Categories: Business

Homes in the top eight cities fell by 79 percent in April-June, the biggest decline in Hyderabad

Photo: DECCANCHRONICLE

Housing sales shrink 79pc in top 8 cities, record 86pc drop in Hyderabad

new Delhi. The sale of houses in eight major cities of the country has had a major impact on the lockdown in April-June to control the Kovid-19 epidemic. Housing sales fell 79 percent to only 19,038. This was revealed in the report 'Real Insight: Q2 2020' released by real estate broking company PropTiger.

According to the report released on Tuesday through video conferencing, house sales in these eight cities fell by 52 percent to 88,593 units in the first half of the year 2020 (January-June). PropTiger analyzes the property markets of Ahmedabad, Bengaluru, Chennai, Hyderabad, Kolkata, Delhi-NCR (Noida, Greater Noida, Gurugram, Ghaziabad and Faridabad), Mumbai Metropolitan Region (Mumbai, Navi Mumbai, Thane) and Pune for this report. Does.

According to the data, the maximum decline of 86 percent was recorded in Hyderabad and only 1,099 houses were sold in April-June. This was followed by the sale of 4,559 houses with a decline of 85 percent in Mumbai, 1,181 houses with a decline of 83 percent in Ahmedabad and 1,886 houses in Delhi-NCR by 81 percent.

Kolkata, Pune, Bangalore and Chennai also saw a decline of more than 70 percent in house sales during this period. Mani Rangarajan, group chief operating officer of PropTiger, Housing.com, Makan.com, said the current epidemic crisis is one that cannot be anticipated. Due to this, the world economy including India is expected to shrink. This has affected demand very badly. Unemployment is also increasing. Although they expected demand to improve in the second half of 2020, it indicated it would be less than any forecast.

This post was published on July 29, 2020 11:40 am

Content Team

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