The supply of new units also dropped by 81% during the period to 11,967.
Gurugram saw 79 per cent fall to 361 units for the period under review as compared to 1,707 units in same period last year
New launches may plunge by 98% to only 1,390 units as against nearly 69,000 units in the corresponding period of 2019
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
Sales bookings of DLF, Sobha, Puravankara, Prestige Estates, Brigade Enterprises, Mahindra Lifespace Developers, Godrej Properties, Oberoi Realty and Kolte Patil have been taken into account
Sales and new launches fell further on a low base
Housing brokerage firm PropTiger recently reported 30 per cent fall in sales in nine cities during the October-December quarter
According to major real estate players, there has been a sharp increase in enquiries over the past few weeks
In the last quarter, home sales had fallen 13 per cent on a yearly basis
Housing sales rose by a mere 5% to 2,61,370 units in 2019 across seven major cities compared to 2,48,310 units in the previous year
From India's December WPI figures to Wipro's Q3 results, here are the day's top headlines
Sales in the residential property market fell 13 per cent to 2,63,294 units during the first nine months of this fiscal as against 228,220 units in the corresponding period of the previous year
The residential property market in top eight cities recorded a growth of 1% year-on-year in sales volume in 2019
Across seven major cities, sales rose by 5 per cent to 2,61,370 units in 2019 compared to 2,48,310 units in the previous year
Luxury and ultra-luxury segments remained limited to end-user interest, with no serious investor activity.
On quarterly basis, their housing sales value increased 5 per cent from Rs 5,250 crore in the first quarter of 2019-20 to nearly Rs 5,520 crore in the second quarter.
According to the Anarock report, these nine players together achieved a sales bookings of Rs 22,800 crore in the entire 2018-19
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