According to PropEquity, an analytics and real estate data firm, home sales rose by 23% in top seven Indian cities over the first five month of 2021, from 1,32,818 units to 1,32,818 in 2020. This compares with 1,08,199 units in 2020.The majority of sales occurred between April 15 and 15.The cities of Bengaluru and Chennai, Hyderabad and MMR, where home sales experienced a growth of 16%, 40% and 39% respectively, in the first five months 2021 and 2020, are Pune, MMR, MMR, and Pune.Only Kolkata and NCR saw a decline of 11%, 20% and 21% in their home sales over the same period.The second wave of COVID-19, which saw NCR come to a halt to address the health crisis, had a significant impact on sales. The second wave of COVID-19 was followed by a strict lockdown that further affected housing sales. NCR saw a 20% drop in home sales during the first five months of 2021, at 9,106 units. New launches increased 50% to 7,815 units.View more COVID-19 Vaccine Commonly Asked Questions. The vaccine mimics a natural infection. A vaccine induces an immune response that protects people against future COVID-19 infections. It also builds herd immunity quickly to end the pandemic. A vaccine induces immunity in a sufficient number of people to prevent the spread of a disease. Good news is that the SARS-CoV-2 virus was relatively stable which makes it more likely that a vaccine will be developed. There are many vaccines. There are four main types of vaccines. One is a vaccine that is based on the entire virus. Two are vaccines that use a non-replicating virus vector. Three are nucleic-acid vaccines with genetic material such as DNA and RNA of the antigens. Four are protein subunit vaccines. These vaccines contain the recombinant SARS-COV-2 proteins along an adjuvant (booster). How long does it take for a vaccine to be developed? The process of developing a vaccine is complex and long. Vaccines are not given to patients with a specific disease, but are administered to healthy people as well as to vulnerable groups such children and pregnant women. It is mandatory to undergo rigorous testing. Although five years is the fastest time to develop a vaccine, it often takes twice as long or more. See moreThe number of new housing units launched or the supply of existing units fell by 24% during the same period, to 86/746 units, down from 1,13,699 units. This was because developers cleared out older stock and resized home offerings while they waited for an economic recovery.New launches in Chennai and NCR saw an increase of 20% and 50%, respectively, in the first five months 2021 and 2020. The analysis revealed that Pune, Bengaluru and Kolkata saw a decline in home sales of 35% and 28% respectively, as well as 28% and 28% for Kolkata, MMR and Hyderabad.MMR reported that there was a 29% increase in home sales over the first five months in 2021, at 51,040 units. New launches dropped by 31% to 30,290, but it saw MMR's home sales rise by 29%.India was hit hard by the worst COVID-19 waves in April and May, which halted almost all real estate activity in major cities. The worst is over as COVID-19-related deaths and infection have declined significantly, leading major cities to ease pandemic-related restrictions. The third wave of vaccinations has been increasing in speed and should have a limited impact. PropEquity's founder and managing director, Samir Jasuja, expects home sales to rebound faster because of the recovery.Now, we are seeing a resurgence in housing sales and new launches. Business is also slowly improving. Ankush Kaul (President, Sales & Marketing - Ambience Group) stated that sales of projects being offered by fundamentally solid developers will continue to improve in the coming quarter.
