Real estate trying to recover from downfall

Real estate sector in India seems to have recovering from the downfall over the last few years from the huge pile up in debts arising from Property Companies and slow sales rate that have been continuing from a long time, according to a new report. Banking sectors providing sharp reduction in retail home loans, healthy demand across the micro markets and realty companies stabilising debts have undoubtedly worked well in the favour of realty sector. According to a realty expert the sales have been robust except in Hyderabad. 

Mumbai remained sluggish while Pune on the other hand saw an increase in volumes. Among the major cities, Chennai and The National Capital Region (NCR) led the pack. A jump of 14.8 per cent in volumes was observed in NCR in March quarter. Pune saw jump of 34.1 per cent increase in volume and a jump of 29 per cent was seen in Chennai. Real estate developer, DLF reported that sales volume of 11 major cities have increased by 28 per cent in the end of the march which was led by strong revival in sales. 42 per cent of sector volumes were reported by DLF. The net debt aggregate of 11 companies had declined due to increase in volume of sales.