No major impact of fresh Covid wave on housing sales

Anarock Chairman, Anuj Puri said that the latest wave isn't affecting sales as much as the first two waves did. 

The year 2021 glimpsed a historic rebound for the Indian residential real estate market. 

He added that various reasons like low mortgage rates, few stamp duty cuts, strong economic recovery across industries, and the need for larger homes boosted the industry. 

Raina said the market might slow down marginally for 4-6 weeks, after which it will recover strongly, keeping sales for 2022 upbeat. 

Housing sales in major cities increased to 71 percent year-on-year in 2021 to 2,36,530 units but demand fell to pre-COVID-19 levels by 10 percent. 

Housing sales in 2020 were 1,38,350 units and 2,61,358 units in 2019. 

All major listed real estate developers documented a strong sales jump in the third quarter and April-December of this financial year. 

Earlier this month, realty firm DLF Ltd sold properties worth Rs 1,500 crore in its new luxury housing project in Delhi, within a few days of its launch. 

In January, DLF launched its luxury housing project 'One Midtown', including 913 units, in the national capital with a starting price of Rs 3 crores.