Home sales in the top nine cities of India rose 8% in the April-June 2016 quarter compared to a decline of 3% in the previous quarter on the back of a surge in sales in Bengaluru, Pune and Mumbai, says a report by online real estate advisor PropTiger.
The three cities together accounted for 61% of the total sales in Q1 FY17.
The recent benefits announced by the government for development of affordable homes seems to have had a positive impact on launch of new projects in the quarter which jumped up by 14% to 41,000 units compared to 36,000 units in the preceding quarter. Over 50% of total launches were in the affordable segment.
The PropTiger report covered nine key Indian cities of Mumbai, Pune, Noida, Gurgaon, Bengaluru, Chennai, Hyderabad, Kolkata and Ahmedabad.