NCR home sales decline 62%

New Delhi, 13-Oct-2020

The ailing housing and property sector, which has been facing a deep financial crisis since 2018, is among the businesses hit hardest due to several months of lockdown. After a dismal performance in the first three quarters of 2020, the sector has pinned its hopes on the upcoming festive season. Housing sales have shown improvement in top cities including the National Capital Region (NCR) ahead of the festive season. There has been a sharp jump in sales in the third quarter of 2020 and the trend may continue, according to experts. However, the overall homebuyer sentiment in 2020 remains weak. Property consultant Anarock said homes worth approximately Rs 88,730 crore were sold in seven top cities in the first three quarters of 2020 in comparison with Rs 1,54,320 crore in the corresponding period in 2019 � a 43 per cent decline or a decrease of nearly Rs 65,590 crore. From January to September 2020, as many as 87,460 units were sold across the top 7 cities as against approximately 2.02 lakh units sold a year ago.