Anuj Puri, Chairman of ANAROCK Group is a highly respected industry authority and thought leader with 30 years' experience in leveraging Indian and global real estate opportunities. His company ANAROCK has a staff complement of over 1800 qualified and experienced professional, with offices in all major markets in the country, dedicated services in Dubai and a global footprint with over 80,000 preferred channel partners.
Housing sales and new launches have plunged to a new low across India’s top 7 cities in Q2 2020.
If not for COVID-19, the top 7 cities were to see the delivery of nearly 4.66 lakh units by 2020-end.
So far, 2020 was a nightmare for most industries, including Indian real estate where COVID-19 collided with all segments, causing varying degrees of damage.
In a significant trend seen in the Indian housing sector over the last five years, the latest data points towards a reduced difference between the ready reckoner rates (RRR) and the actual market prices in the primary (sale by developer) segment in the top cities.
The COVID-19 era presents a radically transformed real estate market, with preferences changing to accommodate new market realities.
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