New Delhi: The value of residential property sold in the third quarter of the current year tanked 17 percent to Rs 42,040 crore as compared to Rs 50,535 crore in the same period of the 2018 in the top seven cities of the country, according to ANAROCK Property Consultants.
The third quarter saw the worst sales among the three quarters of the current year.
The value of houses sold in Bengaluru in the third quarter was Rs 7,540 crore. The city saw the highest drop of 35 percent in sales in Q3 2019 as compared to Q3 2018.
The value of houses sold in Mumbai was Rs 17,300 crore in Q3 2019 as compared to Rs 18,585 crore in the same period of 2018, a decline of seven percent.
Pune witnessed the lowest decline in value of housing sales in Q3 2019. Properties worth Rs 4,775 crore were sold in Q3 2019 as compared to Rs 5,035 crore in Q3 2018.
Hyderabad witnessed 31 percent decline in sales value. The vale if the homes sold in Q3 of 2019 was Rs 2,350 crore.
Delhi NCR witnessed 13 percent annual drop in home sales value. It went down from Rs 6,745 crore in Q3 2019 to Rs 7,775 crore in Q3 2018.
Chennai witnessed sales value decline of 10 percent and the value was Rs 1,620 crore in Q3 of 2019. Kolkata saw value of housing sales go down by a whopping 29 percent and the value was Rs 1,710 crore in Q3 of 2019.