The residential real estate market continues to reel under severe shortage of demand. All-India property sales contracted 15% y-o-y in Oct as consumers remained cautious in a slowing economy, analysts at Kotak Institutional equities wrote.
Given the large unsold inventory, new launches fell by a sharper 30% y-o-y. The total inventory fell 11% in Oct to levels of 1.27 billion sq ft.
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Source: Financial Express