An increase in the listed Real estate Player’s sales in September quarter

As per a report published by Anarock Property Consultants, The listed players have shown a increase in the sales, where it is a time of a major drop in the market of real estate in the September quarter.

Nine listed players –Mahindra, Brigade, DLF, Godrej, Oberoi, Kolte Patil, Sobha, Prestige, Purvankara – registered an increase of 9% in sales during July-September quarter as compared to the previous quarter, as per the Anarock. These developers sold around 7.25 million sq ft in September quarter which was 6.64 million sq ft in the April to June quarter.

Anuj Puri, chairman, Anarock Property Consultants said the listed players are beneficial to the industry.

“There is massive consolidation happening, with smaller companies selling their projects and land banks to the better-capitalized strong companies. These developers have vastly superior execution capabilities and capitalization, and enjoy much higher credibility with both buyers and lending institutions,” Puri said.

“We are clearly seeing the emergence of strong, organized developers whose strengths are amplified, rather than diminished, by the newly regulated market environment. Even the most conservative industry estimates indicate a staggering number of developers in the top cities who have been either wiped off the map, or have merged with organized developers after DeMo and RERA,” he added.

However, as per Liases Foras, a Mumbai based real estate data analytics company, the overall decline in the sales was noticed.

“The top 35 cities registered a sales of 91,115 units in September quarter. This was 2% lower than the 93,426 units sold in the previous quarter. Out of 35 cities, 22 witnessed a drop in sales,” said the report.