Housing sales, launches hit a new low during April-June: Anarock1 min read . Updated: 24 Jun 2020, 06:35 PM IST
- Home sales during the period plummeted by 81% to 12,270 units
- Project launches also fell by 98% in the period with just 1,390 units getting launched
Bengaluru: Residential sales and project launches plunged to a new low across the top seven cities in the April-June period due to the covid-19 crisis and lockdowns.
Property consultancy Anarock Property Consultants said in a report that home sales during the period plummeted by 81% to 12,270 units compared with 68,600 units in the corresponding year-ago period.
Project launches also fell by 98% in the period with just 1,390 units getting launched. Project launches include two in Bengaluru and one each in Pune and Kolkata.
Limited fresh project launches reduced unsold inventory in top cities by 5% on a year-on-year basis – from more than 6.34 lakh units in April-June, 2019, to just over 6 lakh units this year.
"A massive drop in both new launches and housing sales were, of course, expected on the back of a complete lockdown for most of this quarter. Interestingly, Mumbai Metropolitan Region (MMR), one of the most COVID-19-affected cities, witnessed maximum housing sales of nearly 3,620 units among all cities, followed by Bengaluru with 2,990 units. Technology adoption has played a big role in housing sales of late, with many developers now strengthening their digital sales capabilities," said Anuj Puri, chairman, Anarock Property Consultants.