In the latest report from
international property consultants Cushman & Wakefield (C & W), The
high end category residential units have seen a tremendous rise of over 50 % in
2013 even while the largest quantum of launches in residential units was in the
mid end category, there was decline of 13 % in the total launches of
residential units in the mid end category over previous year. There was a sharp
drop in the launches of luxury units which declined to only 1100 units with
largest number of units being launched in Bengaluru.
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| Sanjay Dutt, Executive Managing Director, South Asia, Cushman & Wakefield |
Mr. Sanjay Dutt, Executive Managing
Director, South Asia, Cushman & Wakefield, says, “Developers / promoters are cautious about the configuration and
designing of their properties today and revisiting their drawing boards to
create units which would be appreciated by end users. Alternately, lower demand
for luxury residential has reduced the number of launches in this category also
limiting them to cities of Delhi (NCR), Mumbai and Bengaluru which still have
some demand for such units. One category which has not seen the same enthusiasm
despite government backing of ECB and other benefits has been the affordable
housing sector which can be attributed to the issues of acquiring land at
preferential rate and the subsequent building cost which has been restricting.”
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