Real estate activity in the city of Hyderabad has slowed down a bit. In the first quarter of this year, home sales in Hyderabad have significantly declined. Compared to the first quarter of last year, a sharp 49% decrease was recorded. Similarly, across seven major cities in the country, sales have also fallen.
According to the leading real estate firm Anarock, home sales in the first three months of this year dropped by 28%, with a total of 93,280 units sold, compared to 1,30,170 units in the first quarter of last year. Specifically, in Hyderabad, home sales have decreased by 49% in the first three months of this year, with only 10,100 units sold, compared to 19,660 units in the first quarter of 2024.
Looking at individual cities, sales in Delhi’s market dropped by 20%, with only 12,520 units sold between January and March.
In the first quarter of last year, 15,650 units were sold here. In the Mumbai Metropolitan Region (MMR), sales dropped by 26%, with only 31,610 units sold. In Bengaluru, sales decreased by 16%, with 15,000 units sold. Pune also saw a 30% drop in sales compared to the first quarter of the previous year, with 16,100 units sold. In Chennai, sales declined by 26%, with 4,050 units sold. In the Kolkata market, sales were down by 31%, with 3,900 units sold, compared to 5,650 units in the first quarter of last year.
Although the country’s economic conditions remain favourable, Anuj Puri, Chairman of Anarock, stated that the increase in home prices and the globally unfavourable situation have impacted real estate transactions.
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