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Realty pre-sales to clock robust growth in FY24
Business Standard
|December 06, 2023
Real estate pre-sales in India are estimated to grow by 30 per cent year-onyear (Y-o-Y) in 2023-24 (FY24), driven by sustenance sales as launches were subdued for most companies, according to a Motilal Oswal report.
'Sustenance sales' refer to brisk sales of residual inventory from existing projects.
Twelve listed real estate companies registered their second-best quarter ever, with cumulative pre-sales of ₹252 billion, up 54 per cent Yo-Y and 44 per cent quarter-on-quarter.
Ongoing projects contributed 56 per cent to total pre-sales in the first half (H1) of FY24. At the same time, new launches reported a 60 per cent absorption, contributing to 44 per cent of pre-sales, according to Motilal Oswal.
Typically, 'pre-sales' is a term used by developers to indicate that a certain amount of inventory has been booked in a given period, but only a part of the payment has been received.
यह कहानी Business Standard के December 06, 2023 संस्करण से ली गई है।
हजारों चुनिंदा प्रीमियम कहानियों और 10,000 से अधिक पत्रिकाओं और समाचार पत्रों तक पहुंचने के लिए मैगज़्टर गोल्ड की सदस्यता लें।
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