ANAROCK Property Consultants
The Reserve Bank of India reduced repo rate by 25 basis points. Considering the state of Indian economy and struggling sectors, the rate was expected by majority of economists and market experts.
Unlike its other major counterpart MMR, NCR has fared better in shedding its overall unsold stock on both quarterly and yearly basis.
Collectively, NCR saw new supply of 5,790 units in Q3 2019 as against 4,200 units a year ago and nearly 13,570 units in the preceding quarter of Q2 2019. If we break it city-wise:
Indian real estate sector witnessed nearly 20% decline in sales in seven major cities. However, the prices have been stable as new supply declined by 34% as compared to the same period last year.
Amravati is among the youngest capital cities in South India and the state government has ambitious plans for the city.
Amravati real estate market witnessed initial euphoria but the prices have declined in many segments in the recent months as the government projects for the capital have been delayed.
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