Home sales pan-India surge 12%, new launches up by 37% in Q4: PropEquity Study

Home sales pan-India surge 12%, new launches up by 37% in Q4: PropEquity Study

On 22 Jan , 2020 04:45 AM

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

kanishk@printel.in

Author Bio PRintel News