Mumbai tops residential real estate market recovery in Q1 FY22

05 Aug 2021 CW Team

The residential real estate market, being impacted hard by lockdowns and travel restrictions in April and May, recovered quickly once the restrictions were lifted.

While overall sales in major markets fell in the April-June quarter, the total offtake increased significantly in 2020.

The housing market is on the mend, led by two prominent markets Mumbai and Bengaluru that were hard hit during the second wave of Covid-19.

According to the most recent Knight Frank data, property registration in the largest market, the Mumbai Metropolitan Region (MMR) reached a decadal high in July. With 9,037 registrations, July saw the highest number of registrations since 2011.

Residential unit sales in Mumbai increased 1% in the April-June quarter over the previous quarter, according to property consultant JLL. Quarter-on-quarter (QoQ), new product launches increased by 33%.

It jumped by 47% in Bengaluru. Property registrations in Mumbai have risen steadily since May, according to Shishir Baijal, chairman and managing director of Knight Frank India. In April-June, home sales in Delhi-NCR fell by 55% QoQ.

Concerns have also been raised about the plan of the Uttar Pradesh government to increase circle rates by up to 40% in the Noida-Greater Noida region and along the Yamuna Expressway.

It has also proposed a 5-12.5% surcharge on properties near the e-way or along the Metro route. The real estate market in the National Capital Region has only recently begun to recover.

Overall sales in the top seven markets fell by 23% QoQ but increased by 83% year over year (YoY).

Total sales increased 18% YoY to 45,218 units in the first half (H1) of 2021, compared to the first wave in 2020, as the market proved more resilient to the second wave.

Despite the increase, the 2021 figures fell short of the pre-Covid levels. In comparison to H1 of 2019, the latest figures are 42% lower and are on par with H2 of 2017.

In the first half of 2021, new launches increased by 71% year over year.

Image Source

Also read: Real estate sector records PE investments of over $2.9 bn in H1 2021

Also read: Commercial real estate picking momentum in top cities

The residential real estate market, being impacted hard by lockdowns and travel restrictions in April and May, recovered quickly once the restrictions were lifted. While overall sales in major markets fell in the April-June quarter, the total offtake increased significantly in 2020. The housing market is on the mend, led by two prominent markets Mumbai and Bengaluru that were hard hit during the second wave of Covid-19. According to the most recent Knight Frank data, property registration in the largest market, the Mumbai Metropolitan Region (MMR) reached a decadal high in July. With 9,037 registrations, July saw the highest number of registrations since 2011. Residential unit sales in Mumbai increased 1% in the April-June quarter over the previous quarter, according to property consultant JLL. Quarter-on-quarter (QoQ), new product launches increased by 33%. It jumped by 47% in Bengaluru. Property registrations in Mumbai have risen steadily since May, according to Shishir Baijal, chairman and managing director of Knight Frank India. In April-June, home sales in Delhi-NCR fell by 55% QoQ. Concerns have also been raised about the plan of the Uttar Pradesh government to increase circle rates by up to 40% in the Noida-Greater Noida region and along the Yamuna Expressway. It has also proposed a 5-12.5% surcharge on properties near the e-way or along the Metro route. The real estate market in the National Capital Region has only recently begun to recover. Overall sales in the top seven markets fell by 23% QoQ but increased by 83% year over year (YoY). Total sales increased 18% YoY to 45,218 units in the first half (H1) of 2021, compared to the first wave in 2020, as the market proved more resilient to the second wave. Despite the increase, the 2021 figures fell short of the pre-Covid levels. In comparison to H1 of 2019, the latest figures are 42% lower and are on par with H2 of 2017. In the first half of 2021, new launches increased by 71% year over year. Image Source Also read: Real estate sector records PE investments of over $2.9 bn in H1 2021 Also read: Commercial real estate picking momentum in top cities

Infrastructure Urban

09 Jan 2026

Jyoti Structures Commissions Galvanisation at Second Nashik Unit

Jyoti Structures has commissioned galvanisation operations at its second tower manufacturing unit in Nashik, strengthening its in-house capabilities across critical stages of power transmission infrastructure production. The listed Engineering, Procurement and Construction (EPC) company operates globally and has delivered projects for customers across more than 50 countries.The second Nashik unit, with an annual manufacturing capacity of 36,000 metric tonnes, has become operational following the completion of installation, testing and readiness of the new galvanising facilities. With this deve..

Infrastructure Energy

09 Jan 2026

Rosatom Connects First Kursk NPP-2 Unit to National Grid

Rosatom has launched the first power unit of the Kursk Nuclear Power Plant-2 (Kursk NPP-2) into Russia’s Unified Energy System, marking a key milestone in the country’s nuclear energy programme. The initial grid connection took place at the end of the year, bringing a new source of low-carbon electricity online for the Kursk region and the broader Central Energy System.The newly commissioned unit is the first implementation of the VVER-TOI reactor design, which incorporates advanced safety and performance features. With an installed capacity of 1,250 MW, it is the most powerful nuclear pow..

Infrastructure Urban

09 Jan 2026

TOTO Crosses 70 Million WASHLET Sales as India Fuels Growth

TOTO has announced that global shipments of its WASHLET range have surpassed 70 million units, marking a major milestone in the brand’s more than four decades of innovation in bathroom hygiene and wellness. Headquartered in Japan, the company supplies WASHLET products across residential and public restroom applications in over 100 countries, with rising demand across the Americas, Europe and Asia.The milestone reflects a global shift toward higher standards of hygiene, comfort and wellness. While overall demand continues to grow worldwide, India has emerged as one of TOTO’s fastest-growing..