HOUS­ING SALES UP 7% IN 2018 IN 9 MA­JOR CITIES, SAYS RE­PORT

Hindustan Times ST (Jaipur) - - World -

NEW DELHI: In­creased de­mand for flats that are ready to move in or near­ing com­ple­tion helped hous­ing sales to rise by 7% dur­ing 2018 to nearly 2.15 lakh units across nine ma­jor cities, ac­cord­ing to data an­a­lytic firm Propequity. New launches fell by 22% to 1.46 lakh units dur­ing 2018 against 1.87 lakh units in the pre­vi­ous year. Higher sales and fall in new sup­ply led to 10% de­cline in un­sold stock at around 6 lakh units as on De­cem­ber 31, 2018. The nine cities tracked by Propequity are Gu­ru­gram, Noida, Mum­bai, Kolkata, Pune, Hyderabad, Bengaluru, Thane and Chen­nai. “In 2018, we wit­nessed over 20% fall in new launches in top nine In­dian cities as de­vel­op­ers across cities fo­cussed on ex­e­cut­ing and ag­gres­sively sell­ing pre­vi­ously launched projects. This also led to un­sold in­ven­tory fall­ing by over 10%; and ef­fec­tively these top nine cities sold 7.2% more units in 2018 ver­sus 2017 even with fewer launched projects,” said Samir Ja­suja, founder and MD, Propequity.

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