In Mumbai, Oberoi Realty recorded a more than two-fold increase in sales bookings to Rs 1,965 crore for the third quarter ended December, owing to increased demand.
Oberoi Realty published a summary of reservations for the third quarter of this financial year in regulatory filings on Friday (on a consolidated basis). The company's sales bookings increased to Rs 1,965 crore in the October-December quarter, up from Rs 971 crore the previous quarter.
Oberoi Realty sold 371 units in the last quarter, up from 234 in the previous quarter. The company's sales bookings more than doubled in the first nine months of 2021-22, to Rs 2,964 crore from Rs 1,323 crore the previous year. It sold 610 units from April to December in 2021-22, compared to 284 units during the last fiscal year.
Macrotech Developers reported a 40% growth in sales bookings to Rs 2,608 crore in the third quarter of this fiscal year, compared to Rs 1,862 crore the previous year. According to property advisors, housing demand has rebounded dramatically throughout the leading 7-8 cities, following the second wave of the COVID pandemic, which affected sales in April-June last year.
The market share of trusted real estate developers in the overall housing sales is gradually increasing as homebuyers have become risk-averse. As per reports of various consultants, housing sales in the 2021 calendar year increased sharply by 50-70 per cent from the previous year. However, sales are yet to reach the 2019 pre-COVID levels.
As home buyers have become more risk-averse, the market proportion of reputable real estate developers in overall housing sales is gradually expanding. According to numerous consultants' reports, housing sales in the calendar year 2021 climbed by 50-70 per cent over the previous year. However, sales have yet to approach pre-COVID levels in 2019.