Real Estate Will Boom in 2021, New Houses Will Be Sold

House sales in seven major cities of the country may grow by 30 per cent year-on-year in 2021. New housing launches are expected to increase by 35 per cent during this period. However, it will take time for the sale of houses to reach the Pre-Covid-19 level. According to a report by property consultant Anarock, a total of 1,79,527 houses are likely to be sold in the seven cities of Delhi-NCR, Mumbai Metropolitan Region, Pune, Bangalore, Hyderabad, Chennai and Kolkata during 2021.

This figure is 30 percent more than the 1,38,344 houses sold in 2020. Earlier in 2019, a total of 2,61,358 houses were sold in these cities. The report has estimated that the house sales may increase to 2,64,625 units during 2022, while 3,17,550 units may be sold in 2023. However, this year the supply and sales of houses may be 28% and 31% lower respectively as compared to 2019.

New Commercial Project in Noida: Bhutani Cyberthum

Realty Sector To Set New Records in 2023: Anuj Puri, chairman of Anarock, said that the real estate sector was showing good year-on-year growth between 2017 and 2019, but the pandemic stopped this growth. Had it not been so, 2020 would have been a great year for the real estate sector. He said that considering the rapid pace of epidemic control and vaccination, it can be said that in 2023, the real estate sector will set new records as compared to 2019.

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