5 Cities That Saw The Highest New Launches In Q2
In the past couple of years when bad times hit India’s real estate sector and developers failed to sell their already finished projects, the number of new unit launches witnessed a steep decline. However, as all stakeholders of the sector — developers as well as government agencies — upped their efforts to revive the sector, things saw an improvement in the second quarter (July-September quarter or Q2) of the financial year 2016-17 (FY17).
PropGuide takes a look at five Indian cities that saw the highest new launches in Q2:
India’s commercial capital did come back with a bang in the July - September quarter. The city, which also contributed the most to sales figures in this quarter, had been finding it hard to find many takers owing to the high expensive property prices here. The new launches saw a growth when compared to the previous year (FY16 Q2), it still topped the list of new launches for Q2. The number of units launches in the previous year stood at around 5,976.
Kolkata came a close second to Maharashtra in terms of new launches in Q2 of FY17. The city also witnessed a nearly 4 fold jump in new launches as compared to the same period last year.
Maharashtra’s cultural capital has been projected as the only saving grace when crisis hit the sector. Turning true to its image, Pune came close third in terms of unit launches in Q2. Pune saw a decline in new launches when compared to last year same quarter.
Ahmedabad witnessed a major uptick in new launches over Q2 of the previous year, from nearly 1,200 units in Q2 FY16 to 6,700 units in Q2 this year.
Property prices in Bengaluru have witnessed a sharp rise in the past years leading to a slow growth in sales. While the city stood fifth in terms of new launches in the city, the number saw a sharp decline when compared with the last year. The number of new launches in India’s IT capital stood at nearly 9,600 in FY16 Q2.
Tags: City, new launches, Mumbai, Bangalore, Hyderabad, Ahmedabad, Pune, Real Estate, developers, Bengaluru, inventory, PropTiger Datalabs, propguide, FY16, realtyInsightsDatalabs, FY17, Q1, 3_2016_PT_Reports