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Real estate consultants Anarock said that it sold residential properties worth Rs 8,084 crore on behalf of developers during April to September of the current fiscal year, which was 82% higher YoY. This was due to the revival of demand especially in Mumbai Metropolitan Region (MMR). The home grown housing brokerage firm had sold properties worth Rs 4,446 crore in the April to September period of the last fiscal. The increased sales velocity and market uptake are very visible in the growth of inventory value transacted, the Mumbai-based firm said.
Millennials have bought more properties
In the first half of this fiscal, the company sold around 9,000 units, with the average ticket size of units sold being at Rs 90 lakh across the 13 cities of operation.
Within the first half of the current financial year, MMR alone contributed almost Rs 5,000 crore of sales value, followed by Delhi-NCR amounting to Rs 832 crore sales value and Bengaluru at Rs 657 crore.
Anarock is witnessing a continued interest in the super luxury market of Rs 10 crore including inventory, which in total contributed to almost 10% of the sales value so far. The luxury units of Rs 2.5 crore plus contributed almost 20% of the sales value at present.
The company also said that millennials have constituted a sizeable 40% of the customer base under the Anarock group sales in the first half of 2021. Also, working professionals constituted 70% of the home buyers, while business owners accounted for 25% of buyers, and retirees or other non working individuals were 5%.
Despite the pandemic, Anarock had clocked an 18% increase in its revenue at around Rs 305 crore during the financial year of 2020-21.