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Residential demand goes down in south

According to Anarock Research, sale of residential units in Bengaluru and Hyderabad in the third quarter of 2019 dropped by 35% and 32%, respectively.

ET Bureau|
Updated: Oct 01, 2019, 09.50 AM IST
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The average sales for the top 7 Indian cities —declined by 18% from 67,140 units in Q3 of 2018 due to the ‘shradh’ period.
The housing market slowdown has now spread to the country’s most resilient real estate zone—southern India. According to Anarock Research, sale of residential units in Bengaluru and Hyderabad in the third quarter of 2019 dropped by 35% and 32%, respectively, from a year ago to 10,500 and 3,280 units. The average sales for the top 7 Indian cities —declined by 18% from 67,140 units in Q3 of 2018 due to the ‘shradh’ period— considered as inauspicious in many parts of the country—and the ban on subvention schemes.

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