Home    Home sales surge 40% in 9 months to sept on government policy reforms: JLL data

According to JLL data for the nine-month period ended September 30 sales in residential segment have risen 40% on year.

BENGALURU: Housing sales across top cities in the country is seeing some green shoots of recovery with both sales and new launches rising despite liquidity issues and low buyer sentiment with Hyderabad and Kolkata leading the revival.

According to JLL data for the nine-month period ended September 30 sales in residential segment have risen 40% on year.

Business environment for real estate has seen rapid change with series of reforms in the form of demonetisation, implementation of Real Estate (Regulation & Development) Act, 2016, the Goods & Services Tax (GST), Benami Properties (Prevention) Act and the Insolvency & Bankruptcy Code.

“While the implementation of GST and RERA led to some initial challenges for developers, most of the issues have been addressed and the industry as a whole is aligned. Going by the data for sales and new launches in the January to September period, home buyers are no longer delaying or postponing decisions on buying homes,” said Ramesh Nair, country head, JLL India.

Hyderabad and Kolkata were the standout performers with growth rates of 277% and 230% respectively. The relatively small residential markets in the two cities also provided a low base effect for the jump in bookings. These were followed by Chennai (77%), NCR (53%), Pune (19%), and Bangalore (12%), the report said.

“There is definitely an increase in confidence in the market amidst positive signs of recovery. This, coupled with stable pricing, augurs well for the industry and demonstrates the return of buyers’ confidence in the market, which has in turn prompted developers to launch new project,” Nair said.

In terms of launches, Kolkata led the way with an astounding 325% on-year growth followed by Chennai (289%) and NCR (152%) rounding off the top three. While Bengaluru and Hyderabad recorded growth rates of 101% and 82% respectively, in Pune had launches was pegged at a niggardly 3% growth.

Source: https://realty.economictimes.indiatimes.com/news/industry/home-sales-surge-40-in-9-months-to-sept-on-government-policy-reforms-jll-data/66784980

Enjoy Reading this? Share it on

Related Articles

Leave a Reply

Your email address will not be published.


Important Notice For Visitors

Thank you for visiting our website. This disclaimer (“Disclaimer”) is applicable to this website and all microsites and websites owned by Golden Touch Investments. By using or accessing this website you agree with the Disclaimer without any qualification or limitation.

This website is in the process of being updated. By accessing this website, the viewer confirms that the information including brochures and marketing collaterals on this website are solely for informational purposes only and the viewer has not relied on this information for making any booking/purchase in any project of the Company. Nothing on this website, constitutes advertising, marketing, booking, selling or an offer for sale, or invitation to purchase a unit in any project by the Company. The Company is not liable for any consequence of any action taken by the viewer relying on such material/ information on this website.

The Real Estate (Regulation and Development) Act, 2016, and Rules made thereunder (where notified) (“RERA”) have come into effect from 1st August, 2017. The contents of this website may not be fully in line with RERA as of date. We are in the process of modifying, revising and updating this website in terms of the stipulations / recommendations under RERA, which shall be completed soon. Please telephone our sales centres or visit our sales office during office hours to speak to our sales team for verifying all the details, including area, amenities, services, terms of sales and payments and other relevant terms independently with the sales team/ company prior to concluding any decision for buying any unit(s) in the projects. The information contained on this website shall not be construed to be an advertisement. We thank you for your patience and understanding.

Golden Touch Investments  shall neither be responsible nor liable for any inaccuracy in the information provided here and therefore the customers are requested to independently validate the information from the respective developers before making their decisions related to properties displayed here. Golden Touch Investments, its directors, employees, agents and other representatives shall not be liable for any action taken, cost / expenses / losses incurred, by you.

Enjoy Reading this? Share it on