Real Estate sector struggle continued in Q2 FY’18: PropTiger; Experts Differ

iBy Accommodation Times Bureau

National, October 26, 2017 – PropTiger. com, part of Elara Technologies Pte Ltd which also owns Housing. com and Makaan. com, today released the findings of its ‘Realty Decoded Report’ for the Q2’FY 18 (July-September). As per the report, Mumbai and Gurugram have shown improvement in both new launches and sales in Q2 FY’18. The key driver for increased new launches in Gurugram and Mumbai is the affordable housing launches under Haryana Affordable Housing Policy 2013 and timely implementation of RERA in Maharashtra respectively. Due to improved buyer confidence, Mumbai and Gurugram recorded an increase in sales by 6% and 60% respectively over Q2 FY’17.

Pankaj Kapoor, CEO , Liases Foras, one of oldest research house differ the statements made in the report. In his communication to this paper he said that Our numbers are different. I don’t agree.

Experts in the industry are optimistic. Niranjan Hiranandani, National President NAREDCO said that Tsunami effect has gradually slow down,buyers are out again,offered with better choices of their dream home in festive sentiments.

According to the report, RERA, though applicable since May 2017, was not implemented in many key states such as Karnataka, Haryana, Telangana, Uttar Pradesh till the middle of July 2017 which had a major impact on new launches. New launches dropped by 53% in Q2 FY’18 as compared to Q2 FY’17. A major drop in launches was seen in cities such as Ahmedabad, Hyderabad, Chennai and Kolkata where new launches are ~10% of new launches in Q2 FY’17.

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