Home sales drop 43% in top 7 cities; hopes now on festive season

Top seven cities saw homes worth Rs 88,730 crore sold in the first three quarters of 2020 as against nearly Rs 1,54,320 crore in the corresponding period of 2019. This is a 43 per cent decline with total value reduction amounting to approximately Rs 65,590 crore during the period.

Between January to September 2020, 87,460 units were sold across the top seven cities as compared to 2.02 lakh units sold a year ago.

Q3 2020 saw home sales values increase by more than 2.3 times to Rs 29,731 crore - up from Rs 12,694 crore in the preceding quarter. Q1 2020 saw home sales worth nearly Rs 46,306 crore. The upcoming festive quarter probably may see home sales values go up.

The Mumbai Metropolitan Region saw the highest sales worth Rs 49,313 crore in the first three quarters of 2020.