This is the fourth such report that has shown fall in housing sales during the third quarter of the 2019 calendar year
Housing sales declined 25 per cent in nine major cities to 65,799 units during July-September quarter, while new launches fell 45 per cent as consumers sentiments and demand remained subdued, according to property brokerage firm PropTiger. Earlier this month, Anarock and JLL India also reported 18 per cent and one per cent, respectively, decline in housing sales during July-September period across seven major cities. In its report 'Real Insight', News Corp-backed PropTiger said that housing sales declined to 65,799 units during July-September 2019 from 88,078 units in the same period last year. New launches fell to 33,883 units from 61,679 units during the period under review. These cities are -- Mumbai Metropolitan Region (including Navi Mumbai & Thane), Pune, Noida (including Greater Noida & Yamuna Expressway), Gurugram (including Bhiwadi, Dharuhera & Sohna), Bengaluru, Chennai, Hyderabad, Kolkata and Ahmedabad. "New launches continued to show a downward trend in the ...
The nine cities included in the study are Gurugram, Noida, Mumbai, Kolkata, Pune, Hyderabad, Bengaluru, Thane and Chennai
Overall, sales rose by 30 per cent in nine cities to 73,691 units during October-December quarter of 2018-19 fiscal compared to 56,696 units in the year-ago period
Overall, in the seven cities tracked by the consultant, housing sales went up by 18 per cent to 2,48,310 units during 2018 from 2,11,130 units in the previous year
The realty sector is currently on the upswing, primarily for ready-to-move housing units or the projects that are nearing competition due to low-risk factors attached to them
Higher sales volumes resulted in drop in the number of unsold units by 11 per cent to nearly 470,000 units
The nine cities tracked by News Corp-backed PropTiger are -- Mumbai, Pune, Noida, Gurgaon, Bengaluru, Chennai, Hyderabad, Kolkata and Ahmedabad
Experts say sales will be higher this time but liquidity crunch in HFCs may hinder recovery
Housing sales got affected last year on the adverse impact of notes ban as well as implementation issues with the new realty law Rera that came into effect from May 2017 and the GST
PNB Housing Finance is one of the few deposit-taking housing finance companies
Housing sales were higher than the new launches in six quarters but were lower in last two quarters
These eight cities are Gurgaon, Noida, Mumbai, Kolkata, Pune, Hyderabad, Bengaluru and Chennai
Delays in projects execution are forcing buyers to protest & file cases against developers in courts
Housing sales stood at 43,500 units in the October- December quarter
Housing sales stood at 28,472 units during the October- December quarter in eight major cities
Home launches dip 40% in eight major cities
The city also witnessed an 8% dip in new residential housing projects launch in the second half of 2016
Real estate market is facing a slowdown from the last 3-4 years leading to significant delays in completion of projects and protest by home buyers