the eight largest housing markets.

Although new supply is added to the total number of units available for purchase in the eight housing markets (unsold inventory was 7,11,215 in Q2 2020), stockpiles fell during Q3 2020 to 44 months (3.6 years) from 48 months in the previous quarter.

This decrease in inventory buildup—estimated period builders in a given market are more likely to sell their unsold inventory at current sales speed—can be attributed to the rise in demand during the quarter, which is likely to improve further in Q4. This may lead to more The decrease in inventory accumulated during the holiday season.

While NCR has the highest stock graded at 62 months, Hyderabad has the lowest graded stock at 25 months.

Price growth remains muted; Average growth remains positive for Ahmedabad

With supply-side issues continuing to negatively impact the cost of building housing projects in the wake of the pandemic, all housing markets included in the analysis showed an increase in average prices for apartments and villas. On a pan India basis, the weighted average price was Rs. 6,200 – 6,400 rupees per square foot, annual change of 5%.

Ahmedabad saw the highest upward movement in average apartment prices, with the average price rising to Rs 3,300 – Rs 3,500 per square foot (psf) in Q32021, an increase of 8% year-on-year. It was followed by Hyderabad at 6%, then Delhi NCR at 5%, Pune and Bengaluru at 4%, Mumbai and Chennai at 3%, and Kolkata at 2% over last year at a weighted average price.

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