Real estate experts say that the sector has stabilised in the sense that the sales are flat and the graph is no longer decreasing. Developers and builders are hoping that the market will improve in the coming months.
Oberoi Realty also witnessed a 13 per cent increase in sales sequentially to 0.12 million sq ft. The company's sales, however, declined compared with a year-ago period.
Sobha Developers' sales improved by around 24 per cent from a year ago to 1.07 million sq ft of space at a sales value of Rs 674 crore with an average price realisation of Rs 6,295 per sq ft. The company launched 1.51 million sq ft of new projects in the quarter.
Mumbai-based Godrej Properties sold 0.5 million sq ft for Rs 530 crore during the first three months of 2013 against 0.44 million sq ft for Rs 290 crore sold a year ago.