Daijiworld Media Network - Bengaluru (SP)
Bengaluru, Mar 2: Both the real estate and auto sectors have picked up sales during February this year. The effect of demonetisation which seemed to have briefly throttled their growth, seems to have worn off. While the real estate segment has regained the stability it had before demonetisation pricess, car sales of companies like Hyundai, Maruti Suzuki, Honda, Tata Motors and Toyota have registered an impressive increase during February.
Sudhir Pai, chief executive officer of Magic Brix, says that as per the recent property index report, out of 14 cities in the country, average prices of ready-to-move houses have come down in eight during the recent quarter. This sector governs only seven percent of the total property sector, and there is hope in sales of yet-to-begin projects where demand has shown an increase. He says that there was a marginal decrease in prices of properties in certain extensions in the city in the recent past but on an average, residential properties across the city have registered increase of 3.1 percent in 62 percent of extensions. The property index in the city has remained firm although some areas of north India and other areas showed a downward trend in realty sector. Cities like Hyderabad, Greater Noida, Thane and Navi Mumbai too have shown an appreciation in property Index, he added.
Maruti Suzuki sold 1,20,735 cars in the entire country during February this year as compared to 1,08,115 units it had sold during the same period last year, showing a growth of 11.7 percent. The growth witnessed is across the board, with cars like Swift, Estilo, Swift D'Zire and Baleno registering good growth. There has been a quantum leap in sale of utility vehicles like Gypsy, Grand Vitara, Ertiga, S-Cross and compact SUV, Vitara Brezza. However, sale of mini segment cars like Alto and Wagon-R have come down. Hyundai, Toyota and Tata Motors too have registered increase of 11 to 12 percent in sales, whereas Renault said it has achieved an increase of 26.8 percent in sales during February this year as compared to the same period last year.