Kolkata, Jul 11 (UNI) In a report released by PropEquity, India’s leading real estate data, research and analytics firm, sales or absorption of housing units dropped by 66% across top 9 cities in India in the second quarter of 2020 to 21,294 units versus 62,851 units in Q1 2020.
The sales fell primarily as the restrictions were imposed by the Indian government across the country to stop the spread of COVID-19 epidemic.
The new supply or launches of housing units also decreased by 81% during the same period to 11,967 units from 63,535 units in Q1 2020 as developers hardly launched any new projects as sales went to standstill.