Housing sales are estimated to decline 23 per cent annually to nearly 1.06 lakh units during January-March across nine major cities on subdued demand due to high prices and concern over economic growth, according to PropEquity.
Real estate data analytics firm PropEquity on Sunday released its housing sales data for January-March period.
As per the data, housing sales are estimated to fall to 1,05,791 units in the first quarter of the 2025 calendar year from 1,36,702 units in the same period last year.
Only Delhi-NCR and Bengaluru are expected to witness a rise in sales this quarter among nine major cities.
Samir Jasuja, Founder & CEO, PropEquity, said: "The housing market is witnessing some correction after three years of record supply because of which absorption/sales is also on a declining trend." New supply of housing properties is estimated to decline 34 per cent to 80,774 units in the current quarter from 1,22,365 units in the year-ago period.
"Rise in home prices and caution on the part of investors due to geopolitical developments and certain weaknesses in the Indian economy have resulted in drop in sales," Jasuja added.
In Bengaluru, housing sales are likely to rise 10 per cent to 18,508 units in January-March 2025 from 16,768 units in the year-ago period.
Delhi NCR is also expected to see a 10 per cent growth in sales to 11,221 units from 10,235 units.
However, sales of residential properties in Chennai might fall 2 per cent to 4,858 units from 4,962 units.
Hyderabad could see a drop of 47 per cent in sales to 11,114 units from 20,835 units.
Housing sales in Kolkata are estimated to decrease 28 per cent to 4,219 units from 5,882 units.
In Mumbai, the housing sales are projected to fall 36 per cent to 10,432 units from 16,204 units.
Navi Mumbai, too, is expected to see a drop of 7 per cent to 8,551 units from 9,218 units.
Housing sales in Pune are likely to fall 33 per cent to 17,634 units from 26,364 units.
In Thane, the housing sales could drop by 27 per cent to 19,254 units in January-March 2025 from 26,234 units in the corresponding period of the last year, the PropEquity data showed.
P E Analytics Ltd, a NSE-listed firm, owns and operates PropEquity, an online real estate data and analytics platform covering over 1.7 lakh projects of more than 57,000 developers across 44 cities.
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