PROPGUIDE − A Complete Property Guide

Star Real Estate Performers In Q2  

Star Real Estate Performers In Q2  

An analysis of nine major cities by PropTiger DataLabs shows that overall home sales figures in the second quarter of the financial year 2016-17 (FY17) are not encouraging ---when compared to the previous quarter as home sales have declined one per cent. However, the fall could have been worse had it not been for some cities performing exceptionally well. Their performance becomes more noticeable in light of the fact that home buyers exercised caution during the July-September quarter in hope of grabbing a better deal during the festive season.
Here are the four cities that saved the day for India’s real estate in the second quarter:
The West Bengal capital saw a quarterly sales growth of 35 per cent, the highest registered by a city in the September quarter. In terms of new launches, too, Kolkata registered the highest growth. New launches saw a 480 per cent appreciation in Q2 over Q1. At 31 months, the inventory overhand in the city was also comparatively low. A pick up in sales could be attributed to a correction in property prices—real estate in city saw a marginal correction of two per cent in the Q2 over the same quarter in the previous financial year.
Figures of new launches and home sales in the City of Nizams show the city is headed for a sustainable growth. While new launches in the quarter went up 20 per cent over the previous quarter, home sales saw an uptick of 24 per cent during the same period. At 21 months, the inventory overhang in the city also remained lower when compared to other major cities. Property prices, too, saw an annual increase of 11 per cent in the September quarter.
Data show Ahmedabad has plenty of new stock to offer and those looking for affordable housing will be spoilt for choice here. At 57 per cent, the quarterly growth in new launches have been tremendous in the Gujarat city. Homes sales, on the other hand, saw an increase of seven per cent over the previous quarter. The inventory overhang stayed at 29 months. Property prices saw an annual appreciation of three per cent.
When compared to the other three cities, new launches were lower in Chennai. This could be due to a higher inventory overhang. While new launches went up 15 per cent, home sales saw a marginal increase of two per cent in the second quarter over the previous quarter. The inventory overhang in Chennai stood at 38 months. Property prices increased four per cent year-on-year in the Tamil Nadu capital.
Note: The nine cities included in the analysis are Ahmedabad, Bengaluru, Chennai, Gurgaon (including Bhiwadi, Dharuhera and Sohna), Hyderabad, Kolkata, Mumbai (including Navi Mumbai and Thane), Noida (including Greater Noida and Yamuna Expressway), and Pune.

Tags: new launches, Chennai, Kolkata, Hyderabad, Ahmedabad, Real Estate, PropTiger Datalabs, propguide, Data, Q2

Monthly Watch: Home Sales In Ahmedabad Up 14% In September

New launches have, however, seen a decline of 58 per cent over the previous month.

December 01 2016

+ Click Here To Read This Article

Is NCR Losing Out To Mumbai, Bengaluru, Pune?

The National Capital Region, for very long, has been the largest residential real estate market in India. But, is NCR losing out to Mumbai, Bengaluru and Pune?

November 10 2015

+ Click Here To Read This Article

Home Sales Up 8% in Q1, Launches Rise 14%: DataLabs Report

According to the latest PropTiger DataLabs report, residential real estate sales in Q1, FY17, grew 8% over Q4, FY16. Also, new unit launches across top 9 cities increased 14% quarter-on-quarter.

July 27 2016

+ Click Here To Read This Article

The ‘Serious’ Home Buyer Drove Residential Market In Q4: Report

Investors took a back seat, while end-use home buyers were active in the real estate sector, shows the PropTiger DataLabs report for Q4 (January-March 2016).

April 21 2016

+ Click Here To Read This Article

Realty Decoded Q4 FY'16: A PropTiger DataLabs Report

Get full access to the PropTiger DataLabs report for the fourth quarter (January-March 2016).

April 21 2016

+ Click Here To Read This Article

5 Cities That Saw The Highest New Launches In Q2

According to PropTiger DataLabs data, Mumbai topped the list.

October 27 2016

+ Click Here To Read This Article

Realty Shines In South; Hyderabad Sees 176% Spike In New Launches

According to PropTiger DataLabs report, new launches in southern cities saw a monthly increase of 13 per cent in July.

September 02 2016

+ Click Here To Read This Article

Ahmedabad, Hyderabad Are The Shining Stars Of Q1: DataLabs Report  

According to a PropTiger DataLabs report for the first quarter of the financial year 2016-17, annual property prices in Ahmedabad and Hyderabad increased seven per cent and eight per cent, respectively.

July 28 2016

+ Click Here To Read This Article

As per an EY report titled ‘India’s growth paradigm: How markets beyond metros have transformed’,...

We list five global cities that offer you a comparatively low cost of living. Here is a little tip....

Here are today’s top news stories from the real estate sector.

To fulfil the soaring demand for luxury property among potential home buyers in Bengaluru, the...

The Goods And Services Taxes has clearned a proposal to charge a cess of 15 per cent on luxury cars...

PropGuide tells you how a better metro connectivity will raise real estate prices in Noida.

The first phase of a Metro network is already changing the way people commute in Bengaluru. Upon...

Banks and developers are taking several initiatives to shift India’s home-ownership pattern in...

A building code is a set of norms that govern construction of buildings by stipulating minimum...

PropGuide simplifies complex real estate jargons for you.

Proptiger has released it's quarterly review report on India's real estate sector. Ankur Dhawan,...

Prime lending rate is the interest rate at which banks lend to its most credit worthy...

Subscribe Now

To stay tuned with real estate updates


x +

Drop Your Query here