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

 BENGALURU, Oct 23:Despite depressed consumptionsentiment, the top seven cities saw homes worth approximatelyRs 1.54 lakh crore sold in the first three quarters of 2019,rising yearly by 16 per cent, according to ANAROCK PropertyConsultants.The overall value of units sold in the correspondingperiod of 2018 was approximately Rs 1.33 lakh crore, itsChairman Anuj Puri said.Between January to September of 2019, nearly 2.02 lakhunits 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) toppedthe 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 overallhousing sales value over Rs 47,240 crore in 2018, Bengalurusaw a dip of seven per cent.Last year, the IT capital saw total housing sales worthRs 30,310 crore during the same period.Interestingly, Pune saw a 32 per cent jump in the overallhousing sales values during the year from Rs 13,275 croreduring 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 valuedat Rs 24,860 crore in 2019 against Rs 21,600 crore in thethree quarters of 2018 - an annual increase of 15 per cent.This is significant considering NCR has been one of theworst hit residential markets in recent times, the propertyconsultants said.Hyderabad and Chennai saw homes worth Rs 9,400 crore andRs 5,580 crore respectively in 2019.Hyderabad housing sales declined by two per cent while inChennai it rose by 13 per cent.Among the top seven cities, Chennai saw the least overallsales value in 2019 - marginally below Kolkata, where homesworth Rs 5,850 crore were sold.Of the three quarters of 2019, Q3 saw the worst overallsales performance.A combination of factors such as the �shraadh� period(considered inauspicious), the ban on subvention schemes and aprolonged monsoon resulted in below par sales.As a result, there was a 17 per cent yearly drop in thevalue of sold homes across the top seven cities from Rs50,535 crore in Q3 2018 to Rs 42,040 crore in Q3 2019.At 35 per cent, Bengaluru saw the largest drop in overallsales values in Q3 2019 against Q3 2018.The overall value of homes sold in the city wasapproximately Rs 7,540 crore in Q3 2019.MMR saw homes worth Rs 17,300 crore sold in Q3 2019against Rs 18,585 crore a year ago - an annual decline ofseven per cent.Pune saw the least decline in housing sales value in Q32019 homes worth Rs 4,775 crore were sold in Q3 2019 againstRs 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 overallhousing sales value from Rs 7,775 crore in Q3 2018 to Rs6,745 crore in Q3 2019.Chennai and Kolkata saw housing sales values fall by 10per cent and 29 per cent, respectively.As on Q3 2019, the overall sales value of homes sold wasRs 1,620 crore in Chennai and approximately Rs 1,710 crore inKolkata. (PTI)