According to a report, home sales across 8 prime residential markets in India witnessed a 12% sequential rise in the January-March quarter of calendar year 2021. Developers sold a total of 66,176 homes during the period, helped by stamp duty and circle rate reductions, as announced by state governments like Maharashtra.
Dhruv Agarwala, Group CEO, Housing.com, Makaan.com and PropTiger.com, stated, “The residential real estate market in the country is seeing a positive momentum on the back of various measures taken by the centre and state governments, the RBI and the entire banking system (as demonstrated in home loan rate reductions).”
Another reason behind the pick-up in sales was affordability, a combination of property prices and lending rates. “Though the recent surge in covid-19 infections concentrated in a few markets is a concern, we expect the residential market recovery to continue,” Agarwala added.