By Aditya Raghunath
Investing.com -- A report by Anarock said that housing sales in India’s top 7 cities went up 29% in the first quarter of 2021 compared to the corresponding quarter in 2020. Total number of homes sold in Q1 2021 were 58,290 compared to 45,200 in Q1 2020.
Mumbai Metropolitan Region (MMR) and Pune accounted for 53% of sales in this period. MMR sales went up 46% while Pune went up 47%. Hyderabad recorded the highest increase in sales at 64% from 2,680 sales in Q1 2020 to 4,400 sales in Q1 2021. Chennai saw an increase of 30% while Kolkata and NCR saw their numbers go up 10% and 8% respectively. Bengaluru was the only city where there was hardly any increase in sales from 8,630 sales in Q1 2020 to just 8,670 in Q1 2021.
Real estate stocks that had fallen in April and May have started to recover and while some of them are still not at their pre-second wave levels, they have got back a little momentum.
DLF Ltd (NS: DLF ) is up 19% from its May 14 close of Rs 250.55 to Rs 296.8 on June 22. Godrej Properties Ltd (NS: GODR ) is at Rs 1,401.9 from Rs 1,221.1, an increase of 15%. Oberoi Realty Ltd (NS: OEBO ) is up 15% from Rs 533.25 to Rs 612.75. The Phoenix Mills Ltd. (NS: PHOE ) has gained 12% from Rs 729.35 to Rs 820.95. Indiabulls (NS: INBF ) Real Estate Ltd (NS: INRL ) has gained the most at 40% from Rs 81.35 to Rs 114.6.
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