According
to the latest quarterly reports, global real estate consultancy, Cushman &
Wakefield (C&W), the National Capital Region (NCR) witnessed the launch of
about 7,600 units, a decline of 39 % compared to the previous quarter.
The
new launches were concentrated in the suburban locations of Gurgaon (66 %) and
Noida (34 %) with over 80 % of units catering to the mid-range segment.
Due
to the subdued demand, Noida witnessed a steep decline in new launches at close
to 70 % and ended up being the primary contributor for the overall decline in number
of launches in the NCR. In addition, the new projects in Gurgaon were located
primarily along Dwarka Expressway & in New Gurgaon.
Cushman
& Wakefield (C & W) reported that an estimated nearly 38,000
residential units were launched by organized developers in the first quarter of
2013 in major citiesregistering a marginal decline of about 2 % over the
previous quarter.
Of
all the cities, Bangalore recorded the highest number of launches in Q1 2013 at
about 11,622 units contributing close to 31 % of the overall new supply in the
top 8 cities followed by NCR & Mumbai.
Most
locations in Delhi witnessed stable capital values in both mid & high-end
segments. However, capital values in high-end segment in South Central Delhi
witnessed 15% appreciation over last year due to limited supply and high
demand.
Among
the suburban locations, Gurgaon noted higher appreciationdue to the high demand
from both end-users, the workforce working in the various companies located
here & investors, coupled with the limited project completions.
Gurgaon
(NCR) saw a change in the capital values in the luxury / or high end and mid
end residential segment at 29 % and 18 % respectively over last year.
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