BY OUR REAL ESTATE BUREAU | MUMBAI: Real estate research firm PropEquity said new home sales in Mumbai and NCR dropped over 50 per cent in Q1 of this calendar year.
The report covers sale of new launches alone and does not include resale of properties.
Bangalore was relatively better logging an 18 per cent fall in the numbers.
Total absorption fell to 7,704 units in Q1 from previous year’s 9,410 units.
In the Mumbai Metropolitan Region, the total absorption fell to 11,473 units from 27,676 units, year-on-year.
The total supply in Q1 of CY2012 was 89,461 units.
The total absorption in the NCR has dropped to 15,104 units from previous years’ 35,420 units.
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