Realty sales across cities tepid in Q1 2019: Report

New Delhi, May 3 (IANS) Property sales during the first quarter of 2019 was tepid across the major cities in the country, which kept prices under pressure, according to a 99acres report.The report observed that the January-March quarter of 2019 continued to witness the impact of liquidity crisis in the non-banking financial companies (NBFCs)."Contrary to expectations, despite improved buying sentiment, sales volume remained tepid across cities, keeping prices under check in Jan-Mar 2019. Debt-laden developers struggled to complete ongoing projects and held new launches in anticipation of the revised GST regime," said the "Insite Report 2019".As per the report, property prices in Delhi-NCR, Chennai, Pune and Kolkata remained unchanged on a quarter-on-quarter basis, while that in Hyderabad, Bengaluru, Mumbai and Ahmedabad increased from the previous quarter. "Hyderabad topped the capital performance charts with a three percent rise in average weighted prices of residential apartments in Jan-Mar 2019 against the previous quarter. Bangalore, Mumbai and Ahmedabad recorded a marginal one percent uptick in average capital prices, QoQ," it said.


--IANS rrb/in