Housing Market Turbulence: Prices Soar, Sales Plummet

Housing prices across India's key urban centers saw an 11% surge during the April-June quarter, causing a notable 20% decline in overall sales, as per a report by real estate consultant Anarock.

The data revealed variations across the top seven cities, with declines in sales in major regions except for an increase in Chennai. The hitting effects of military actions and geopolitical tensions were felt across the housing market landscape.

However, easing domestic tensions and the Reserve Bank of India's rate cut have brought renewed optimism, alongside promising buyer sentiment, despite the earlier spike in property prices and market hesitancy.

(With inputs from agencies.)