Real estate sector sees robust sales; prices likely to rise; experts discuss

The real estate sector witnessed a robust demand during June and July 2021 with the residential sales surging 83 percent YoY. Meanwhile, property registration in Mumbai also jumped to a 10-year high.

Anuj Puri, Chairman of ANAROCK Property Consultants believes that investors are using gains from the stock market to buy real estate.

Speaking to CNBC-TV18, Puri said, “Indian residential market is sizzling at this point in time and in select products, prices are going to go up. Those products where there is a financial closure, those inventories which are either completed because that is where the rush is or within 6-9 months of completion those inventories where the financial closure has already happened and that is where we are going to see price rise happening.”