During the unlock of Corona epidemic across the country, work in the property market is also starting to speed up during the unlock. New launches grew 58 percent between the July to September quarter compared to April to June this year. Most of the launches have been in Hyderabad and Pune and the focus of the builders has shifted towards building smaller and affordable homes. In comparison to research by property-related company PropTiger, around 20,000 new units have been launched across the country in the third quarter of this calendar year. . About 45 percent of these houses have been launched in Pune and Hyderabad.
House sales boom
It has also been told in the report that now a boom in home shopping has also been seen. Home sales in the July-September quarter increased by 85 percent compared to April-June. Of these, 53 per cent of the customers have chosen to buy the 2BHK house only. Pune and Mumbai are the top cities in terms of sales. 56% of the total sales were from these two cities.
State of ncr
However, NCR has lagged behind in terms of new launches. According to the report, there are no new launches in Noida and Greater Noida. Gurugram has seen new launches only in the area with Sector 36. The focus of the developers here is more on building only 2 BHK and 3 BHK houses. At the same time, the share of small houses is about 60 percent. However, the price of houses to be launched in Ghaziabad area is above Rs 75 lakh. Most 3 BHK houses have been launched here. The report mentions data for eight major cities including NCR, Pune, Mumbai, Hyderabad and Chennai. Of this, NCR has the highest 58 per cent inventory, which is a challenge for builders.
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Things may have started to look positive during Corona, but the business is still far behind last year. Sales in the same quarter of 2020 have fallen by 57 per cent compared to July-September 2019. According to Manipat Rangarajan, Group COO of PropTiger, in the changing working environment, it is expected that the workfrom home culture will continue for a long time, so the demand for small houses may continue.