New Delhi: The monthly average housing sales fell 40% during November-December period in the top nine cities as customers deferred their decision to buy homes on expectation of fall in prices after the demonetisation move, according to realty portal PropTiger.com. “Before demonetisation, the monthly average residential sales and launches during July-October months were at around 19,000 units and 18,000 units, respectively, which were affected drastically on account of currency demonetisation. Housing sales across these nine cities declined by 20% to 43,512 units during October-December quarter of this fiscal from 54,721 units in the previous quarter. The pace of decline in overall sales activity over previous quarter is the highest in the past 12 quarters, it said. Among cities, Gurgaon, Noida and Ahmedabad showed a 30% to 40% decline in sales in the third quarter of 2016-17 over the previous quarter.

Source: Mint February 12, 2017 10:51 UTC