Housing Sales Show Mixed Trends Across Major Indian Cities

Housing sales in nine major Indian cities are expected to decline by 18% during the July-September quarter, as per PropEquity data. While sales are projected to rise in Delhi NCR and Navi Mumbai, other cities like Hyderabad, Bengaluru, and Kolkata could see significant drops.

Housing sales are projected to decline by 18% across nine major Indian cities in the July-September quarter, according to data released by real estate analytics firm PropEquity on Friday. The firm reported that sales during this period are estimated at 1,04,393 units, down from 1,26,848 units in the same period last year, attributed to a high base effect.

According to the data, housing sales are anticipated to increase in Delhi NCR by 22% and Navi Mumbai by 4% during the quarter. However, other cities are expected to experience declines, with Hyderabad seeing the highest drop at 42%, followed by Bengaluru at 26% and Kolkata at 23%.

PropEquity CEO and Founder Samir Jasuja stated, "The demand for real estate continues to be robust as even in this quarter the sales are higher than the new launches, and such marginal drops are a historic trend, not indicative of an adverse situation."

(With inputs from agencies.)