The agency emphasised that the overall sales in FY22 could still be around 14 per cent below FY20 level.
New housing supply, too, is likely to fall 46 per cent to 1.28 lakh units in 2020 in seven cities -- Delhi-NCR, Mumbai Metropolitan Region (MMR), Pune, Bengaluru, Hyderabad, Chennai, and Kolkata.
On a sequential basis, housing sales rose 34 percent to 14,415 units during the July-September period of this year as compared to 10,753 units in the April-June quarter.
The pandemic would also adversely impact commercial (office and retail) real estate segment, which had been performing well during the last few years despite slowdown in the overall property market
To mitigate the impact, developers and brokers are adopting digital marketing tools to reach out to prospective home buyers.
The growth in capital values of residential properties remained positive over the last six years despite weak investor sentiments, political instability and Telangana State agitation.
The expert said the positive impact on real estate is that "now even secondary transactions have converted to banking channel as there is no cash available".