Realty major Unitech Ltd sales have declined by 50 pc during the first half of the current fiscal at Rs 750 due to global slowdown in the property market in recent times.

It had sold properties worth Rs 1,550 cr in the first six month of the last fiscal which is way above than this year. Sales booking have fallen despite hike in the average of understanding in recent times.

In terms of volume, the realty firm sold 1.10 million sq ft during this April-September period compared to 3.10 million sq ft last fiscal.

The average price understanding stood at Rs 6,830 per sq ft during the first half against Rs 5,035 per sq ft last fiscal in this time period.  It launched only 0.55 million sq ft during the first half against 2.95 million sq ft last year.

The real estate sector is facing a global slowdown in sales mainly due to the high interest rate on home loans and rising property cost in recent times.

Out of the total Rs 750 cr, the residential sector contributed Rs 550 cr and the non-residential gave the rest amount to the firm.

The firm has 1.8 million sq ft delivered during the first two quarters and finishing off its 23 projects from 32 launched before March 2009.

Last week, the firm declared 48 pc down fall in the net profit at Rs 26 cr for the Q2 due to higher expenses. It has shown a profit of Rs 50 cr a year ago. Net sales rose by 12 pc to Rs 600 cr against Rs 540 cr in the previous year.

The firm has presence in various parts of the country.