Home sales below Rs 40 lakh down 18 per cent in H1: Anarock
[ad_1]
copy photo
google creative common
According to the report, the share of affordable homes in total residential sales has fallen from 31 per cent in the first half of last year to 20 per cent in the period under review. Total housing sales increased from 1,84,000 units last year to 2,28,860 units in the first half of this year.
New Delhi. Sales of affordable homes priced below Rs 40 lakh in the country’s seven major cities declined by 18 per cent to 46,650 units in the first half (January-June, 2023). Real estate advisory company Anarock gave this information in a report. Last year, 57,060 houses priced below Rs 40 lakh were sold in the January-June period. According to the report, the share of affordable homes in total residential sales has fallen from 31 per cent in the first half of last year to 20 per cent in the period under review. Total housing sales increased from 1,84,000 units last year to 2,28,860 units in the first half of this year.
Anarock Chairman Anuj Puri attributed the declining share of affordable homes in total sales to changes in demand post the COVID-19 pandemic and several other challenges faced by developers as well as consumers. He said that the prices of land have increased a lot. Their availability for developers is decreasing. ‘Even if they buy land at a higher price, it is not possible for them to sell it at a lower price.’ He said that other cost rates have also increased in the last few years. Now affordable housing projects are not that attractive deal. The cities surveyed included Mumbai Metropolitan Region (MMR), Bengaluru, Pune, Hyderabad, Chennai and Kolkata.
Disclaimer:IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
other news
[ad_2]
Source link
