Sales of homes priced up to ₹50 lakh down 9% in Jan-Mar: Knight Frank

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Sales of homes priced up to ₹50 lakh down 9% in Jan-Mar: Knight Frank - Business Standard

Quick Summary:

Real estate consultant Knight Frank India data of primary residential market showed that sales in Rs 50 lakh to Rs 1 crore segment, too, fell 6 per cent to 26,832 units during the first quarter of this calendar year.

Sales of affordable homes, costing less than Rs 50 lakh each, declined 9 per cent in January-March this year to 21,010 units across eight major cities due to high prices, elevated mortgage rates, and low supply, according to Knight Frank.

"While sales in the higher ticket sizes have been driving market growth, those in the Rs 5-10 million (Rs 50-100 lakh) and less than Rs 5 million (Rs 50 lakh) categories have dropped by 6 per cent and 9 per cent year-on-year, respectively as homebuyers focus remained on the premium category during the quarter," the report said.