Housing sales in MMR and Pune declined by 30% to nearly 42,000 units in the June quarter due to a surge in prices, according to data released by PropTiger.
Sales in India's primary residential markets fell 14% to 97,674 units in April-June this year, compared to 113,768 units in the same period last year.
The drop in sales is attributed to affordability issues in the budget and mid-income segments, leading to cautious buyer sentiment, as mentioned by Sridhar Srinivasan, Head of Sales at PropTiger.
Despite the decline in sales in MMR, Pune, and other cities, Bengaluru and Chennai experienced an increase in housing sales, with Bengaluru witnessing a 16% rise and Chennai a 33% spike.