Housing sales may decline 18% in September Quarter

Housing sales are projected to decline by 18% in the July-September quarter across nine major cities, reaching 1,04,393 units due to a high base effect. However, sales are expected to rise in Delhi NCR and Navi Mumbai. Hyderabad will see the highe...

By PTI | Updated: Sep 21, 2024, 12.05 AM IST

New Delhi: Housing sales are estimated to decline 18% 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%) and Navi Mumbai (4%) during July-September period of this year.

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

"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.

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