The property sales for the island city in the month of June have grown over 20% YoY. The sales data surpassing the qualified registered data of 9500 units is quite encouraging. The robust sales trend is despite the rate hikes by the RBI in the month of May and June.
The growth in sales is across top markets and segments. Robust new project launches, easy availability of home loans, and the renewed importance of owning a home in the connected locality and integrated townships are the key reasons for the high consumer confidence when it comes to real estate.
Going forward, the government's focus on Housing for all, completion of key infra projects, and the upcoming festive season are likely to keep home demand high. The hike in home loan rates is likely to be offset by the availability of good projects at the right price.
