QuikrHomes India’s leading digital real estate business today has released its 3rd quarterly report on Indian residential market for the year 2016.The report captures comprehensive real estate data across top 7 cities in the country – Bangalore, Chennai, Delhi-NCR, Hyderabad, Kolkata, Mumbai metropolitan region and Pune.
Below are some key pointers from the report for your reference.
• In the third quarter of 2016, the top 7 cities in India witnessed a launch of about 37,512 new residential units, recording an increase of about 14 per cent as against the preceding quarter.
• All the tracked cities witnessed a rise in new launch supply with an exception of Mumbai Metropolitan Region (MMR) and Hyderabad.
• MMR witnessed maximum launches and accounted for nearly 23 percent of the total units in the third quarter, followed by National Capital Region (NCR), Pune and Bangalore with about 22, 19 and 16 percent respectively.
• Kolkata and NCR witnessed a whopping 157 and 81 percent increase respectively in the new launch supply as against Q2 2016
• As per the research, affordable properties clearly dominated the property spectrum across cities. Nearly 59 per cent projects were launched under affordable segment, followed by mid, luxury and ultra-luxury.
• Unsold units in top cities touched all-time high at 7.5 lakh units.
• The data also suggests that most of the sales are happening in either ready-to-move-in projects or projects that are nearing completion.
• The rental scenario in Bangalore, Hyderabad and Chennai have recorded an upward movement in their respective regions of growth.
• Additionally, there has been a huge restructuring in the residential markets Kolkata and Pune due to increased IT/ITeS activity. The trend of adjusting the residential rental demand along the satellite townships (Navi Mumbai and Thane regions in Mumbai and Gurgaon and Noida along with Ghaziabad in Delhi-NCR) have also been noted in NCR and MMR.