MUMBAI: Home sales across top 9 Indian cities grew 6% to 51,142 units during the third quarter ended September aided by continuous recovery over the past few quarters, showed data from PropEquity.“As developers cleared old inventory and launched new phases/towers of previously launched projects, new launches took a dip in the third quarter and are expected to rise in the coming festive quarter,” the report said.
New launches across key cities decreased 22% sequentially. However, grew 12% to 32,870 units during the quarter.
The report on 9 cities including Gurgaon, Noida, Mumbai, Kolkata, Pune, Hyderabad, Bengaluru, Thane and Chennai is based on data listed on PropEquity portal.
As the real estate market accustomed to reforms like GST & RERA, absorption for ready to move and nearing completion projects picked up. Unsold inventory dipped 3% to 617,456 units and by 8% from the year ago period.