Real estate sales increase by 19 per cent
Mumbai Metropolitan Region emerged as the leader with 19% increase in sales during the quarter, showed data from Liases Foras Real Estate Rating & Research.
Total sales in key markets including Mumbai, National Capital Region (NCR), Bangalore, Pune, Chennai and Hyderabad was 64,781 units during the quarter of July to September, marginally down from 64,881 in the previous quarter.
On a QoQ basis, maximum sales growth of 11% took place in the affordable housing segment (properties priced below Rs 25 Lakh). MMR contributed highest sales 28%, in the affordable housing segment with 3,388 units, followed by Ahmedabad at 24% with 2,903 units. The affordable segment contributed to 19% of the overall sales as compared to 17% in the previous quarter.
Sales in the cost bracket of 1 crore- 2 crore and Rs. 25 – 50 Lacs decreased by (-8%) and (-5%) respectively. The cost bracket of Rs.25 – 50 Lacs contributed to 36% of total sales.
Unsold stock in Tier I cities marginally declined by (-1 %) QoQ. Hyderabad and NCR witnessed a (-5%) decline followed by Ahmedabad & Bangalore at (-3%). Kolkata and Chennai recorded an increase in unsold stock by 7% and 6% respectively.