New Flats Launches in 2014
dip 12% at 1.53 lakh units..
Real estate developers
launched about 1.53 lakh new housing flats during the last calendar year
(2014), a fall of 12% from 2013, in India's top 8 cities.
According to property
consultant Cushman & Wakefield, cities like Ahmedabad, Bengaluru, Chennai,
Delhi-NCR, Hyderabad, Kolkata, Mumbai and Pune had together witnessed a launch
of about 1,74,400 housing units during
2013.
* In Delhi-NCR, the launch
of new homes dropped by 30% to 38,400 units in 2014 from 26,800 units in the
previous year, C&W said in a statement.
* Mumbai saw a decline of
19% in launches at 25,000 units, while Bengaluru witnessed a fall of 17% at
40,900 flats.
* Bengaluru, Delhi-NCR and
Mumbai accounted for 60% of the total new launches in 2014.
* The number of new unit
launches dropped substantially by 46% in Hyderabad as developers reconcile to
the changing market dynamics post the bifurcation of the state, the consultant
said.
C&W Executive Managing
Director South Asia Mr. Sanjay Dutt said: "Despite the upliftment of
economic sentiments post the election, the end user uptake of residential units
has been restricted leaving a reasonable unsold inventory that developers would
like to off-load."
* Mid-segment residential
units continued to remain favourite amongst developers with a two-third share
in total launches. Unit launches in this segment increased by 5% from the
previous year.
"Unit launches in the
high-end segment dipped by 29% in a year; whilst in the affordable segment they
declined by 38% from the previous year. Although luxury units contributed only
1% to total unit launches, they increased by 5 times from the previous
year," the statement said.
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