Realty sales across cities tepid in Q1 2019: Report

Last Updated: Fri, May 03, 2019 15:21 hrs
File photo of commuters walking past a bank sign along a road in New Delhi

New Delhi: Property sales during the first quarter of 2019 was tepid across the major cities in the country, which kept prices under pressure, according to a 99acres report.

The report observed that the January-March quarter of 2019 continued to witness the impact of liquidity crisis in the non-banking financial companies (NBFCs).

"Contrary to expectations, despite improved buying sentiment, sales volume remained tepid across cities, keeping prices under check in Jan-Mar 2019. Debt-laden developers struggled to complete ongoing projects and held new launches in anticipation of the revised GST regime," said the "Insite Report 2019".

As per the report, property prices in Delhi-NCR, Chennai, Pune and Kolkata remained unchanged on a quarter-on-quarter basis, while that in Hyderabad, Bengaluru, Mumbai and Ahmedabad increased from the previous quarter.

"Hyderabad topped the capital performance charts with a three percent rise in average weighted prices of residential apartments in Jan-Mar 2019 against the previous quarter. Bangalore, Mumbai and Ahmedabad recorded a marginal one percent uptick in average capital prices, QoQ," it said.