Luxury home sales in Delhi-NCR up 54% in Feb: Report

The report also noted that the luxury home sales witnessed an increase in most the top markets in February.

New Delhi: Sales of luxury housing units in Delhi-NCR increased 54 per cent on a year-on-year basis in February, revealed a PropEquity report.

A total of 1,095 luxury units were sold in Delhi-NCR during the month under review, compared to 709 units sold during the same period of last year.

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The report also noted that the luxury home sales witnessed an increase in most the top markets in February.

Bengaluru, Chennai, Kolkata, Mumbai Metropolitan Region (MMR) and Pune witnessed the rise in home sales by 13 per cent, 8 per cent, 7 per cent, 37 per cent and 12 per cent, respectively during the same period.

Only Hyderabad witnessed an 8 per cent downfall of sales among the top markets from 1,455 units in February 2020 to 1,337 units in February 2021.

“Housing market has been improving over the last few quarters and our data has suggested that home sales will continue to see growth in 2021. India is also undertaking the largest vaccine drive for Covid-19 and as we cover more and more population, we will witness a decent rise in demand,” said Samir Jasuja, MD and Founder of PropEquity.

Commenting on the improvement in demand, Ankush Kaul, President (Sales & Marketing), Ambience Group said: “We have been witnessing a continuous improvement in market sentiments for luxury housing.

As market fundamentals improve further, home loan interest rates at attractive levels and encouraging GDP numbers for the country, we foresee growth and brisk momentum to continue, he added.