The real estate sector, especially the residential domain boomed post-pandemic to an all-time high in 2015. The low-interest rates and the pandemic effect are believed to be the reasons for the accelerated growth of the sector. Residential real estate has been one of the prime investment options in our country and is one of the most valued assets.

As per the latest reports from ANAROCK research, the major 7 cities alone contributed close to 1 lakh units added in the housing sector. The given data also shows an increase of 71% compared to the Q1 results of 2021. In the seven prime cities, Mumbai and NCR contributed close to 50% of the residential units sold which is on expected lines with New Delhi doubling the growth rate. Anuj Puri, Chairman of the ANAROCK Group opined that the lesser impact of the third wave, maybe one of the prime reasons for the bull run in the housing market, and also the pandemic gave the impetus for people to own residential property for financial reasons.

As per the reports, the new units added also increase but at the same time showed a variation in the cities supporting the new addition with Hyderabad leading and MMR supporting the increase in numbers. Prestige group Chief Executive officer Venkat K Narayan also expressed the confidence in the group expanding its sales in 2022 with the addition of 15 million sq. ft from the group through its new projects and revival of the projects in the pipeline. While the demand is rising, Prestige is launching a brand new apartment space in Whitefield – Prestige Elm Park