New Delhi: Housing sales in the Mumbai Metropolitan Region (MMR) and Pune overall declined 30 percent to 41,901 units in the April-June period this year, as consumer demand waned due to a surge in prices, according to PropTiger.
Combined housing sales in MMR and Pune, two key property markets in Maharashtra, stood at 60,191 units in the same period a year ago.
On Monday, housing brokerage firm PropTiger released data which showed that sales in India’s eight major residential markets declined 14 percent to 97,674 units during April-June this year, as against 1,13,768 units in the same period last year.
Sridhar Srinivasan, Head of Sales, PropTiger.com, said, “The short-term decline in home sales and new launches is a sign of a rebalancing rather than declining demand. The pressure for affordability, especially in the budget and middle-income segments, has led to some cautious sentiment from buyers.”
However, Srinivasan said the underlying demand remains intact.
According to the data, home sales in MMR fell 32 percent to 25,939 units from 38,266 units.
Sales in Pune fell 27 percent to 15,962 units from 21,925 units.
Home sales in Ahmedabad fell 1 percent to 9,451 units from 9,500 units.
Sales in Delhi-NCR declined 9 per cent to 10,051 units from 11,065 units, while Hyderabad fell 6 per cent to 11,513 units from 12,296 units.
However, sales in Bengaluru rose 16 percent to 15,628 units from 13,495 units.
Housing sales in Chennai also grew 33 percent to 5,283 units from 3,984 units.
Residential property sales in Kolkata rose 19 percent to 3,847 units in April-June this year from 3,237 units in the same period a year ago.
This data pertains to the primary housing markets of these eight cities.
Delhi-NCR comprises Gurugram, Noida, Greater Noida, Ghaziabad and Faridabad.
The MMR market comprises Mumbai, Navi Mumbai and Thane.
PropTiger is part of RERA India, which also owns Housing.com – a real estate classifieds platform.
