Deals or distress: Realtors expect 25-30% jump in sales this festive season

Home sales grew 67 per cent in the first half of 2021 due to growth in markets like Pune and Mumbai

The fear of a third Covid wave notwithstanding, real estate developers expect a 25 to 30 per cent jump in residential sales during the festive season. The reason being continued momentum in sales in the last couple of months due to stamp duty cuts in some states, lower interest rates, discounts and offers, demand for larger homes to accommodate work from home and so on.

Last year's festive season was not great for property developers as the pandemic hit residential sales.

Mohit Malhotra, managing director and CEO at Godrej Properties, said the overall sentiment is quite positive. “Historically, this period has given