Residential project launches in july-sep quarter rose 20% in six cities-Report

According to the Colliers International India report, Number of residential project launches in July-September quarter rose 20% from a year ago across top six property markets in India. Housing project launches in Mumbai, Bengaluru, Chennai, Pune, Noida and Gurgaon were a little less than 25,000 units making it about 67,000 so far for the year 2016.   As per report,Residential market in the western India recorded maximum number of launches in Mumbai and Pune with 28% and 23% share of the total unit launches during the quarter, respectively. This was followed by Bengaluru at 17%, Noida 16%, Chennai 9% and Gurgaon 7%. After almost three quarters, the Gurgaon and Nodia residential market have witnessed several new launches during the quarter in the wake of upcoming festive season.   The Mumbai residential market witnessed improved sentiments and increase in the number of new unit launches during the quarter. A quarter-on-quarter (QOQ) increase of around 70% was observed with a little less than 7,000 units launched, increasing the total number of units to 17,300 for 2016 so far.   High end and luxury residential developments constituted almost 70% of the unit launches in suburban Mumbai. Mid end developments mostly prevailed in Navi Mumbai where homes are comparatively affordable. Almost 50-60% of the resale inventory in South Mumbai remains unsold this quarter despite the decrease in sale prices. Sources: News

Leave a Reply

Your email address will not be published. Required fields are marked *