Housing Sales Dip 30% in MMR, Pune

New Delhi, Jul 14 (PTI) Housing sales in Mumbai Metropolitan Region (MMR) and Pune together fell 30 per cent to 41,901 units during April-June period of this year as surge in prices dampened consumer demand, according to PropTiger.

The combined housing sales in MMR and Pune, the two important property markets in Maharashtra, stood at 60,191 units in the year-ago period.

On Monday, housing brokerage firm PropTiger released the data, which showed that sales in India's eight primary residential markets fell 14 per cent to 97,674 units during April-June this year, from 1,13,768 units in the corresponding period of the preceding year.

"The short-term dip in home sales and new launches is more of a recalibration than a sign of waning demand. Affordability pressures, particularly in the budget and mid-income segments, have led to some cautious buyer sentiment," Sridhar Srinivasan, Head of Sales, PropTiger.com said.

However, Srinivasan noted that the underlying demand remains intact.

As per the data, the housing sales in MMR declined 32 per cent to 25,939 units, from 38,266 units.

Pune saw a 27 per cent fall in sales to 15,962 units, from 21,925 units.

In Ahmedabad, housing sales fell 1 per cent to 9,451 units, from 9,500 units.


Delhi-NCR saw a 9 per cent fall in sales to 10,051 units, from 11,065 units, while Hyderabad witnessed a 6 per cent drop to 11,513 units from 12,296 units.

However, sales in Bengaluru, increased 16 per cent to 15,628 units, from 13,495 units.

Housing sales in Chennai too rose 33 per cent to 5,283 units, from 3,984 units.

Sales of residential properties in Kolkata increased 19 per cent to 3,847 units in April-June this year, from 3,237 units in the year-ago period.

The data pertains to primary housing markets of these eight cities.

Delhi-NCR includes Gurugram, Noida, Greater Noida, Ghaziabad and Faridabad.

The MMR market includes Mumbai, Navi Mumbai and Thane.

PropTiger is part of REA India, which owns Housing.com -- a real estate classifieds platform.