Brokerage firm PropTiger attributed the decline in home sales numbers to changes in the Goods and Services Tax (GST) transition rules.
'The sector is currently riding on a new wave of optimism following the triple benefits it received from the government in the first three months of 2019.'
The Real Estate Investment Trust (REITs), an instrument to boost investment in rent-yielding commercial assets, failed to gain traction yet again.
Property consultants and real estate experts predict low housing sales due to ongoing liquidity crisis and upcoming general elections.
ANAROCK Property Consultants Chairman Anuj Puri attributed the rise in residential sales to an overall favorable macroeconomic environment over the last one year.
The Reserve Bank for the second time in two months has raised its benchmark interest rate by 25 basis points on inflationary concerns.