Moneycontrol PRO
you are here: HomeNewsBusiness

Housing sales up 49% in July-September across 8 major cities: PropTiger

Housing sales were badly impacted during 2020 because of the COVID-19 pandemic. However, demand has improved from July last year amid a decline in COVID cases.

September 29, 2022 / 11:33 AM IST
Representative Image

Representative Image

Housing sales have risen 49 per cent year-on-year to 83,220 units in the July-September period across eight major cities on pent up demand, despite rise in interest rates and property prices, according to

Sales stood at 55,910 units in the same quarter last year.

The sales have surpassed the pre-pandemic levels of 2019’s Q3 (July – September), housing brokerage firm said on Thursday in its quarterly report Real Insight Residential — July-September 2022.

"The real estate industry is bouncing back from the pandemic and subsequent disruptions," said Vikas Wadhawan, Group CFO,, and

Despite the slight increase in overall interest rates, he said the demand for housing has not dipped. He attributed the rise in demand to renewed thrust towards home ownership.

COVID-19 Vaccine

Frequently Asked Questions

View more
How does a vaccine work?

A vaccine works by mimicking a natural infection. A vaccine not only induces immune response to protect people from any future COVID-19 infection, but also helps quickly build herd immunity to put an end to the pandemic. Herd immunity occurs when a sufficient percentage of a population becomes immune to a disease, making the spread of disease from person to person unlikely. The good news is that SARS-CoV-2 virus has been fairly stable, which increases the viability of a vaccine.

How many types of vaccines are there?

There are broadly four types of vaccine — one, a vaccine based on the whole virus (this could be either inactivated, or an attenuated [weakened] virus vaccine); two, a non-replicating viral vector vaccine that uses a benign virus as vector that carries the antigen of SARS-CoV; three, nucleic-acid vaccines that have genetic material like DNA and RNA of antigens like spike protein given to a person, helping human cells decode genetic material and produce the vaccine; and four, protein subunit vaccine wherein the recombinant proteins of SARS-COV-2 along with an adjuvant (booster) is given as a vaccine.

What does it take to develop a vaccine of this kind?

Vaccine development is a long, complex process. Unlike drugs that are given to people with a diseased, vaccines are given to healthy people and also vulnerable sections such as children, pregnant women and the elderly. So rigorous tests are compulsory. History says that the fastest time it took to develop a vaccine is five years, but it usually takes double or sometimes triple that time.

View more

As per the data, housing sales in Mumbai jumped over two-fold to 28,800 units in the third quarter of this calendar year, from 14,160 units in the corresponding period of the previous year. Pune witnessed 55 per cent growth in sales to 15,700 units from 10,130 units, Delhi NCR saw 22 per cent increase in housing sales to 5,430 units from 4,460 units.

Sales in Ahmedabad rose 44 per cent to 7,880 units in July-September 2022, from 5,480 units in the year-ago period. In Bengaluru, the sales of residential properties increased 20 per cent to 7,890 units from 6,550 units.

Housing sales in Hyderabad rose 35 per cent to 10,570 units from 7,810 units. However, PropTiger data showed that sales dropped by 5 per cent each in Chennai and Kolkata.

Housing sales in Chennai fell to 4,420 units from 4,670 units. The sales of residential properties in Kolkata declined to 2,530 units in July-September this year, from 2,650 units in the year-ago period.

Ankita Sood, Head of Research, and, said the trends signal for a positive outlook for residential realty in the coming quarters. "… Demand will continue to strengthen on the back of levers such as festive discounts and flexible payment plans, underpinned by the renewed importance of home ownership," she said.

Housing sales were badly impacted during 2020 because of the COVID-19 pandemic. However, demand has improved from July last year amid a decline in COVID cases.