Advertisement
When should a housing society in Mumbai start considering re...
From GST on JDAs to SEBI’s REIT reclassification and the S...
Stay ahead in the world of real estate with our daily podcas...
Stay ahead in the world of real estate with our daily podcas...
PropEquity data reveals a 2% decline in the Indian housing market for Q2, with sales totaling 119,901 units across nine major cities, down from 121,856 units last year. Delhi NCR and Navi Mumbai show growth, with sales rising to 10,198 units and 9,035 units respectively. Bengaluru and Kolkata see marginal increases, while Pune and Hyderabad face declines of 15% and 20%. Mumbai and Chennai experience slight drops, while Thane sees a 9% rise. The overall slowdown is attributed to seasonal patterns and follows a record-breaking Q1. Interest rate hikes and monsoon season may further impact the market.
The Indian housing market is presenting a mixed picture for the April-June quarter, with PropEquity data revealing a slight decline of 2% compared to the same period last year. This translates to an estimated total of 119,901 units sold across nine major cities, down from 121,856 units in the previous year. Advertisement
Delhi NCR is a bright spot, projecting a rise in sales to 10,198 units from 9,635 units last year. Bengaluru and Kolkata are also expected to see marginal increases, with Bengaluru reaching an estimated 15,127 units (up from 15,088) and Kolkata reaching 5,130 units (up from 4,025). Navi Mumbai stands out with a significant projected growth of 36%, reaching an estimated 9,035 units compared to 6,640 units the prior year.
However, Pune and Hyderabad are witnessing a different story. Pune is estimated to see a 15% decline in sales, reaching 22,482 units from 26,586 units. Hyderabad could face a steeper 20% drop, with sales falling to an estimated 15,016 units from 18,757 units. Chennai is also expected to experience a slight decline, with sales dipping to 4,841 units from 4,950 units. Mumbai is predicted to see a marginal decrease, reaching 13,032 units compared to 13,219 units the previous year. Thane, on the other hand, might see a moderate rise of 9%, reaching an estimated 25,041 units from 22,956 units.
PropEquity attributes the overall slowdown to typical seasonal patterns. The April-June quarter usually sees lower activity compared to the rest of the year. Additionally, the record-breaking sales witnessed in the January-March quarter (146,194 units) might be followed by a period of correction.
The Indian housing market remains dynamic. While some cities might experience temporary slowdowns, the long-term outlook is generally positive. Factors like increasing urbanization and a growing middle class are expected to continue driving demand for housing in the years to come.
The recent increase in interest rates by the Reserve Bank of India could potentially impact buyer affordability and dampen demand in the coming quarters. Additionally, the arrival of the monsoon season in India can sometimes lead to a slowdown in construction activity, which might indirectly affect sales. This mixed performance across different cities highlights the importance of considering local market dynamics when making real estate decisions.
5th Jun, 2025
25th May, 2023
11th May, 2023
27th Apr, 2023
Advertisement
Facebook
Whatsapp
