A roaring recovery for realty sector from the pandemic: A CRISIL analysis

CRISIL's affordability index, MAHTI- which is the minimum income a household requires to buy a house in a city - has improved across all cities.

CRISIL expects residential real estate to see a moderation in growth rate to 5-10 per cent in fiscal 2023 translating into sales of about 205-215 msf in the top-six cities of India — Bengaluru, Pune, Hyderabad, Kolkata, Mumbai Metropolitan Region (MMR) and National Capital Region (NCR) — as interest rates start inching up and on a high base of fiscal 2022. Sales are expected to dart up 30-35 per cent to about 190-200 msf in fiscal 2022, after declining a 17-22 per cent in fiscal 2021.

It should surpass the pre-Covid-19 levels of 170-180 msf, due to a strong consumer pull