Mumbai tops in new property launches in Q3, Delhi saw the highest decline: Anarock
- MMR accounted for 39% share in the new launches, whereas
Delhihad only 7% share.
- New launches of MMR rose by 21% against the second quarter of 2022.
- In Delhi, new launches saw a 9% year-on-year decline.
New launches in MMR rose by 21% against the second quarter and 118% as compared to the same quarter last year. Amongst the three sub-markets of MMR, Mumbai, contributed nearly 79% to the new supply, followed by 15% in Thane and the rest in Navi Mumbai.
Approximately 6,400 new residential units were launched between July and September 2022, according to the report.
Within Delhi NCR, Gurgaon had the highest supply share of 61% in Q3 but saw a decline of 9% against Q2. Greater Noida, at the second spot, saw a 19% q-o-q rise and also witnessed an increase in the new launch activity, contributing 28% to the NCR’s overall new supply.
Noida and Faridabad are the two NCR markets which saw no new launch activity in the current quarter, the report said.
Delhi has more affordable supply
“In contrast to the preceding quarter, mid-end segment in NCR has surpassed the number of affordable housing launches to become the top launched price bracket among developers in the current quarter, accounting for 35% of new supply,” the report added.
In MMR, most of the new supply was launched in the affordable, mid end and high end segments — accounting to 22%, 29% and 21% respectively, to new launches in the current quarter.
Delhi also saw the highest drop in the inventory, whereas, MMR’s available inventory remained stable on a year-on-year basis, according to the report.
NCR had 1.32 lakh unsold units by the end of Q3, while Mumbai had around 1.91 lakh units.
AdvertisementMMR also recorded the highest sales of home properties among the top seven cities, with over 26,400 residential sales recorded between July and September this year. On the other hand, NCR recorded a decline in quarter-to-quarter housing sales by 2%, with only 15,000 properties sold in Q3 of 2022.
95% Indian companies experiencing new types of fraud after Covid
Paytm sees no impact from lock-in expiry, trends show heavy buying
Popular on BI
- I bought a car wash at 22 years old. It basically runs itself — and I make $5,500 in passive income each month.
- Companies say Elon Musk's plan to charge $1,000 for month for Twitter checkmarks is 'outlandish' and makes them 'meaningless'
- A lawyer who quit to become an OnlyFans performer says she now makes more money and is happier
- NSE, BSE put Adani Green Energy under second stage of longterm ASM framework from Mar 28
- Two multibagger stocks under Nifty500 doubled investors money in last six months
- Disney's first job cut round begins this week, 7,000 employees to be hit: CEO
- Sensex, Nifty50 likely to open in the green amid positive global cues: HDFC, Tata Motors among stocks to watch
- A fifth of Indians feel sleepy at work, future worries keep ‘em awake