Top eight Indian cities record 9% on-year rise in Jan-Mar housing sales – ET RealEstate

Top 8 tier I Indian cities have recorded 9% on-year rise in residential sales at 69,697 apartments in the first quarter ended March led by activity in Mumbai region and Pune, showed data from Liases Foras Real Estate Rating & Research.

In terms of growth, sales in Chennai witnessed maximum on-year growth of 31%, followed by Pune at 24%, Bangalore 19%, Hyderabad 18%, and Mumbai Metropolitan Region (MMR) 7%. The National Capital Region (NCR) witnessed the maximum decline of 8%.

Prices remained stable in tier I cities on both sequential and on-year basis.

During the quarter, unsold housing stock in tier I cities decreased by 7% on-year. Ahmedabad witnessed the maximum decline in unsold stock at 16%, followed by Kolkata 13%, Bangalore 11%, Pune 10%, NCR 8%, and MMR 4%, the data showed.



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