[ecis2016.org] Housing sales in the top nine cities of India fell by eight per cent during Q3 FY2019, as compared to the previous quarter, owing to the NBFC crisis, even though it was 30 per cent higher over the corresponding period in 2018, says a report
Sales of housing units in the top nine cities of Mumbai, Pune, Noida, Gurugram, Bengaluru, Chennai, Hyderabad, Kolkata and Ahmedabad, fell by eight per cent during the October-December period of 2018 (Q3 FY2019), as compared to the previous quarter, according to PropTiger.com’s ‘Realty Decoded Report’ for Q3 FY2019. As per the report, a total of 73,691 units were sold in Q3 FY2019 in the top nine cities, as compared to 79,894 units sold in Q2 FY2019. However, on a year-on-year (y-o-y) basis, sales improved in all the cities other than Gurugram, which witnessed a slowdown due to non-approval of affordable housing projects. Cities in Maharashtra, namely, Mumbai and Pune led the growth pack, showing more than 50 per cent improvement in sales, year-on-year.
You are reading: Housing sales slow down in Q3 FY2019 due to NBFC crisis: PropTiger.com Realty Decoded report
Housing sales in the top nine cities in Q3 FY2019
| City | Sales | ||
| Q3 FY2018 | Q3 FY2019 | Y-o-y change | |
| Ahmedabad | 2,588 | 2,746 | 6% |
| Bengaluru | 7,484 | 7,676 | 3% |
| Chennai | 3,357 | 4,213 | 25% |
| Gurugram^ | 5,017 | 3,711 | -26% |
| Hyderabad | 4,263 | 5,813 | 36% |
| Kolkata | 2,956 | 3,410 | 15% |
| Mumbai** | 16,929 | 26,067 | 54% |
| Noida* | 4,225 | 4,386 | 4% |
| Pune | 9,877 | 15,669 | 59% |
| Grand total | 56,696 | 73,691 | 30% |
Read also : Cheating case against Lodha Builders, over delayed possession, settled amicably by the flat buyer
Notes: * Noida includes Greater Noida and Yamuna Expressway; **Mumbai includes Navi Mumbai and Thane; ^ Gurugram includes Bhiwadi, Dharuhera and Sohna; Analysis includes apartments and villas across the regions.
Read also : Mumbai civic body to start repair work on 1,343 roads, in October 2018
Commenting on the report, Ankur Dhawan, chief investment officer, PropTiger.com said: “The growth momentum typically seen during the festival seasons, was not seen during the last season due to the liquidity crunch caused by the snowballing of the IL&FS issue, which slowed down home loan disbursals and new sanctions by large home finance companies. However, if we compare the numbers with the same quarter of FY2018, sales are 30 per cent higher, which is good news for the industry.”
[ecis2016.org] Residential sales grew by six per cent in 2018; launches rise by 76 per cent: Report
New launches in the top nine cities in Q3 FY2019
Launches at the national level improved by a mere three per cent year-on-year, primarily due to a 48 per cent drop in new launches in Mumbai. Cities, where launches improved significantly include Bengaluru, Gurugram, Chennai and Pune.
| City | Launches | ||
| Q3 FY2018 | Q3 FY2019 | Y-o-y change | |
| Ahmedabad | 2,274 | 1,841 | -19% |
| Bengaluru | 2,761 | 6,513 | 136% |
| Chennai | 2,151 | 4,206 | 96% |
| Gurugram^ | 2,458 | 6,047 | 146% |
| Hyderabad | 6,263 | 2,128 | -66% |
| Kolkata | 2,646 | 2,846 | 8% |
| Mumbai** | 16,703 | 8,749 | -48% |
| Noida* | 1,587 | 723 | -54% |
| Pune | 7,211 | 12,217 | 69% |
| Grand total | 44,054 | 45,270 | 3% |
Read also : Cheating case against Lodha Builders, over delayed possession, settled amicably by the flat buyer
Notes: * Noida includes Greater Noida and Yamuna Expressway; **Mumbai includes Navi Mumbai and Thane; ^ Gurugram includes Bhiwadi, Dharuhera and Sohna; Analysis includes apartments and villas across the regions.
Unsold inventory in the top nine cities in Q3 FY2019
Reduced launches and improved sales brought down the unsold inventory by 10 per cent to 7,99,081 units. Inventory overhang decreased to 31 months, as compared to 34 months in the previous quarter. Ahmedabad had the highest inventory overhang of 45 months, followed by Kolkata at 41 months. Hyderabad witnessed the lowest inventory overhang of 20 months, followed by Chennai and Bengaluru at 22 and 24 months, respectively.
| City | Unsold Inventory as on quarter end | ||
| Q3 FY2018 | Q3 FY2019 | Y-o-y change | |
| Ahmedabad | 52,038 | 52,645 | 1% |
| Bengaluru | 85,063 | 77,145 | -9% |
| Chennai | 39,083 | 34,449 | -12% |
| Gurugram^ | 49,497 | 47,952 | -3% |
| Hyderabad | 42,011 | 36,364 | -13% |
| Kolkata | 46,450 | 46,803 | 1% |
| Mumbai** | 3,37,378 | 2,97,120 | -12% |
| Noida* | 84,507 | 66,720 | -21% |
| Pune | 1,56,148 | 1,39,883 | -10% |
| Grand total | 8,92,175 | 7,99,081 | -10% |
Read also : Cheating case against Lodha Builders, over delayed possession, settled amicably by the flat buyer
Notes: * Noida includes Greater Noida and Yamuna Expressway; **Mumbai includes Navi Mumbai and Thane; ^ Gurugram includes Bhiwadi, Dharuhera and Sohna; Analysis includes apartments and villas across the regions.
Source: https://ecis2016.org/.
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Source: https://ecis2016.org
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