[INDIA REAL ESTATE NEWS] Good morning everyone I am Rumi Dhar from Kama Group.
Here I have important INDIA real estate news to share with you which is as mention under.
MUMBAI: The unprecedented disruptions caused by Covid19 outbreak including job losses,
salary cuts and concerns over future economic growth has hit the housing market with lower
sales and price correction.
In the first half ended June, weighted average prices have declined across most Indian cities
with the National Capital Region, Pune and Chennai witnessing the most correction at 5.8%,
5.4% and 5.5% from a year ago, respectively, showed a Knight Frank India report.
The information technology sector driven markets of Hyderabad and Bengaluru, however,
witnessed price growth of 6.9% and 3.3% during the period.
After two years of steady demand, the home sales in top eight cities of India declined by a
54% on-year to a decadal low of 59,538 units during the period. Most of the sales activity
was concentrated in the first quarter of the year. Around 47% of home sales were registered
in properties priced below Rs 50 lakh indicating the continuation of of preference for
Read more at: