Home sales in the July-September quarter in nine major cities of the country fell by 25 per cent to 65,799. According to the report ‘Real Insight’ by brokerage firm Prop Tiger, the launch of the new project has fallen by 45%. Earlier this month, Enarock and JLL India’s report also revealed a decline of 18 per cent and one per cent in house sales in seven major cities of the country respectively in the July-September period.
The survey done on these cities
is the nine cities studied by Prop Tiger in its report – Mumbai Metropolitan Region, Pune, Noida, Gurugram, Bengaluru, Chennai, Hyderabad, Kolkata and Ahmedabad. The report said that in 2019, only 65,799 homes were sold in the July-September quarter, compared to 88,087 homes in the same period last year. Last year 61,679 new units were launched in this period, while this year 33,883 units were launched.
7.78 lakh units lying ready for sale In
September, the builders of nine big markets of the country had stock of 7,78,627 units for sale. Out of this, about half of the houses are within the purchasing power of the people. Launching of new projects has continued to fall even as the government attempts to resolve the NBFC crisis, as the crisis has ended the major source of finance for real estate developers. People postponed the purchase of the house till the festive season, due to which there was a decrease in the sale of houses in September ATS Kabana High.
before this if we talk about last year in the festive season buyers were eager to buy residential property or even commercial shops and office space but now scenario is totally changed if real estate survey like this will continue to then can be loss full to real estate industry as well as people who are working in realty sector government need to improve this by giving some property discount or great offers for new property buyers of India.
