Residential Apartment Sales Declined in Major Cities During July-September Quarter: Anarock

New Delhi, October 2: Sale of residential apartments declined across major cities of the country during the July-September quarter, according to an Anarock report . On a year-on-year basis, sales in the National Capital Region (NCR) declined 13 per cent during the period under review to 9,830 units, while compared to the previous quarter, sales slumped 22 per cent, the report showed.

In the Mumbai Metropolitan Region (MMR), 17,180 units were sold during the July-September quarter, 6 per cent lower over previous year and 20 per cent lower compared to the previous quarter. "All cities witnessed a significant decline in sales with the highest in Hyderabad, over the previous quarter," the report said. In the other cities of Bengaluru, Kolkata, Hyderbad, Chennai and Pune, sales during the period fell by 35 per cent, 27 per cent, 32 per cent, 11 per cent and 8 per cent, respectively, compared to the April-June quarter, it showed. Nirmala Sitharaman's Remedy For Ailing Auto Sector & Real Estate: Cheaper Loans, Easy EMIs.

The report also said that the third quarter recorded a significant reduction in supply over the previous quarter owing to the ongoing liquidity crisis and slowdown in the economy. In NCR, launch of apartments fell by 57 per cent compared to the previous year to 5,790 units during the period under review. However, on a year on year basis, the number of launches in NCR were up 38 per cent.

"MMR continued to top the list and accounted for 31 per cent of total supply in Q3 2019, followed by Bengaluru, Pune and NCR," the report said. A total of 14,040 units were launched in MMR during the period, with a decline of 29 per cent on a year on year basis, 39 per cent on a quarter.

(The above story first appeared on LatestLY on Oct 02, 2019 09:42 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).