During the July-September period, the average price of housing fell by 2-7 percent in six cities across the country due to the corona freeze.
A study by Knight Frank India found that the fall in prices in the second quarter was due to lower demand for new home buyers in the previous quarter.
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However, in Bangalore and Hyderabad, prices rose by 3% and 4% each during July-September 2020 over the previous year. Prices of newly built houses in Chennai have fallen by an average of 7 percent, the highest in the country. This is up from 5 percent in Delhi-NCR and Pune.
Kolkata and Ahmedabad have a fall of 3 percent each, while Mumbai has a fall of 2 percent.
Of the eight major cities in the country, 6 have seen house prices fall. Hyderabad and Bangalore are the only cities in India that have seen a rise in house prices, according to a report released by Knight Frank India.
Correspondingly, home sales across the country rose to 33,403 during July-September. This is 3.5 times the sales of 9,632 homes in the same quarter last year.