As per a recent report by PropEquity, south surprises while north declined in new launches.
In Hyderabad, there were approx. 4,700 units launched in Q3 which was approximately 1.3 times the launches in the previous quarter. The supply also increased by 22% on Y-o-Y basis. Similarly Bengaluru witnessed new launches of approximately 9,500 units in this quarter which increased by 41% and 1% on Q-o-Q and Y-o-Y basis. Chennai also witnessed an increase of 10% and 8% in new launches on quarterly and yearly basis respectively.
Kolkata has also witnessed a reviving trend in terms of new launches with a significant increase of approximately 62% as compared to the last quarter.
However, Pune, MMR, and NCR reflected an immense dip in supply in the third quarter. Gurugram witnessed almost negligible new launches of 80 units in one project and there were no new launches in Noida. Similarly, a drop of 58% in supply was also witnessed in Mumbai and Thane on Q-o-Q basis. Pune also witnessed a considerable drop of 46% in the new launches when compared to the last quarter.
While New launches demonstrated a mixed trend throughout the country, the sales declined in almost all the cities in the third quarter.