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Housing sales slump in Oct-Dec
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SME Times News Bureau | 14 Jan, 2020
Sales in the residential real estate segment declined 30 per cent during
the October-December quarter on a year-on-year basis across nine major
cities in the country, a PropTiger report said on Tuesday.
A total of 64,034 homes were sold across nine key markets during the third quarter of the financial year 2019-20.
"Housing
sales in India's nine key property markets fell 30 per cent annually
during the October-December quarter despite the government launching
several measures in the recent past to revive buyer sentiment. As
against 91,464 units sold during the quarter last year, only 64,034
homes were sold across the nine markets in Q3 this year," it said.
Mumbai contributed nearly 40 per cent to the overall sales numbers during the period under review, as per the report.
"What
points towards a nation-wide phenomenon, sales declined across all
these markets, with Bengaluru, popularly known as India's Silicon
Valley, registering a 50 per cent fall in sales numbers."
For the period, April-December 2019-20, sales at 2,28,220 units fell by 13 per cent, compared to 2,63,294 units last year.
New
project launches in India's nine key residential markets continued to
decline, falling 44 per cent year-on-year to 41,133 units during the
October-Decmber quarter, primarily on liquidity concerns, the report
said.
"Only 41,133 units were launched in Q3 FY20, as against
73,226 units in the corresponding period last fiscal, the report shows.
New launches fell across markets, with Kolkata and Gurugram seeing the
biggest fall, at 79 and 74 per cent, respectively," it said.
Nearly
40 per cent of new launches were concentrated in India's financial
capital Mumbai. Affordable housing continued to dominate launches, with
52 per cent units launched in this segment across the major cities.
Compared
to the first nine months (April-December) of the previous financial
year, launches declined by 32 per cent during the same period in the
current fiscal. While 2,15,596 units were launched between April and
December in the previous year, 1,45,852 units were launched during the
same period this year, it added.
The cities covered under the
survey were Ahmedabad, Bengaluru, Chennai, Gurugram, Hyderabad, Kolkata,
Mumbai (including Navi Mumbai and Thane), Pune and Noida, including
Greater Noida and the Yamuna Expressway.
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
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64.50 |
UK Pound
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87.50
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84.65 |
Euro
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78.25
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75.65 |
Japanese
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56.85 |
As on 13 Aug, 2022 |
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