Sales of sub-Rs 50 lakh homes hit in 2021 as Covid bites: Knight Frank

During the early part of this year, sales volumes were greatly influenced by two markets - Mumbai and Pune that together constituted over 45 per cent of the total sales amongst key markets

Sales of homes priced less than Rs 50 lakh took a beating in the first half of 2021 as the country grappled with the Covid pandemic and potential buyers suffered loss of income, suggests the latest market assessment report ‘India Real Estate– Residential, January-June 2021’ by Knight Frank India. 

“The share of sales of homes costing less than Rs 50 lakhs in the overall sales of residential units reduced by around 500 basis points (bps) and constituted 42 per cent of all sales in the January-June 2021 period as compared to 47 per cent in the same period in 2020.