Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
CO-PRESENTED BY
LIVE TV DownloadNews18 App
News18 English
272
nda:
Needmore seats to Win
Needmore seats to Win
upa:
»
1-min read

Housing Sales Fall 31%; Launches Dip 40% in December Quarter: Report

Housing sales fell by 31 percent while launches dipped 40 percent in eight major cities during the December quarter, over previous three months, due to market uncertainty post-demonetisation, says a report.

Press Trust Of India

Updated:February 20, 2017, 8:10 PM IST
facebookTwittergoogleskypewhatsapp
Housing Sales Fall 31%; Launches Dip 40% in December Quarter: Report
Representative image
Loading...
New Delhi: Housing sales fell by 31 percent while launches dipped 40 percent in eight major cities during the December quarter, over previous three months, due to market uncertainty post-demonetisation, says a report.

The stock of unsold houses however fell marginally by 1 percent to 4,53,592 units in Gurgaon, Noida, Mumbai, Kolkata, Pune, Hyderabad, Bengaluru and Chennai from 4,59,067 units in the previous quarter, said PropEquity, a real estate data, research and analytics firm.

"Housing demand crashed across top eight cities in the fourth quarter of 2016 post demonetisation of Rs 500 and Rs 1000 currency notes," it said in a release.

Sales stood at 26,718 units during October-December, down 31 percent from 38,450 units in the previous quarter. Similarly, the launches of new homes dropped to 16,636 units from 27,696 units.

"Housing demand (absorption) across key cities declined by 31 per cent largely on uncertainty post demonetisation which led to very few transactions materialising in both primary and secondary market," the company said.

The launches of homes fell as developers were waiting to gauge the true extent of demonetisation impact on real estate before launching any new projects, it added.

"Real estate sector in India, especially housing is going through a critical transition phase post demonetisation as transaction activity has slowed down considerably," said Samir Jasuja, founder and CEO at PropEquity.

The average prices of unsold units almost remain stagnant at Rs 6,683 per square feet as buyers and sellers delayed their decisions.

"Going ahead, the recent budgetary announcement to grant industry status to affordable housing will surely provide ample push for this segment in India, a key initiative under Housing for All. Developers having projects in the affordable segment will benefit greatly with this announcement," the report said.
(Get detailed and live results of each and every seat in the Lok Sabha elections and state Assembly elections in Andhra Pradesh, Odisha, Arunachal Pradesh and Sikkim to know which candidate/party is leading or trailing and to know who has won and who has lost and by what margin. Our one-of-its-kind Election Analytics Centre lets you don a psephologist’s hat and turn into an election expert. Know interesting facts and trivia about the elections and see our informative graphics. Elections = News18)
| Edited by: Bijaya Das
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwittergoogleskypewhatsapp
 
 
Most Active
Company Price Change %Gain
ICICI Bank 431.75 5.09
Reliance 1,336.85 0.22
SBI 355.35 3.84
IndusInd Bank 1,648.90 3.14
Larsen 1,544.15 4.61
Company Price Change %Gain
GRUH Finance 313.30 -4.42
Reliance 1,336.80 0.07
Larsen 1,543.65 4.60
SpiceJet 141.55 9.64
SBI 354.60 3.59
Top Gainers
Company Price Change %Gain
ICICI Bank 431.75 5.09
Larsen 1,544.15 4.61
Zee Entertain 376.85 4.55
JSW Steel 288.00 4.37
Bharti Airtel 353.20 4.25
Company Price Change %Gain
ICICI Bank 431.50 5.09
Larsen 1,543.65 4.60
Bharti Airtel 353.30 4.40
Vedanta 163.85 4.20
Tata Motors 182.15 4.09
Top Losers
Company Price Change %Gain
Tech Mahindra 735.85 -1.00
NTPC 129.15 -0.54
TCS 2,048.00 -0.29
HUL 1,749.60 -0.24
HCL Tech 1,065.95 -0.04
Company Price Change %Gain
NTPC 129.20 -0.54
HCL Tech 1,061.65 -0.46
TCS 2,049.65 -0.20
HUL 1,749.20 -0.10

Live TV

Loading...
Countdown To Elections Results
  • 01 d
  • 12 h
  • 38 m
  • 09 s
To Assembly Elections 2018 Results