Housing sales dropped 17 per cent during 2017 in nine major cities of the country because of demand slowdown and impact of new realty law, according to a report by realty portal PropTiger. Sales declined to 2,18,500 units last year in nine cities -- Gurgaon, Noida, Mumbai, Bengaluru, Chennai, Kolkata, Pune, Hyderabad and Ahmedabad -- against 2,63,500 units in 2016, the News Corp-backed PropTiger said in its report. Launches fell by 43 per cent to 1,63,573 units in 2017 from 2,88,748 units in the previous year.
Yesterday, Knight Frank India released its report and reported 7 per cent decline in housing sales and 41 per cent fall in home launches during last year in eight top cities. Cushman & Wakefield reported 35 per cent fall in launches. -- PTI