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Housing sales slow down in Q3 FY2019 due to NBFC crisis: PropTiger.com Realty Decoded report

[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.

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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 : Hyderabad Metro’s 30-km stretch likely to be operational in November 2017

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 : Zakir Naik rejects ED’s charges, says all money sent to India accounted for

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 : Hyderabad Metro’s 30-km stretch likely to be operational in November 2017

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 : Hyderabad Metro’s 30-km stretch likely to be operational in November 2017

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/.
Copyright belongs to: ecis2016.org

Source: https://ecis2016.org
Category: Lifestyle

Debora Berti

Università degli Studi di Firenze, IT

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