With housing sales,  new launches and private equity investment showing marked improvement, residential realty continues to have a promising run.

Corona pandemic had crippled residential real estate which witnessed a massive decline of over 70 percent during the June 2020 quarter. However the September 2020 quarter saw pick up in  residential sales and during festive quarter of December, residential real estate saw massive jump in sales . And this trend continues. The latest industry report of 7 top cities  by Prop Equity reveals that   the total sale of home units soared by 78 percent in Q4 2020  . As against 62197 units sold in Q3 2020 , as many as 1,10,811 units were sold in Q4 2020Sales in Q4 2020 Sales in Q4 2020 vs Q4 2019 increased by 25%. Sales in Bengaluru, Chennai, Hyderabad, Kolkata, MMR and Pune went up by 46%, 52%, 74%, 41%, 130% and 120% respectively on QoQ comparison.What is further encouraging for the residential realty is that investors interest is going up by the day.

Says Mr. Pradeep Aggarwal, Founder & Chairman, Signature Global Group and Chairman, Assocham National Council on Real Estate, Housing & Urban Development, “Housing continues to be end-user driven market in view of affordability of homes due to lowest ever interest rates with interest subsidy offered for affordable homes under PMAY. Further range bound prices and various deals offered by developers are driving home sales. Home buyers are going in for ready -to- move units with zero GST. Developers with good track record in terms of quality and timely delivery continue to sell their products. Now with vaccination taking place amidst receding Corona virus and expected budgetary support, residential realty will gain further momentum in the months ahead”.