Sales of properties in India's two key property markets, viz. National Capital Region (NCR) and Mumbai Metropolitan Region (MMR), have slipped considerably in 2012 as are on the rise.

According to figures released by real estate data analytics & research firm PropEquity, absorption of homes in NCR slipped 42 per cent, from 81,725 units to 47,363 units, in January to August period year-on-year.

MMR witnessed a drop of 34 per cent absorption of homes to 45,049 units in January to August period of current year, from 68,740 units in the same period of previous year.

Samir Jasuja, chief executive officer of PropEquity, noted that rates of take up in NCR and MMR have improved as compared with the figures from the first quarter of the 2012, but the declining figures still hint towards the weakness in the property markets.

Gaurav Pandey of PropEquity said, "The major impact of the current economic uncertainty has been reflected in investor driven markets. However, end-user driven markets have not been affected so badly."

PropEquity held uncertain economic situation and higher prices responsible for lack of demand from investors.

As per latest real estate index by the Reserve Bank of India (RBI), the property prices jumped 24.1 per cent during the three months ended September 30 on year-on-year basis.