Housing Sales Decline 18% in Jul-Sep: PropEquity

New Delhi, Sep 20 (PTI) Housing sales are estimated to decline 18 per cent during July-September quarter across nine major cities to 1,04,393 units on high base, according to PropEquity data.

Real estate data analytic firm PropEquity on Friday released the data for housing sales across nine major cities.

Sales stood at 1,26,848 units in the same period last year.

As per the data, the housing sales are estimated to rise only in Delhi NCR (22 per cent) and Navi Mumbai (4 per cent) during July-September period of this year.

Sales are likely to decline in other seven cities with Hyderabad recording the highest fall at 42 per cent, followed by Bengaluru (26 per cent), Kolkata (23 per cent), Pune (19 per cent), Chennai (18 per cent), Mumbai (17 per cent) and Thane (10 per cent).

"The demand for real estate continues to be robust as even in this quarter the sales are higher than the new launches and such marginal drops in this quarter is a historic trend and not symptomatic of any adverse situation," Samir Jasuja, CEO & Founder, PropEquity said.

In Bengaluru, housing sales could fall 26 per cent to 13,355 units during July-September, from 17,978 units in the year-ago period.

Housing sales in Chennai might fall 18 per cent to 4,634 units from 5,628 units.

In Hyderabad, the sales of residential properties are estimated to decline 42 per cent to 12,082 units from 20,658 units. Kolkata could see a 23 per cent fall in sales to 3,590 units from 4,634 units.

Housing sales in Mumbai are estimated to fall 17 per cent to 10,966 units from 13,167 units. Navi Mumbai is likely to witness a 4 per cent increase in sales to 7,737 units from 7,416 units.

Housing sales in Delhi-NCR are estimated to rise 22 per cent to 10,263 units from 8,411 units. In Pune, the sales are likely to dip 19 per cent to 21,306 units from 26,154 units.

Thane in Mumbai Metropolitan Region (MMR) could see a fall of 10 per cent in housing demand to 20,460 units during July-September period this year, from 22,802 units in the corresponding period of the previous year.