House sales down 1% in top 8 cities in July-Sept: Report
image for illustrative purpose
New Delhi: India stop eight housing markets saw a one per cent decline in sales during the July-September period to 95,547 units, mainly due to lower demand in Mumbai, Pune and Delhi-NCR, according to PropTiger.
Real estate consultant PropTiger, recently acquired by listed entity Aurum PropTech Ltd, released its data on Wednesday for India's eight primary housing markets for the July-September quarter.
According to the data, housing sales fell by 95,547 units during the third quarter of this calendar year, compared to 96,544 units in the corresponding period of the previous year.
Although sales volumes have stabilised, PropTiger noted that the total value of properties sold during the quarter surged 14 per cent annually to Rs 1.52 lakh crore.
Commenting on the data, Aurum PropTech Executive Director Onkar Shetye said, "The Indian residential market is clearly transitioning from a broad-based, volume-led recovery to a more mature and sustainable phase of value-driven growth."
The performance of the September quarter underscores the remarkable resilience of the premium segment, supported by stable macroeconomic fundamentals and strong buyer sentiment, he added.
Among the eight cities, housing sales in Mumbai Metropolitan Region (MMR) fell 22 per cent to 23,334 units during July-September from 30,010 units in the year-ago period.
