North Chennai is an interesting location, waiting to pick up but there are a few factors which could boost growth in this region.
RERA registrations have been strong over the last one year, registering nearly 40% increase between September 2018 and October 2019.
Real estate companies have started moving faster with project registrations under RERA. 45,307 projects registered across the country as on 5th Oct.
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.
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