Property launches and sale fell YoY during July-September
real estate data analytics firm PropEquity.
The NSE-listed firm said that new launches in the quarter fell to 93,693 units from 1,05,655 units in the same period last year while sales fell to 1,04,393 units from 1,26,848 units in the same period last year.
PropEquity tracks housing supply and absorption data in NCR, Mumbai, Navi Mumbai, Thane, Pune, Bengaluru, Hyderabad, Chennai and Kolkata.
“The demand for real estate continues to be robust as even in this quarter the absorption/sales is higher than the new launches and such marginal drops in this quarter is a historic trend and not symptomatic of any adverse situation,” said Samir Jasuja, CEO & Founder, PropEquity.
In Hyderabad and NaviMumbai, the majority of new real estate launches are in plots rather than apartments, indicating a decline in supply and absorption of apartments in these cities.
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