The monthly average housing sales fell 40 per cent during November-December period in the top nine cities as customers deferred their decision to buy homes on expectation of fall in prices after the demonetisation move, according to realty portal PropTiger.com.
The News Corp-backed portal, which recently merged Housing.com with itself, tracks primary residential markets of nine cities –Gurgaon, Noida, Mumbai, Pune,
Bengaluru, Hyderabad, Chennai, Kolkata and Ahmedabad.
"Before demonetisation, the monthly average residential sales and launches during July-October months were at around 19,000 units and 18,000 units, respectively, which were affected drastically on account of currency demonetisation," PropTiger said in its latest report 'Realty Decoded Q3 FY17'.
"The monthly average sales and launches were reduced drastically during November-December months by 40 per cent and 49 per cent respectively," it said.