Real estate sector
Has the real estate sector end up? Has the real estate sector again hit the recession? This is because the sales of homes are continuously falling quarterly quarter. Let us tell you that due to concern over the touching price and economic growth of houses, the sale of houses in nine major cities of the country is estimated to be 23 percent to 1.06 lakh units in the nine major cities of the country in the first (January-March) quarter. This information has been received from the data released on Sunday by the real estate data analysis company Propket. According to the data, the sales of houses in the first quarter of the current calendar year are estimated to be reduced from 1,36,702 units to 1,05,791 units in the same period last year.
Why do people not buy homes?
Propket founder and CEO Sameer Jasuja said that investors are cautious due to increase in prices of homes and geopolitical developments and some weakness in the Indian economy, which has led to a decline in sales. However, the sales of residential properties in Chennai are estimated to be reduced by two percent to 4,858 units from 4,962 units. Sales in Hyderabad may fall by 47 percent. Sales in Hyderabad are estimated to be reduced from 20,835 units to 11,114 units. Similarly, the sales of homes in Kolkata are estimated to be reduced by 28 percent to 4,219 units as compared to 5,882 units. The sales of homes in Mumbai are estimated to come down by 36 percent to 10,432 units from 16,204 units. In Navi Mumbai, it is expected to decrease by seven percent to 8,551 units from 9,218 units. Home sales in Pune are estimated to be reduced by 33 percent to 17,634 units from 26,364 units. The sales of homes in Thane are estimated to fall by 27 percent. It is estimated to remain 19,254 units. Last year, the figure was 26,234 units.
Expect a boom in these two cities
There may be an increase in sales in nine major cities only in Delhi-NCR and Bengaluru this quarter. According to the data, the sales of houses in Bengaluru in January-March, 2025 are expected to increase by 10 percent to 18,508 units, which was 16,768 units in the same quarter a year ago. Delhi NCR is also expected to have a 10 percent increase in sales to 11,221 units from 10,235 units. According to the propITT, after a 3 -year record demand, some ‘correction’ is now being seen, due to which there is a decline in sales. The new supply of residential properties in the current quarter is estimated to be reduced by 34 percent to 80,774 units, which was 1,22,365 units in the same quarter a year ago.
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