New Delhi: The COVID-19 pandemic has slowed down the real estate market. Housing supply of residential properties fell by nearly 60 per cent between January and September this year.
Property consultant Anarock stated that fresh supply of homes across seven metros fell to 75,150 units from 1,84,700 units during the same period in 2019.
Supply of homes in Delhi NCR fell to 13,010 units in January-September 2020 from 27,390 units in the same period in 2019.
In Mumbai, the same number reduced to 18,380 units from 63,930 units. Bengaluru witnessed a drop to 15,020 units from 29,440 units, and Pune saw the number plunging to 12,720 units from 36,540 units.
Similarly, in Hyderabad, new houses reduced to 8,290 units from 11,050 units. In Chennai, the number decreased to 5,240 units from 9,580 units.
In Kolkata, it was 2,490 units this year compared to 6,770 units in the corresponding period previous year.
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