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.
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.