<p class="title">Housing sales declined 18 per cent to 55,080 units during the July-September period across seven major cities as buyers were cautious in making property investments, according to real estate services firm Anarock.</p>.<p class="bodytext">Housing sales stood at 67,140 units in the year-ago period across seven cities — Delhi-NCR, Mumbai metropolitan region, Kolkata, Chennai, Bengaluru, Pune and Hyderabad.</p>.<p class="bodytext">"Around 55,080 units were sold in Q3 2019 – a decline of 20 per cent over Q2 2019, and a 18 per cent year-on-year decline," property consultant Anarock said in a report.</p>.<p class="bodytext">Apart from low sentiments, Anarock attributed the fall in housing sales to ban on subvention scheme and inauspicious 'shraadh' period.</p>.<p class="bodytext">"The decline in new supply and housing sales in this quarter was expected as both homebuyers and developers remained cautious and risk-averse," said Anuj Puri, Chairman – Anarock.</p>.<p class="bodytext">However, he said the slew of economy-boosting measures by the government to spur growth across sectors would boost housing demand in the festive season and in the ensuing quarters going forward.</p>.<p class="bodytext">"As evidenced by the quick revival of the stock markets, these measures have already bolstered all-round sentiment. Housing is intensely sentiment-driven and we expect the numbers to improve significantly going forward," Puri said.</p>.<p class="bodytext">The recent corporate tax cut will spur investments from both domestic and foreign investors, he added.</p>.<p class="bodytext">As per the data, housing sales fell in each of the seven cities tracked by Anarock.</p>.<p class="bodytext">Bengaluru saw the maximum decline of 35 per cent to 10,500 units, followed by Hyderabad that witnessed 32 per cent drop at 3,280 units.</p>.<p class="bodytext">Housing sales in Kolkata went down by 27 per cent to 3,120 units, while demand was low by 13 per cent in the national capital region at 9,830 units.</p>.<p class="bodytext">Chennai reported an 11 per cent decline at 2,620 units, while Pune clocked 8 per cent dip to 8,550 units.</p>.<p class="bodytext">Housing sales in the Mumbai metropolitan region fell by 6 per cent to 17,180 units during July-September period of this year, compared to the year ago period.</p>.<p class="bodytext">Unsold housing stock currently stood at 6.56 lakh units across the top 7 cities, a marginal decline from 6.66 lakh units at the end of June quarter. </p>
<p class="title">Housing sales declined 18 per cent to 55,080 units during the July-September period across seven major cities as buyers were cautious in making property investments, according to real estate services firm Anarock.</p>.<p class="bodytext">Housing sales stood at 67,140 units in the year-ago period across seven cities — Delhi-NCR, Mumbai metropolitan region, Kolkata, Chennai, Bengaluru, Pune and Hyderabad.</p>.<p class="bodytext">"Around 55,080 units were sold in Q3 2019 – a decline of 20 per cent over Q2 2019, and a 18 per cent year-on-year decline," property consultant Anarock said in a report.</p>.<p class="bodytext">Apart from low sentiments, Anarock attributed the fall in housing sales to ban on subvention scheme and inauspicious 'shraadh' period.</p>.<p class="bodytext">"The decline in new supply and housing sales in this quarter was expected as both homebuyers and developers remained cautious and risk-averse," said Anuj Puri, Chairman – Anarock.</p>.<p class="bodytext">However, he said the slew of economy-boosting measures by the government to spur growth across sectors would boost housing demand in the festive season and in the ensuing quarters going forward.</p>.<p class="bodytext">"As evidenced by the quick revival of the stock markets, these measures have already bolstered all-round sentiment. Housing is intensely sentiment-driven and we expect the numbers to improve significantly going forward," Puri said.</p>.<p class="bodytext">The recent corporate tax cut will spur investments from both domestic and foreign investors, he added.</p>.<p class="bodytext">As per the data, housing sales fell in each of the seven cities tracked by Anarock.</p>.<p class="bodytext">Bengaluru saw the maximum decline of 35 per cent to 10,500 units, followed by Hyderabad that witnessed 32 per cent drop at 3,280 units.</p>.<p class="bodytext">Housing sales in Kolkata went down by 27 per cent to 3,120 units, while demand was low by 13 per cent in the national capital region at 9,830 units.</p>.<p class="bodytext">Chennai reported an 11 per cent decline at 2,620 units, while Pune clocked 8 per cent dip to 8,550 units.</p>.<p class="bodytext">Housing sales in the Mumbai metropolitan region fell by 6 per cent to 17,180 units during July-September period of this year, compared to the year ago period.</p>.<p class="bodytext">Unsold housing stock currently stood at 6.56 lakh units across the top 7 cities, a marginal decline from 6.66 lakh units at the end of June quarter. </p>