Kolkata has secured pole position in the residential real estate sector in terms of launching of new houses among the major seven cities of the country in the third quarter of 2018. The metro has reportedly launched nearly 4,050 units. As a result, it has witnessed a rise of more than 500 per cent from the corresponding quarter of the previous financial year, and a jump of 59 per cent from Q2 2018.
As reported, a total of 52,150 new units have been launched in Q3 2018 across the top seven cities of National Capital Region (NCR) Kolkata, Pune, Hyderabad, Chennai, Mumbai Metropolitian Region (MMR) and Bengaluru. This data shows that an increase of three per cent has been registered over the Q2 2018 figure of 50,600 units.
According to reports, however, there is an increase of 51 per cent in new housing compared to Q3 2017. Buying has also reportedly seen a rise by 15 per cent this quarter against the corresponding quarter of 2017.
MMR has reportedly launched nearly 19,850 units, a jump of 42 per cent from Q2 2018. Whereas NCR’s contribution to the supply of new housing was only 8 per, amounting to 4,200 units. This was a downward journey of 50 per cent of units from the previous quarter.
As reported, purchases have seen a slight increase of 9 per cent during during the third quarter as against Q2 2018 in the top seven cities. This reportedly suggests a positive sentiment among home buyers.
Low-budget housing projects reportedly continue to perform better. There is an increase in supply by 65 per cent (below Rs 4 million) in Q3 2018 compared to the corresponding period of the previous fiscal.