The real estate sector in the country is on a recovery phase from the adverse impact of the Covid-19 if the sale of supply of new homes to the project and their sales are any indication. The improved conditions send feelers to the effect that developers are entering the property market with enthusiasm. The demand for properties is in full swing injecting acceleration in the realty sector.
The experts say that these developments indicate congenial atmosphere to make investments in the real estate sector. The last quarter recorded a growth of 0.4 percent in the prices, compared to the growth of 0.3 per cent in the corresponding quarter last year. In June 2022, the escalation of prices of properties was at its maximum of 2.8 percent. During the past six months, the property sales in eight main cities registered considerable growth.
Compared to the increase in sales in 2017, this year second quarter registered more sales. The sale of units in June 2022 was just less than 8 to 9 percent compared to the sales in February 2020. In Mumbai, the sale of properties increased by 22 per cent during January and June period. However, the growth is not along these lines in other cities. As the situation is turning around, the realty sector will pick up speed in other cities too, according to experts.
