According to data released by real estate rating and research firm Liases Foras, Bangalore and Mumbai recorded an increase in sales of residential units for the quarter ending March 2015. While Bangalore went up by 31%, the Mumbai Metropolitan Region (MMR) registered an increase of 25%. Overall, sales of residential units went up by 2% in the quarter-on-quarter analysis.
The price bracket of INR 50 lakhs to 1 crore accounted for 35% of the sales while the INR 25 lakhs to 50 lakhs came close behind with 30%.
However, this was countered by the fact that NCR and Hyderabad went down by 27% and 16% respectively. Also, NCR registered the worst months inventory at 71 months as against the market ideal of eight to 12 months. MMR was also above the ideal limit at 46 months of inventory while Pune fared much better at 18 months.
MMR was far ahead of the field in terms of new launches with 18.16 million square feet of new launches during this quarter. However, it also dropped by 2.18% in weighted average prices when compared to other cities. The fall is attributed to the fact that majority of the new launches in MMR happened in the affordable housing segment in this quarter.
SOURCE: The Realty Paper
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