The volume has fallen by 43% during the above mentioned period, according to the global real estate consultant.
Collectively, the residential properties in Bangalore and Chennai have witnessed highest growth in market share from 16% in Q4FY12 to 33% in Q4FY14.
Though companies based out of north India continue to dominate the Indian realty market in the sales volume, their share continuously fell from 75% in Q4FY12 to 51% in the latest quarter.
Delay in approvals, high cost of funds and slow uptick in the sales volume dried up the liquidity for the cash-starved real estate companies which in turn log jammed the construction activity across India, says Knight Frank.
However, the residential property prices across major cities have witnessed a double digit growth rate during Q4FY12 to Q3FY14, it says.