Housing sales witness steep fall in 2017; demand in this region drops most
Housing sales dropped significantly during the 2015-2016 period and only an average 2.7 lakh units were sold annually, a drop of 17 per cent from the average sales of 2013-14. In 2017 calendar year, housing sales stood at 2,02,800 units. During the period under consideration, larger cities such as NCR and MMR, which were heavily driven by investor activity, recorded a massive drop of 68 per cent and 27 per cent , respectively, in average sales. In Delhi-NCR, sales fell to 37,600 in 2017 from average annual sales of 1,16,250 units during 2013-14
Housing sales: Bengaluru and Chennai, which too are on investors' radar, saw average sales decline by 17 per cent and 45 per cent, respectively. Image source: Reuters