Chennai witnessed drop in sales volume

Q: Hey heard that Chennai witnessed drop in sales volume. Kindly discuss on this news and let me know the details.

Uday kumar, Chennai

26th February 2014

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Replies (3)

Hey the poor sentiment among home buyers has resulted in a decelerating trend in terms of sales over last four quarters. So the developers in Chennai have been smart enough to take cognizance of such a trend and have reduced the number of new launches in the preceding 12 months.

Balwinder Singh,

26th February 2014

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@Pranab: : The housing prices in the city increased by 5-7 per cent in the last year despite a decline in sales volume as developers restricted supply by offering fewer homes in the market.

Vivek Kulkarni,

26th February 2014

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Can you tell me what was the reason for the slowing economic growth ?

Himani,

26th February 2014

@Himani: The reason it may be as due to rising interest rates by banks, high inflation and the weak rupee among others have contributed towards building a negative sentiment among home buyers.

Pranab Malakar,

26th February 2014

Hey Uday, even I heard housing sales in Chennai dropped 33 per cent to 18,200 units in 2013 due to slowdown in the realty market and high interest rates.

Pranab Malakar,

26th February 2014

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