Even as housing sales rose in the second quarter of this calendar year, the growth slowed down in seven major cities, a report said.
Even as housing sales rose in the second quarter of this calendar year, the growth slowed down in seven major cities, a report said. The wait-and-watch approach adopted by the buyers in the general elections led to fall in growth, even as sales surged by 12 per cent, according to property consultant Anarock. NCR’s real estate sector saw rise in launches by 69 per cent in Q2 2019 as against the previous one. NCR saw the least fall in absorption numbers at nearly 8 per cent. Housing sales in all cities within NCR collectively stood at 12,640 units in Q2 2019 against 13,740 units Q1 2019.
While Gurgaon saw the highest launches of nearly 7,000 units, Greater Noida saw new launch of nearly 2,270 units. Noida saw new launches of nearly 1,580 units and Delhi saw new supply of nearly 1,100 units. Ghaziabad and Faridabad saw new supply of nearly 690 and 880 units respectively.
From 61,522 units in the same period of last year, the housing sales grew to 68,600 units during April-June 2019 from 61,522 units in the corresponding period of last year. Of the seven major cities, the sales rose in four cities and fell in the remaining, the survey showed. Maximum sales were seen in the Mumbai Metropolitan Region (MMR), with sales surging by 36 per cent at 21,360 units as aaginst 15,739 units in the first quarter of 2018.
While NCR region posted 13 per cent rise at 12,640 units, Pune saw housing sales up by 25 per cent at 10,490 units, the report showed. Chennai recorded 10 per cent rise at 2,990 units in the period under review. The cities that saw drop in sales include Kolkata, 12 per cent decline to 2,540 units in April to June as against 4,030 units in the corresponding period last year. The housing sales fell in Bengaluru by 11 per cent at 13,150 units. Hyderabad saw a fall of 7 per cent to 4,430 units.
“As expected, the Indian realty market in Q2 2019 was somewhat eclipsed by the general elections during the period”, Anarock Chairman Anuj Puri said.