Housing sales fell by 41 per cent during January-May period of 2017 at 1.10 lakh units across 42 major cities as property demand continued to be sluggish post demonetisation, according to PropEquity. Housing sales stood at 1.87 lakh units during the year- ago period. The real estate market is facing a multi-year slowdown, leading to significant delays in projects execution forcing buyers to protest and file cases against developers in courts. However, the affordable housing segment has started to pick up with fall in interest rates and the government's move to accord infrastructure status to low-cost homes and provide interest subsidy. "Housing sales have declined during January-May period as market continues to be slow post demonetisation," PropEquity founder and CEO Samir Jasuja told(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)

Source: dna July 02, 2017 07:04 UTC