Housing unit launches slump 54% in Q1 FY22

04 Aug 2021 CW Team

There was a drop of 65% in Bengaluru, 66% in Chennai, 65% in Hyderabad, 30% in Kolkata, 52% in MMR, 55% in NCR and 38% in Pune.

At the same time, as India bore the brunt of the COVID-19 second wave in April and May, sales or absorption fell by a staggering 58%.

As a result of the nationwide lockdown, home registrations were suspended, as was the slow pace of home loan disbursals. Samir Jasuja, founder and managing director at PropEquity cites that the country may see resizing of units, marketing-driven discounts, amenities, and special payment schemes offered by developers to boost demand, particularly during the holiday season.

Home sales fell by 65% in Bengaluru, 66% in Chennai, 65% in Hyderabad, 30% in Kolkata, 52% in Mumbai Metropolitan Region (MMR), 55% in National Capital Region, and 38% in Pune.

In the second quarter, sales or absorption of housing units in the major cities of the country increased by 51% to 45,208 units up from 29,942 units in Q2 of the previous year.

Home sales went up by 33%, 65%, 138%, 14%, 38%, 98% and 39% in Bengaluru, Chennai, Hyderabad, Kolkata, MMR, NCR, and Pune, respectively.

Home sales were severely impacted in Q2 as India attempted to manage the second wave of Covid-19 across the country by imposing strict lockdowns, according to Ankush Kaul, President (Sales & Marketing) of the Ambience Group.

This caused a brief halt in real estate transactions. However, from June onwards, housing demand has recovered and is steadily increasing at impressive rates.

This trend is expected to continue as long as the third wave of covid-19 does not have a significant impact, she added.

Image Source

Also read: Housing sales fall by 58% in 2021: PropEquity

According to a survey by PropEquity, a real estate data, research, and analytics organisation, housing unit launches decreased by 54% in the April-June quarter to 34,053 units, down from 74,196 units in the previous quarter.There was a drop of 65% in Bengaluru, 66% in Chennai, 65% in Hyderabad, 30% in Kolkata, 52% in MMR, 55% in NCR and 38% in Pune.At the same time, as India bore the brunt of the COVID-19 second wave in April and May, sales or absorption fell by a staggering 58%.As a result of the nationwide lockdown, home registrations were suspended, as was the slow pace of home loan disbursals. Samir Jasuja, founder and managing director at PropEquity cites that the country may see resizing of units, marketing-driven discounts, amenities, and special payment schemes offered by developers to boost demand, particularly during the holiday season.Home sales fell by 65% in Bengaluru, 66% in Chennai, 65% in Hyderabad, 30% in Kolkata, 52% in Mumbai Metropolitan Region (MMR), 55% in National Capital Region, and 38% in Pune.In the second quarter, sales or absorption of housing units in the major cities of the country increased by 51% to 45,208 units up from 29,942 units in Q2 of the previous year.Home sales went up by 33%, 65%, 138%, 14%, 38%, 98% and 39% in Bengaluru, Chennai, Hyderabad, Kolkata, MMR, NCR, and Pune, respectively.Home sales were severely impacted in Q2 as India attempted to manage the second wave of Covid-19 across the country by imposing strict lockdowns, according to Ankush Kaul, President (Sales & Marketing) of the Ambience Group.This caused a brief halt in real estate transactions. However, from June onwards, housing demand has recovered and is steadily increasing at impressive rates.This trend is expected to continue as long as the third wave of covid-19 does not have a significant impact, she added.Image SourceAlso read: Housing sales fall by 58% in 2021: PropEquity

Infrastructure Urban

17 Sep 2025

DCPC Prepares for Special Campaign 5.0 with Focus on E-Waste

The Department of Chemicals and Petrochemicals (DCPC), Ministry of Chemicals and Fertilisers, is gearing up for Special Campaign 5.0, to be held from 2nd to 31st October 2025. The initiative will focus on e-waste disposal as per MoEFCC’s E-Waste Management Rules 2022, space optimisation, and enhancing workplace efficiency across field offices.Special Campaign 4.0, conducted between October 2023 and October 2024, delivered notable results in record management, grievance redressal, scrap disposal, and cleanliness drives.Key outcomes of Special Campaign 4.0Records management: 2,443 physical fil..

Real Estate

17 Sep 2025

BlackRock India Leases 1.4 Lakh Sq Ft in Bengaluru

BlackRock Services India, the domestic arm of global asset manager BlackRock, has leased 1.4 lakh sq ft of office space at IndiQube Symphony in Bengaluru, according to Propstack data. The 10-year deal is valued at around Rs 4.10 billion.The lease, among the largest transactions in India’s co-working sector, highlights the growing preference of global institutions for flexible office providers. The agreement, commencing October 1, 2025, covers ground plus five floors in KNG Tower 1 at Ashoknagar, MG Road — one of Bengaluru’s prime commercial hubs.As per the lease document, BlackRock will ..

Infrastructure Transport

17 Sep 2025

L&T Bags Rs 25–50 Bn Order for Mumbai-Ahmedabad Bullet Train Track Works

Larsen & Toubro’s (L&T) Transportation Infrastructure business has secured an order valued between Rs 25 crore and Rs 50 billion from the National High Speed Rail Corporation Limited (NHSRCL) for the Mumbai-Ahmedabad High Speed Rail (MAHSR) corridor.The contract, Package T1, involves the design, supply, construction, testing, and commissioning of 156 route km of high-speed ballastless track on a Design-Build Lump Sum Price basis. The stretch runs from Mumbai’s Bandra-Kurla Complex to Zaroli village in Gujarat and includes 21 km of underground track and 135 km of elevated viaduct.Se..