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.
Indian real estate sector has been witnessing decline over last few years. However, the latest report suggests that 20% decline in housing sales have been offset by 34% decline in new launches.
Indian markets have witnessed slight pullback over the last few trading sessions and mid-cap stocks have gained momentum. Markets are expected to remain range-bound in the next couple of weeks.