By Varun Singh

Yes, there’s no official competition between cities of India when it comes to real estate.

But every one desires to know which city sold the highest number of homes in the country.

Of the top 8 cities that we normally talk about there’s one city which sold way more real estate than any other city in the country.

Sales City Wise
According to a report by Liases Foras, a real estate research firm, compared to the previous year, Tier I cities recorded a sales growth of 42% in 2021 with 263,611 units.

Sales across the Tier I cities improved, with all cities showcasing an upward movement.
Sales witnessed maximum gain in Bangalore by 78%, followed by Chennai (56%), Pune (54%), Hyderabad (49%), MMR (35%), Ahmedabad (30%), NCR (25%), and Kolkata (6%).

Overall sales across tier I cities decreased by 4%.
Sales witnessed maximum loss in Kolkata by 35%, followed by NCR (31%), Ahmedabad (10%), MMR (5%).

Sales in Pune increased by 20%, Chennai (13%), Hyderabad (10%) Bangalore (8%).

While Bangalore saw maximum gain it was MMR which sold maximum number of real estate units.

MMR sold 65,457 units in 2021, the second closest is Pune with 50,930, while Bangalore stood a distant third with 39,385 units being sold.

Unsold Stock City Wise
Talking about unsold stock, the report says, consolidated, tier 1 cities’ unsold stock decreased with a 3% drop in 2021.

The unsold stock increased in Hyderabad by 42%, Ahmedabad by 9%, and Chennai by 4%, while it declined in all other cities.
Bangalore witnessed the maximum reduction in unsold stock by 22%.

Unsold stock in Tier I cities decreased by 8% in 2021 compared to 2019.

Kolkata witnessed the maximum decline in unsold stock (27%), followed by Bangalore (25%), Pune (15%), NCR (12%), and MMR (4%).

The unsold stock increased in Hyderabad by 30% Chennai by 3%.

New Launches City Wise
Tier I cities had recorded new launches of 241,907 units in 2021, which is a 75% increase compared to 2020 when it was 138,577 units.

New launches witnessed maximum gain in Hyderabad by 232%, followed by Kolkata (140%), NCR (126%), Ahmedabad (123%), Pune (58%), Chennai (45%), MMR (36%), and Bangalore (21%)

Overall, New Launches across tier I cities decreased by 10%.

New launches witnessed a maximum increase in Hyderabad by 59%, followed by Ahmedabad (32%), Chennai (29%), NCR (3%).

New launches declined in Kolkata (36%), MMR (31%), Bangalore (29%), Pune (20%).

Price Movement City Wise
In 2021, the weighted average price across Tier I increased by 3%.

Prices in Hyderabad and Ahmedabad increased by 7% and 6%, respectively, while All other cities showed a marginal price increase.

Weighted average price across Tier I cities increased by 3% in 2021 compared to 2019.

Prices increased in Hyderabad by 11%, followed by 8% in Ahmedabad, 5% in NCR, and Chennai, 4% in Pune.

Price remained stable in Bangalore and MMR while it declined by 1% in Kolkata.

Also Read: Not Mumbai but this city sells more homes in MMR

The post Which Indian City Sold More Real Estate in 2021? appeared first on Square Feat India.

By Varun Singh

Notwithstanding the devastating 2nd wave of COVID-19, Indian residential real estate staged a convincing comeback in 2021. ANAROCK data reveals that approx. 2.37 lakh units were launched across the top 7 cities during the year, touching the pre-COVID levels of 2019s. Yearly, new launches rose by 85% in 2021 over 2020.

Housing sales rose 71% Y-o-Y in 2021 with approx. 2.37 lakh units sold, thus reaching 90% of pre-COVID 2019 levels. MMR recorded the highest sales at 76,400 units, followed by NCR with approx. 40,050 units sold.

Of approx. 2.37 lakh units launched in 2021, the mid-segment (INR 40 lakh to INR 80 lakh) had the maximum share with 39%, followed by the affordable segment (priced under INR 40 lakh) with a 26% share. The premium segment (priced between INR 80 lakh to INR 1.5 Cr) had a 25% share.

Anuj Puri, Chairman – ANAROCK Group, says, “Despite the pandemic, 2021 was a fantastic year for the Indian housing sector. More or less anequal number of homes were launched and sold. The fact that launches were back to pre-COVID levels is very significant, and housing sales fell short of 2019 by a mere 10%. Of the four quarters, Q4 2021 was by far the best, with housing sales in the top 7 cities attaining a new high of approx. 90,860 units in Q4 2021. This was the highest quarterly sales performance since 2015.”

A tremendous rise in homeownership aspirations was aptly supported by developer discounts and offers, government incentives like Maharashtra’s stamp duty cut, and lenders maintaining decadal-low interest rates.

“Extrapolating on the performance in 2021, 2022 will see very satisfactory growth as long as the coronavirus pandemic remains in check in India,” says Puri. “Various trends will shape the sector in 2022 – Grade A developers will corner more market share, and sales will come back to the pre-pandemic levels of 2019. However, input cost pressure and supply chain issues may induce a 5-8% increase in property prices. End-users will remain the dominant market force, and peripheral areas of the larger cities will continue to see both supply and demand traction.”

