Housing sales drops in July-September quarter
Housing sales fell 22 per cent in eight major cities to 33,304 units during the September quarter, according to a report by PropEquity Research. As many as 42,461 units were sold in the second quarter this year in Gurgaon, Noida, Mumbai, Kolkata, Hyderabad, Bengaluru, Pune, Chennai. "During Q3, 2016, Key residential markets across India remains in a state of inertia with all indicators showing signs of correction," PropEquity, a real estate data, research and analytics firm, said in the report. "Housing demand across key cities declined by 22 per cent largely on account of muted end-users demand even when developers continue to offer heavy discounts and benefits," it added.
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