According to property research firm Liases Foras, home sales bounced back in the December quarter.Property prices, however, grew an average 1 percent quarter-on-quarter in the top six cities, continuing a trend of marginal growth that has been on for six quarters now.
When new launches saw a 14 percent decline in the quarter and economic slowdown along with the uncertainty due to the upcoming elections pushed sales down, Developers offered discounts—waiver of stamp duty and registration fees, broker or agent’s bills, foreign trip, car, freebies like air conditioners, furnishings and modular kitchens— worth lakhs of rupee.
Bangalore posted the biggest gain with home sales growing 58 percent over a year ago between October and December. The National Capital Region (NCR) registered the smallest gain of 4 percent among the top six cities. Home sales in Pune rose 48 percent while those in Mumbai Metropolitan Region (MMR) were up 26 percent.
Source: The Economic Times