NEW DELHI: At a time when housing sales dropped 18% 12 months on 12 months to 44,755 units in nine primary cities during the September quarter on endured slowdown within the property market, sales in Gurgaon rose by means of 60% to three,342 units, in keeping with a file by means of realty portal Prop Tiger.com. The file said Mumbai additionally saw a 6% rise in sales to 12,101 units during the second quarter of this fiscal.
In other cities, new launches of homes fell by means of 53% to 22,115 units in the second quarter of the present fiscal owing to the implementation of new real property law Rera, said the file.
It additionally said seven cities — Pune, Noida, Bengaluru, Chennai, Hyderabad, Kolkata and Ahmedabad — witnessed decline in sales in addition to launches, while only two cities Mumbai and Gurgaon saw rise in call for and provide.
News Corp-backed PropTiger.com is a part of Elara Technologies, which additionally owns Housing.com and Makaan.com.
"The new Rera and GST regime impacted launches as well as sales in the second quarter of FY '18. However, sales showed a marked improvement in September over July and August, driven by festival offers launched by most developers," said Ankur Dhawan, leader funding officer, PropTiger.com.
Ahmedabad saw the maximum fall in sales of 46% to two,222 units within the July-September quarter of 2017-18, over the year-ago duration.
The decline in sales in Pune was once 32% to 7,214 units, adopted by means of Noida 29% to three,606 units, Bengaluru 27%
to six,976 units, Chennai 23% to two,945 units, Kolkata 21% to two,993 units and Hyderabad 18% to three,356 units.
"Due to improved buyer confidence, Mumbai and Gurgaon recorded an increase in sales by 6% and 60% respectively over Q2 FY'17," PropTiger said.
Mumbai and Gurugram additionally saw increase in launches by means of 19% and 85% respectively during the quarter beneath evaluate. Home launches in Mumbai stood at nine,584 units and Gurgaon 2,460 units. The other seven cities saw fall in new home launches in a spread of 37-92%.
"The key driver for increased new launches in Gurgaon and Mumbai is the affordable housing launches under Haryana Affordable Housing Policy 2013 and timely implementation of Rera in Maharashtra," the brokerage company said.
According to the file, Rera, regardless that appropriate since May 2017, was once now not implemented in lots of key states reminiscent of Karnataka, Haryana, Telangana, Uttar Pradesh till the middle of July 2017, which had a major affect on new launches.
"Though the last quarter looks sluggish, the long-term story for residential market remains strong. With effective implementation of Rera, we expect growth of 30-40% on year-on-year basis in sales and new launches in the next quarter," Dhawan said. PTI
In other cities, new launches of homes fell by means of 53% to 22,115 units in the second quarter of the present fiscal owing to the implementation of new real property law Rera, said the file.
It additionally said seven cities — Pune, Noida, Bengaluru, Chennai, Hyderabad, Kolkata and Ahmedabad — witnessed decline in sales in addition to launches, while only two cities Mumbai and Gurgaon saw rise in call for and provide.
News Corp-backed PropTiger.com is a part of Elara Technologies, which additionally owns Housing.com and Makaan.com.
"The new Rera and GST regime impacted launches as well as sales in the second quarter of FY '18. However, sales showed a marked improvement in September over July and August, driven by festival offers launched by most developers," said Ankur Dhawan, leader funding officer, PropTiger.com.
Ahmedabad saw the maximum fall in sales of 46% to two,222 units within the July-September quarter of 2017-18, over the year-ago duration.
The decline in sales in Pune was once 32% to 7,214 units, adopted by means of Noida 29% to three,606 units, Bengaluru 27%
to six,976 units, Chennai 23% to two,945 units, Kolkata 21% to two,993 units and Hyderabad 18% to three,356 units.
"Due to improved buyer confidence, Mumbai and Gurgaon recorded an increase in sales by 6% and 60% respectively over Q2 FY'17," PropTiger said.
Mumbai and Gurugram additionally saw increase in launches by means of 19% and 85% respectively during the quarter beneath evaluate. Home launches in Mumbai stood at nine,584 units and Gurgaon 2,460 units. The other seven cities saw fall in new home launches in a spread of 37-92%.
"The key driver for increased new launches in Gurgaon and Mumbai is the affordable housing launches under Haryana Affordable Housing Policy 2013 and timely implementation of Rera in Maharashtra," the brokerage company said.
According to the file, Rera, regardless that appropriate since May 2017, was once now not implemented in lots of key states reminiscent of Karnataka, Haryana, Telangana, Uttar Pradesh till the middle of July 2017, which had a major affect on new launches.
"Though the last quarter looks sluggish, the long-term story for residential market remains strong. With effective implementation of Rera, we expect growth of 30-40% on year-on-year basis in sales and new launches in the next quarter," Dhawan said. PTI
Only Gurgaon, Mumbai buck dip in housing sales pan-India
![Only Gurgaon, Mumbai buck dip in housing sales pan-India]()
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October 27, 2017
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