At INR 8084 Cr Inventory Sold, H1 2021 Sales Rose 80% Over Previous Year
Mumbai, October At approx. 9000 units sold, leading real estate services consultancy ANAROCK Group saw its sales increase by 80% in H1 2021 as compared to the same period in 2020. Of the total of INR 8084 Cr worth of inventory sold, affordable housing constituted 20% of ANAROCK Group’s sales so far.
The average ticket size of units sold was at Rs. 90 Lacs across the 13 cities of operation, which stayed consistent as compared to H1 of previous financial year. This dynamic stayed in line with the homebuyers’ focus on large homes to accommodate for WFH, open spaces, and e-schooling.
Santhosh Kumar, Vice Chairman – ANAROCK Group says, “Since its inception in 2017, ANAROCK has successfully serviced 592 exclusive mandates on behalf of quality A developers, with 108 in H1 2021 alone. The increased sales velocity and market uptake are very visible in the growth of inventory value transacted – INR 8084 Cr in H1 2021 over INR 4446 Cr last year, which is an increase of 80%. While Q1 of FY 2021 contributed 1/4th of the overall sales and revenues, Q2 saw these figures almost triple.”
MMR alone contributed almost INR 5000 Cr of sales value within H1 of this financial year. Next came the combined market of NCR amounting to INR 832 Cr of sales value. Bengaluru was next highest amounting to INR 657 Cr worth of sales value.
The remaining cities of Pune, Ahmedabad, Hyderabad, Chennai, Lucknow, and Kolkata all contributed in part towards ANAROCK Group clocking in 8000+ Cr of sales value in H1 2021.
ANAROCK also saw continued interest in the super luxury market of INR 10 Cr+ inventory, which in total contributed to almost 10% of the sales value so far. While the luxury market of INR 2.5+ Cr inventory has contributed almost 20% of the sales value so far.
Interestingly, with more and more millennials buying homes, they have constituted a sizable 40% of the customer base in H1 2021 for ANAROCK Group sales. Also, working professionals constituted 70% of the home buyers, while business owners accounted for 25% of buyers, with the other 5% being retirees or other non-working individuals.
Assuming that residential sales velocity remains the same as seen throughout Q2 2021, ANAROCK expects to double its revenue via housing sales by the end of H2 2021. The ongoing festive quarter will see at least 35-40% yearly rise in overall housing sales across the top cities.
In CY Q3 2021, the top seven cities saw total housing sales of approx. 62,800 units — already the best quarterly sales since the pandemic. Previously as a high in Q4 2020, the top seven cities saw total housing sales of about 50,900 units.