January 22 2020, New Delhi: In a report released by PropEquity, India’s leading
real estate data, research and analytics firm, sales or absorption of housing
units increased by 12% across top 9 cities in India in the fourth quarter of
2019 to 60,453 units versus 53,909 units in Q3 2019.
New supply of housing units also jumped
37% in the same period to 44,459 units from earlier 32,565 units. The last
calendar quarter of 2019 was relatively better as demand led to some recovery
in the housing sector in India.
Residential real estate in India continues
to be an end user driven market as ready to move-in or nearing completion
properties are being preferred.Developers with excellent track record in terms
of quality and execution continued to witness solid sales numbers across
projects.
Pune, Bengaluru and Thane were top
cities on the basis of supply and absorption in Q4 2019. Also, the unsold stock
decreased by 3% as compared to the previous quarter as housing sales improved.
“Housing market has definitely
improved and we are witnessing green shoots of recovery as evident from the
latest Q4 report. However, it will take mid to long term timefor the sector to
come out from its lows.Q4 is seasonally a better quarter for the housing market
due to various schemes and new launches offered by developers because of
festive period. We continue to expect market to recover in 2020 and also expect
govt. to announce positive budgetary measures in the forthcoming budget,”Mr. Samir Jasuja,
founder and managing director at PropEquity said.
Cities
Gurgaon
Gurgaon saw a massive increase of 339% in new launches in Q4 at 1217
units. Sales Increase by 78% in the sequential quarter at 2,175 units.
Noida
Noida saw 372 % increase in new launches in Q4 and sales increasedby 55%
to 1,615 units.
Mumbai
New launches witnessed an increase of 136% in Q4 at 3,501 unitswith
absorption increased by 28% to 5,996 units.
Kolkata
Kolkata saw an increase of 66% in new launches in Q4 at 5,026 units with
sales increasing by 52% to 4,743 units.
Hyderabad
Hyderabad saw a decline of 12% in new launches in the quarter at 3,332
units, sales also fell by 4% to 4,643 units.
Bengaluru
India’s IT capital saw anincreaseof 4%in new launches in the quarter at
9,073 units. Housing sales alsoincreased 4% to 10,263 units.
Pune
Pune witnessed an increase of 55% in new launches at 12,468 units in Q4,
absorption also increased4% to 15,453 units.
Chennai
Chennai saw a decline
of 2% in new launches in Q4 at 2,946 unitsbut sales increased by 9% to 3,632
units.
Thane
Thane witnessed an
increase of 42% in new launches in the quarter at 5,608 units, absorption increasedby
9% in Q4 at 11,933 units.
About PropEquity:
P.E.
Analytics owns and operates PropEquity which is India’s largest online real
estate data
and analytics platform platform covering over
1,18,010 projects of 34,217 developers across over 44 cities in India. We add
approximately 300 projects every month. It is a premier Business Intelligence
product- a first of its kind in India in the Realty space.
For media enquiries,
please contact:
Kanishk Srivastava
+91-7651810590
