Unsold Inventory Drop By 2%, Data For Top Seven Cities: Anarock Property
The real estate sector has recorded a whopping 50 per cent jump in the overall new housing launches in April-June quarter, and registered 24 per cent sales, reducing overall unsold inventory drop by 2 per cent, data for top seven cities by Anarock property consultants indicated.
According to the data, 50,100 new units were launched in Q2 of 2018 compared to 33,400 units in Q1 in seven cities including Mumbai Metropolitan Region (MMR), the National Capital Region (NCR), Chennai, Bengaluru, Pune, Kolkata and Hyderabad. MMR, NCR, Bengaluru and Pune accounted for 75 per cent of the new launches.
MMR had the biggest chunk with 13,600 new units, an increase of 58 per cent over the previous quarter. Pune also saw the launch of 6,900 new units powered by two large affordable housing projects.
The sales saw a 24 per cent jump with 60,800 units sold with Bengaluru witnessed the highest sales. In MMR, sales rose by 26 per cent from 12,050 units in Q1 to 15,200 units in Q2. In Pune, sales rose by 24 per cent over
The overall unsold inventory of 7.11 lakh units drop by 2 per cent from 7.11 lakh units in Q1 to 7 lakh in Q2.
The data indicate that abstaining home buyers are back on the market. Developers are working hard on clearing unsold inventory with attractive schemes, freebies and discounts. The positive impact of the policy reforms including RERA and GST have begun to bear fruit, said chairman, Anarock Property Consultants.
Affordable housing (homes of less than Rs 40 lakh) and mid-range segments (homes of less than Rs 80 lakh) continued to dominate the market with 38,500 or 77 per cent of new unit launches came in these categories. Affordable housing accounted for 46 per cent share of total new launches, the data indicated.
Considering the growth in supply and sales in first half of 2018, the upcoming festival season may finally be a vibrant one again as new launches will offer buyers a wider spread of options and help control prices, he said adding that affordable housing had kept the market’s momentum going.
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