New Delhi: Housing sales declined 18% to 55,080 units during the July-September period across seven major cities as buyers were cautious in making property investments, according to real estate services firm Anarock.
Housing sales stood at 67,140 units in the year-ago period across seven cities --- Delhi-NCR, Mumbai metropolitan region, Kolkata, Chennai, Bengaluru, Pune and Hyderabad.
"Around 55,080 units were sold in Q3 2019 – a decline of 20% over Q2 2019, and a 18% year-on-year decline," property consultant Anarock said in a report.
Apart from low sentiments, Anarock attributed the fall in housing sales to ban on subvention scheme and inauspicious 'shraadh' period.
"The decline in new supply and housing sales in this quarter was expected as both homebuyers and developers remained cautious and risk-averse," said Anuj Puri, Chairman – Anarock.
