JAIPUR: Following increases in the March and June quarters, real estate sales in Rajasthan experienced a decline in the September quarter, according to data from the Registration & Stamps Department.
While industry representatives caution against reading too much into a single quarter’s performance, they express concern over a potential downward trend influenced by high US tariffs.
The total value of property transactions rose from Rs 2,206 crore in the December 2024 quarter to Rs 2,330 crore and Rs 2,569 crore in the March and June quarters, respectively.
However, the September quarter saw a slight decrease, totaling around Rs 2,553 crore.
Rajendra Singh Pachar, Vice Chairman of the Confederation of Real Estate Developers’ Association of India (Credai), Rajasthan, commented, “We should not overanalyze the results of just one quarter. Some slowdown is typical following consistent growth since the sector’s recovery from Covid-19.”
When asked about the potential consequences of high US tariffs on exports and jobs, Pachar noted, “It’s still too early to assess. The December quarter will provide a clearer picture. Even if there is an impact, it’s unlikely to raise alarm bells within the industry.”
In Jaipur, the announcement of new large residential projects has slowed, with insiders suggesting a transition from residential expansion to new land development.
Abhishek Mishra, Director at Trimurty Builders, stated, “Investors have recognized that residential housing units do not yield strong returns. Consequently, there is a growing preference for land plots over flats. This shift indicates a waning demand for housing units, compared to prior growth cycles.”
Mishra remains hopeful for an improvement in the December quarter, even if growth figures stay in single digits.
