Home sales across major cities up 15% in April-June: Report

Sales of housing units across nine major cities in the country grew by 15 per cent during the April-June period compared to the previous January-March quarter, a report said here on Monday.

"The total absorption of housing units increased by 15 per cent across top nine cities in India in the second quarter of 2018 from 43,246 units to 49,945 units," according to a study by real estate consultancy firm PropEquity.

The study was done in Gurugram, Noida, Mumbai, Kolkata, Pune, Hyderabad, Bengaluru, Thane and Chennai.

"Real estate housing market across India continues to stabilise with developers in this quarter (April-June), clearing their older inventories and launching several new projects," said PropEquity founder and CEO Samir Jasuja.

The positive trend is expected to continue in the following quarters with new launches to pick up in 2018, he added.

According to the report, new launches increased by two per cent in the second quarter (Q2) of 2019 from 34,356 units in Q1 to 35,211 units in Q2.

"The unsold inventory dipped by two per cent from 6,31,195 to 6,16,461 units due to increased buyers interest in available units," the report said.

--IANS

rrb/mag/vm