Housing sales fall by 58% in 2021: PropEquity

03 Aug 2021 CW Team

Stringent lockdown across major cities in India impacted housing sales as home registrations were also suspended including slow pace of home loan disbursals. Bengaluru, Chennai, Hyderabad, Kolkata, MMR, NCR and Pune are the cities where home sales witnessed a fall in Q2 2021 versus Q1 2021 at 55%, 59%, 49%, 57%, 63%, 43%, and 62% respectively.

Also, the new supply or new launches of housing units decreased by 54% in the same period to 34,053 units from Q1 2021 at 74,196 units. Bengaluru, Chennai, Hyderabad, Kolkata, MMR, NCR & Pune are the cities where 65%, 66%, 65%, 30%, 52%, 55%, and 38% respectively.

However, sales or absorption of housing units were up by 51% across top 7 cities in India in the second quarter of 2021 to 45,208 units versus 29,942 units in Q2 2020. Bengaluru, Chennai, Hyderabad, Kolkata, MMR, NCR & Pune are the cities where home sales witnessed a jump by 33%, 65%, 138%, 14%, 38%, 98%, and 39%.

“These are unprecedented times for the world economy and India is one of the hardest hit countries due to COVID-19 epidemic. Real estate sector which was slowly recovering by March was hit with the second wave. Going ahead, we may witness resizing of units, marketing-led discounts, amenities and special payment schemes to be offered by developers to boost demand, especially during the beginning of the festive season,” Mr Samir Jasuja, founder and managing director at PropEquity said.

Media Indicators (Top 7 regions)
Inventory	Q1 21	Q2 21	Q1 21 VS Q2 21
Opening Stock	7779821	745597	-90%
New Launched	74,196	34,053	-54%
Total Absorption	108420	45,208	-58%
Unsold Units	745597	734442	-1%

Cities Snapshot:

Bengaluru - India’s IT capital saw a downfall of 55% in home sales in Q2 2021 at 5,487. New Launches decreased by 65% at 3,203 units.

Chennai - Chennai saw a 59% downfall in home sales in Q2 2021 and new launches down by 66% to 1,440 units.

Hyderabad - Home sales witnessed a decrease of 49% in Q2 2021 at 1,603 units with new launches down by 65% to 5,016 units.

Kolkata - Surprisingly, Kolkata saw a decrease of 63% in home sales in Q2 2021 at 1,603 units with new launches down by 30% to 1,111 units.

MMR - The City of Dreams saw a decrease of 63% in home sales in the second quarter at 15,562 units, whereas new launches declined by 52% to 11,515 units.

NCR - Delhi NCR witnessed downfall in both home sales and new launches by 43% and 55% respectively in Q2 2021.

Pune - Pune witnessed a downfall of 58% in sales or absorption and decrease of 54% in new launches at 34,053 units in Q2 2021.

In a report released by PropEquity, India’s leading real estate data, research and analytics firm, sales or absorption fell by a massive 58% as India witnessed the major brunt of the COVID second wave in April and May. Stringent lockdown across major cities in India impacted housing sales as home registrations were also suspended including slow pace of home loan disbursals. Bengaluru, Chennai, Hyderabad, Kolkata, MMR, NCR and Pune are the cities where home sales witnessed a fall in Q2 2021 versus Q1 2021 at 55%, 59%, 49%, 57%, 63%, 43%, and 62% respectively. Also, the new supply or new launches of housing units decreased by 54% in the same period to 34,053 units from Q1 2021 at 74,196 units. Bengaluru, Chennai, Hyderabad, Kolkata, MMR, NCR & Pune are the cities where 65%, 66%, 65%, 30%, 52%, 55%, and 38% respectively. However, sales or absorption of housing units were up by 51% across top 7 cities in India in the second quarter of 2021 to 45,208 units versus 29,942 units in Q2 2020. Bengaluru, Chennai, Hyderabad, Kolkata, MMR, NCR & Pune are the cities where home sales witnessed a jump by 33%, 65%, 138%, 14%, 38%, 98%, and 39%. “These are unprecedented times for the world economy and India is one of the hardest hit countries due to COVID-19 epidemic. Real estate sector which was slowly recovering by March was hit with the second wave. Going ahead, we may witness resizing of units, marketing-led discounts, amenities and special payment schemes to be offered by developers to boost demand, especially during the beginning of the festive season,” Mr Samir Jasuja, founder and managing director at PropEquity said.Media Indicators (Top 7 regions)Inventory Q1 21 Q2 21 Q1 21 VS Q2 21Opening Stock 7779821 745597 -90%New Launched 74,196 34,053 -54%Total Absorption 108420 45,208 -58%Unsold Units 745597 734442 -1% Cities Snapshot: Bengaluru - India’s IT capital saw a downfall of 55% in home sales in Q2 2021 at 5,487. New Launches decreased by 65% at 3,203 units. Chennai - Chennai saw a 59% downfall in home sales in Q2 2021 and new launches down by 66% to 1,440 units. Hyderabad - Home sales witnessed a decrease of 49% in Q2 2021 at 1,603 units with new launches down by 65% to 5,016 units. Kolkata - Surprisingly, Kolkata saw a decrease of 63% in home sales in Q2 2021 at 1,603 units with new launches down by 30% to 1,111 units. MMR - The City of Dreams saw a decrease of 63% in home sales in the second quarter at 15,562 units, whereas new launches declined by 52% to 11,515 units. NCR - Delhi NCR witnessed downfall in both home sales and new launches by 43% and 55% respectively in Q2 2021. Pune - Pune witnessed a downfall of 58% in sales or absorption and decrease of 54% in new launches at 34,053 units in Q2 2021.

Infrastructure Urban

10 Mar 2026

ABB to Invest Rs 6.25 Billion to Expand India Manufacturing

ABB recently announced plans to invest approximately Rs 6.25 billion ($75 million) in India during 2026 to expand its manufacturing footprint and research and development capabilities. The investment follows more than $35 million spent in 2025 and reflects the company’s continued focus on strengthening its ‘local-for-local’ strategy in the country.The investment will support ABB’s Electrification, Motion and Automation businesses and expand manufacturing capacity for infrastructure sectors such as renewable energy, metro rail, data centres and industrial applications. Approximately 300..

Equipment

10 Mar 2026

Six WOLFF Cranes Handle 60,000 m³ Concrete for German Hospital

Six WOLFF tower cranes are playing a key role in constructing a new hospital complex in Memmingen, Germany, supporting large-scale material handling for the project. The facility is being built on a 7.7-hectare site and will feature six floors, around 480 beds and a gross floor area exceeding 75,000 sq m.Building shell works began recently in February 2025. One WOLFF 6531.12 Cross crane supported early site preparation before being dismantled in autumn 2025, while five remaining cranes continue operations. Over an average deployment period of 16 months, the cranes are expected to move approxim..

Equipment

10 Mar 2026

REC Funds Rs 115.6 Million CSR Support for Bihar Eye Hospital

REC recently committed Rs 115.6 million under its Corporate Social Responsibility (CSR) programme for the procurement of clinical and non-clinical equipment at Sankara Eye Hospital in Saharsa, Bihar. The initiative aims to strengthen healthcare infrastructure and improve access to specialised eye care services in the region.A Memorandum of Agreement (MoA) was recently signed between Pradeep Fellows, Executive Director (CSR), REC Limited, and Wg Cdr V. Shankar (Retd), Trustee and Executive Director of Sankara Eye Hospital, at the REC office in the SCOPE Complex, New Delhi.The support is expecte..