Buyers are not affected due to expensive home and loan, demand increased in these cities

According to the data, housing sales in Mumbai stood at 28,800 units in the July-September quarter, more than double the 14,160 units in the same period last year.

Demand for houses increased in 8 cities of the country

Homes and loans may be getting expensive but they are not showing any effect on the buyers. According to a report by housing brokerage company PropTiger.com Property The demand for homes in the eight major cities of the country remains strong, despite the hike in prices and hike in interest rates. And the demand for property has increased to the level before Corona. The report said that during the July-September period, home sales in these eight major cities grew by 49 per cent year-on-year to 83,220 units. According to the report, 55,910 units were sold in the same period last year. According to PropTiger.com, the current housing sales are higher than the level before the pandemic in the same quarter of 2019.

Sector coming out of the impact of the epidemic

Vikas Wadhawan, Group Chief Financial Officer, PropTiger.com, Housing.com and Makaan.com, said that the real estate industry is now recovering from the pandemic and the disruptions caused by it. The Wadhawans said that despite the increase in interest rates, the demand for housing has not come down. He said that people want to take their house and this is the reason for the increase in demand. The company’s head of research, Ankita Sood, said that the trends in the coming quarters for residential realty remain positive. During this, the fastest growth has been seen in Mumbai. Also, demand has increased in Pune, Delhi-NCR, Ahmedabad and Bangalore. On the other hand, there has been a decline in demand in Chennai and Kolkata.

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How were the sales figures of the cities

According to the data, housing sales in Mumbai stood at 28,800 units in the July-September quarter, more than double the 14,160 units in the same period last year. Sales in Pune increased by 55 per cent to 15,700 units as against 10,130 units last year. In Delhi-NCR, it increased by 22 per cent to 5,430 units as against 4,460 units last year. Housing sales in Ahmedabad increased by 44 per cent to 7,880 units this year as compared to 5,480 units in July-August last year. In Bengaluru, it increased by 20 per cent to 7,890 units from 6,550 units last year. Housing sales in Hyderabad increased by 35 per cent to 10,570 units as against 7,810 units last year. According to the data, housing sales in Chennai and Kolkata declined by five per cent each. In Chennai, it has come down to 4,420 units this year as compared to 4,670 units last year. Between July and September last year, 2,650 units were sold in Kolkata, which declined to 2,530 units this year.