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Record drop in home sales, revealed in this report

Sagar Patel

By Sagar Patel

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Due to low demand in Hyderabad and Pune, housing sales in nine major cities of the country are expected to decline by two per cent to around 1.20 lakh units during the current quarter. PropEquity, a firm that analyzes data related to the real estate sector, published the probable data on home sales 10 days before the end of the April-June quarter. According to the data, housing sales in the April-June quarter are expected to decline slightly to 1,19,901 units. In the same period last year, 1,21,856 homes were sold.

This is the situation in Delhi-NCR

However, residential property sales in the Delhi-NCR market are expected to rise to 10,198 units during April-June this year. In the same period last year, this figure was 9,635 units. In Bengaluru too, housing sales are expected to rise to 15,127 units from 15,088 units a year ago, but in Chennai, sales are expected to decline to 4,841 units from 4,950 units. Sales in Hyderabad are also estimated to decline by 20 per cent to 15,016 units as against 18,757 units in the same period last year.

What do the rest of the city’s statistics say?

Sales in Kolkata are likely to increase from 4,025 units to 5,130 units. Housing sales in Mumbai are expected to decline marginally to 13,032 units as compared to 13,219 units. However, in its suburban Navi Mumbai area, housing sales are likely to rise 36 per cent to 9,035 units. Housing sales in Pune are likely to decline by 15 per cent to 22,482 units from 26,586 units.

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Housing sales in Thane may rise by nine per cent to 25,041 units, up from 22,956 units in the year-ago period. Home sales in the April-June quarter are expected to decline 18 percent compared to the January-March quarter. In the last quarter, 1,46,1947 homes were sold.

Sagar Patel

Sagar Patel

I am Sagar Patel, specializing in business news reporting. With a keen focus on economic trends, market analysis, and corporate developments,

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