New Delhi: Monthly average housing sales fell 40 per cent during November-December 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."
Developers were focusing their efforts to lure customers by offering additional freebies such as jewellery, electronic items, automobiles, holiday package and appliances on the purchase of housing units, it added.
Builders also offered price guarantee, rental assurance, subvention and buyback schemes to bring confidence in the sector.