Large drop in sales of homes
The trend of living in multi -storey buildings in the big metros of the country is also being recorded at the same rapid decline. There has been a major decline in the sale of houses in the Mumbai metropolitan region (MMR) and the July-September quarter in Pune. According to a report by Propket, the sales of houses in these two cities declined by 17 percent to 49,542 units.
According to the real estate data analytics company, the decline in sales of homes has come due to a rapid rise in prices of houses and decrease in demand. A total of 59,816 houses were sold in MMR and Pune in the same period last year. According to the report, the sales of houses in MMR’s Thane declined by 28 percent and sales decreased to 14,877 units. A year ago, 20,620 units were sold here.
Possibility of increasing demand in festivals
In the city of Mumbai, sales in the city of Mumbai declined by 8 percent to 9,691 units while sales in Navi Mumbai declined by six percent to 7,212 units. Housing sales in Pune also declined 16 percent to 17,762 units, which was 21,066 units in the same quarter last year. Real Estate Organization CREDAI-MCHI said that the decline in the September quarter is not a matter of concern and there is a possibility of increasing demand in festivals.
These projects will be supported
CREDAI-MCHI President Sukhraj Nahar said that the period of the market was seen in the September quarter. The demand for housing in MMR and Pune is very strong. Infrastructure projects like Metro Corridor, Costal Road and Navi Mumbai International Airport will support the market for a long time.
Continuous decreasing demand
He said that sales in many sub-markets are still more than new projects, which reflect healthy adjustments. According to the propITT, residential sales in the top 9 cities of the country were 4 percent on an annual basis in the July-September quarter and one percent on a quarterly basis to 1,00,370 units.