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Homes sales In NCR and Mumbai Down By 55%

According to property research and analytics firm PropEquity, Home sales in Delhi-NCR and the Mumbai Metropolitan Region is down for about 50% for the month of January-March 2012.

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This happens due to economic problems and also with the high price of homes these days. There are some who could not anymore afford the cost of having their own homes today. Though a lot of people definitely want to have their own home, the problem is that their resources would not permit them to do so.

In a statement given by Samir Jasuja the chief executive officer of PropEquity, they are expecting inventory overhang to increase for the coming quarters of this fiscal year. Also absorption could continue to slow down.

This problem has already hit Mumbai and Gurgaon where sharpest falls in absorption was observed with MMR seeing a drop of 58% and NCR with a drop of 57%. If this would continue, surely there will be a correction in the price of micro-markets.


Source: http://articles.economictimes.indiatimes.com/2012-06-16/news/32269300_1_pressures-on-many-micro-markets-mmr-and-hyderabad-delhi-ncr

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