Homes worth Rs 1.54 lakh crore sold in top 7 cities in 2019


BENGALURU, Oct 23:Despite depressed consumption
sentiment, the top seven cities saw homes worth approximately
Rs 1.54 lakh crore sold in the first three quarters of 2019,
rising yearly by 16 per cent, according to ANAROCK Property

The overall value of units sold in the corresponding
period of 2018 was approximately Rs 1.33 lakh crore, its
Chairman Anuj Puri said.

Between January to September of 2019, nearly 2.02 lakh
units have been sold across the top seven cities;
approximately 1.78 lakh units were sold a year ago.

In value terms, MMR (Mumbai Metropolitan Region) topped
the list with housing sales worth Rs 62,970 crore in 2019,
followed by Bengaluru with sales worth Rs 28,160 crore.

While MMR saw a yearly gain of 33 per cent in the overall
housing sales value over Rs 47,240 crore in 2018, Bengaluru
saw a dip of seven per cent.

Last year, the IT capital saw total housing sales worth
Rs 30,310 crore during the same period.

Interestingly, Pune saw a 32 per cent jump in the overall
housing sales values during the year from Rs 13,275 crore
during January-September in 2018 to Rs 17,530 crore in 2019,
according to Puri.

As many as 31,380 homes were sold in Pune in 2019.

Housing sales in NCR (National Capital Region) was valued

at Rs 24,860 crore in 2019 against Rs 21,600 crore in the
three quarters of 2018 – an annual increase of 15 per cent.

This is significant considering NCR has been one of the
worst hit residential markets in recent times, the property
consultants said.

Hyderabad and Chennai saw homes worth Rs 9,400 crore and
Rs 5,580 crore respectively in 2019.

Hyderabad housing sales declined by two per cent while in
Chennai it rose by 13 per cent.

Among the top seven cities, Chennai saw the least overall
sales value in 2019 – marginally below Kolkata, where homes
worth Rs 5,850 crore were sold.

Of the three quarters of 2019, Q3 saw the worst overall
sales performance.

A combination of factors such as the ‘shraadh’ period
(considered inauspicious), the ban on subvention schemes and a
prolonged monsoon resulted in below par sales.

As a result, there was a 17 per cent yearly drop in the
value of sold homes across the top seven cities from Rs
50,535 crore in Q3 2018 to Rs 42,040 crore in Q3 2019.

At 35 per cent, Bengaluru saw the largest drop in overall
sales values in Q3 2019 against Q3 2018.

The overall value of homes sold in the city was
approximately Rs 7,540 crore in Q3 2019.

MMR saw homes worth Rs 17,300 crore sold in Q3 2019
against Rs 18,585 crore a year ago – an annual decline of
seven per cent.

Pune saw the least decline in housing sales value in Q3
2019 homes worth Rs 4,775 crore were sold in Q3 2019 against
Rs 5,035 crore in Q3 2018.

Hyderabad saw a 31 per cent decline during the period,
and in Q3 2019 reported sales worth Rs 2,350 crore.

NCR saw a 13 per cent yearly decline in the overall
housing sales value from Rs 7,775 crore in Q3 2018 to Rs
6,745 crore in Q3 2019.

Chennai and Kolkata saw housing sales values fall by 10
per cent and 29 per cent, respectively.

As on Q3 2019, the overall sales value of homes sold was
Rs 1,620 crore in Chennai and approximately Rs 1,710 crore in
Kolkata. (PTI)