Real estate records resounding recovery

    Real Estate Recovery
    The available stats indicated that the country's real estate sector has recorded resounding recovery in top nine cities of India by recording 8 percent growth in the April-June 2016 quarter, compared to a decline of 3 percent in the previous quarter. The realty sector rides high largely 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 during the period. The recent benefits announced by the government for development of affordable homes seems to have had a positive impact on the launch of new projects which jumped up by 14% i.e., to 41,000 units compared to 36,000 units in the preceding quarter. Over 50% of the 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, the report claimed.
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