Housing Sales Decline 2% in Major Indian Cities: PropEquity Report Highlights Market Trends

Housing sales are projected to decrease by 2% to around 1.20 lakh units this quarter in nine major cities, largely due to lower demand in Hyderabad and Pune. Delhi NCR, Bengaluru, and Kolkata are set to see a rise, while other cities face declines, according to PropEquity's recent data.

In a recent report, PropEquity has projected a 2% decline in housing sales, estimating nearly 1.20 lakh units will be sold this quarter across nine major cities. The fall is primarily attributed to decreased demand in Hyderabad and Pune.

The real estate data analytics firm released its housing sales data for April-June, just 10 days before the end of the quarter. The data reveals that housing sales are expected to drop to 1,19,901 units from 1,21,856 units during the same period last year.

Notably, sales in Delhi NCR are poised to rise to 10,198 units, up from 9,635 units last year. Bengaluru is also projected to see a slight increase, while Mumbai's sales are expected to decline marginally. Despite statewide trends, Navi Mumbai is likely to experience a significant 36% growth in housing sales.

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