New Launch Overview: 2021 vs. 2020

Y-o-Y, the top 7 cities saw approx. 2,36,700 new unitslaunched in entire 2021, against 1,28,000 units in 2020 – a significant increase of 85%, which put new launches back on par with the pre-pandemic 2019 levels.

The key cities contributing to launches in 2021 were MMR (Mumbai Metropolitan Region), Hyderabad, Pune, and NCR – together accounting for 76% of supply additions:

• MMR saw approx. 56,880 units launched in 2021 – a significant rise of over 88% over 2020. Approx. 58% of the new supply was added in the sub-INR 80 lakh budget segment
• Hyderabad added approx. 51,470 units in 2021 – a yearlyincrease of 144% over 2020 and a 71% increase over pre-COVID 2019. Approx. 81% new supply was added in the mid-segment (INR 40 lakh to INR 80 lakh) and the premium segment (INR 80 lakh to INR 1.5 Cr budget range)
• NCR added 31,710 new units in 2021 compared to 18,530 units in 2020 – a significant rise of 71%. Approx. 52% of the new supply was added in the mid and premium segments
• Pune added 39,870 units in 2021, a massive jump of 67% over 2020. Approx. 57% of the new supply was added in the mid-segment
• Bengaluru added approx. 30,650 units in 2021, an increase of 43% over 2020. Approx. 72% of the new supply was added in the mid and premium segments
• Kolkata added approx. 13,750 units in 2021, a massive increase of 290% over 2020. Approx. 71% of the new supply was added in the affordable segment
• Chennai added approx. 12,370 units in 2021, an increase of 35% over 2020. Approx. 62% of the new supply was added in sub INR 80 lakh budget segments

Overall Sales Overview: 2021 vs. 2020

Altogether, the top 7 cities saw approx. 2,36,530 housing units sold in the whole of 2021, against 1,38,350 units in 2020 – a hefty increase of 71%.

• MMR saw maximum yearly sales of approx. 76,400 units among the top cities. City sales increased by 72% – from 44,320 units in 2020 to 76,400 units in 2021 (due to a significant increase of 88% in new launch supply)
• Hyderabad saw a huge 197% increase in sales – from 8,560 units in 2020 to 25,410 in 2021
• NCR saw sales increase by 73% – from 23,210 units in 2020 to 40,050 units in 2021
• Pune saw a significant sales increase of 53% – from 23,460 units in 2020 to 35,980 units in 2021
• Bengaluru saw sales increase by 33% – from 24,910 units in 2020 to 33,080 units in 2021
• Chennai saw a hefty 86% increase in sales – from 6,740 units in 2020 to 12,530 units in 2021
• Kolkata saw an 83% increase in sales – from 7,150 units in 2020 to 13,080 units in 2021

Housing Inventory Status – 2021-end:

Increased launches and overall absorption in the top 7 cities in 2021, when compared to 2020, resulted in minor changes in available inventory. However, compared to 2019, there has been a 2% reduction in available inventory by the end of 2021. Data indicates that the top 7 cities altogether have total unsold stock of approx. 6.38 lakh units as of 2021-end. Among the top 7 cities, MMR and NCR saw a yearly decline of 10% and 5%, respectively.

Price Movements

Average residential property prices across the top cities increased by 3-5% in 2021 compared to 2020. Bengaluru and MMR witnessed the highest price increase of 5%, while Chennai and Kolkata witnessed a 3% increase.

Also Read: 10 Most Expensive Real Estate Deals of India in 2021

The post Which City Sold the highest number of Homes in 2021? appeared first on Square Feat India.

By Varun Singh

After a long halt, finally registration offices started functioning in Mumbai. Due to the Corona virus pandemic in the country a lockdown has been imposed.

During the lockdown these offices in Mumbai were also shut. However, on Monday 10 offices started functioning.

Omprakash Deshmukh, IGR, confirmed that 10 offices in Mumbai were opened. “We opened the offices in the city of Mumbai. There are 10 such offices that have been opened, offices in containment zones are shut as they cannot be opened,” he said.

According to data available a total of 487 documents were registered with these 10 offices in the city.

481 documents registered are that of leave and license (e-registration), three are that of conveyance (sales) and remaining three are agreement relating to deposit of title deeds.

The ten offices opened include registration office Mumbai city 1, Mumbai city 2, Mumbai city marriage registration office, offices of Andheri 2, Andheri 3, Andheri 4, office of Borivali 7, office of Kurla 4 and marriage registration office of Mumbai suburban district.

These offices are open from 10 am to 5 pm for registration purposes.

The total revenue collected from the 487 documents registered stands at close to Rs 23.74 lakh.

Till Monday only 1 document was registered in Mumbai. This was a leave and license document which had fetched a mere Rs 424.

In April month only 27 documents fetching Rs Rs 43,547 were registered with the offices. The amount stood at Rs 377 crore in March.

With the offices for registering of documents starting again, there’s a hope that the state will get a decent revenue.

Also Read: Only 1 registration in Mumbai in 10 days of May

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