Home launches pan-India up 3 per cent in Q1
Real Estate

Home launches pan-India up 3 per cent in Q1

In a report released by PropEquity, among India’s leading real estate data, research and analytics firm, it said that new launches of housing units increased by 3 per cent across top 9 cities in India in the first quarter of 2019 to 42,504 units versus 41,101 units in Q4 2018.
 
This small but critical rise in new launches indicate that developers across India are now beginning to launch new projects as well as clearing earlier launched projects.
 
In Q1, unsold Stock also dipped by 4 per cent vs Q4 and 10 per cent YoY owing to improving end-user demand.
 
On sequential quarter basis, sales (absorption) fell by 6 per cent but was up by 5 per cent YoY. Yearly jump indicates that the sales may continue to improve for rest of the year.
 
Indian real Estate market is currently an end user driven market as ready to move in or nearing completion properties are being preferred as they have minimum or no risk attached to them.
 
“It has been a wonderful beginning for Indian realty as finally new home launches have gathered pace. Also, with beneficial announcements for the real estate in the budget, we can witness further push to housing demand, especially in the affordable and mid-income segment. Branded and large developers with good fundamentals are expected to do well this year,” said Samir Jasuja, Founder and Managing Director, PropEquity.
 
Nine cities were included for the study including Gurugram, Noida, Mumbai, Kolkata, Pune, Hyderabad, Bengaluru, Thane and Chennai.

Cities:
 
Gurugram
 
Gurgaon saw a decline of 58 per cent jump on new launches in Q1 as new launches were held back for the quarter. Absorption saw an increase of 11 per cent to 2918 units in QoQ period as ready inventory was first to go off the shelf.
 
Noida
 
Noida saw 73 per cent hike in new launches as new projects were launched in the mid segment to take advantage of the improving market sentiment. 
 
Mumbai
 
New launches witnessed a fall of 1 per cent in QoQwith absorption also falling by10 per cent.
 
Kolkata
Kolkata saw a fall of 36 per cent in new launches in Q1 with sales also crashing by 20 per cent in QoQ as this market witnessed declining housing demand.

Hyderabad
This region saw the maximum jump in new launches with 100 per cent hike in at 3,026 units launched. Overall absorption fell by 19 per cent in Q1as supply was more than the demand in the quarter.

Bengaluru
India’s IT capital saw a marginal fall of 1 per cent in new launches in the quarter. The city with high-unsold stock of 94,979 units saw a decline of 4 per cent in unsold stock.

Pune
Pune saw a jump of 4 per cent in new launches at 9,287 units in Q1. Absorption also went up by 3 per cent at 14,996 units indicating a healthy housing market.

Chennai
Chennai also saw a jump of 11 per cent in sales in Q1 at 2,862 units.

Thane
Thane witnessed a massive jump of 40 per cent in new launches in the quarter at 9,427 units, but absorption fell by 14 per cent in Q1. Unsold stock fell by 3 per cent to 133,751 units in the quarter.

In a report released by PropEquity, among India’s leading real estate data, research and analytics firm, it said that new launches of housing units increased by 3 per cent across top 9 cities in India in the first quarter of 2019 to 42,504 units versus 41,101 units in Q4 2018. This small but critical rise in new launches indicate that developers across India are now beginning to launch new projects as well as clearing earlier launched projects. In Q1, unsold Stock also dipped by 4 per cent vs Q4 and 10 per cent YoY owing to improving end-user demand. On sequential quarter basis, sales (absorption) fell by 6 per cent but was up by 5 per cent YoY. Yearly jump indicates that the sales may continue to improve for rest of the year. Indian real Estate market is currently an end user driven market as ready to move in or nearing completion properties are being preferred as they have minimum or no risk attached to them. “It has been a wonderful beginning for Indian realty as finally new home launches have gathered pace. Also, with beneficial announcements for the real estate in the budget, we can witness further push to housing demand, especially in the affordable and mid-income segment. Branded and large developers with good fundamentals are expected to do well this year,” said Samir Jasuja, Founder and Managing Director, PropEquity. Nine cities were included for the study including Gurugram, Noida, Mumbai, Kolkata, Pune, Hyderabad, Bengaluru, Thane and Chennai.Cities: Gurugram Gurgaon saw a decline of 58 per cent jump on new launches in Q1 as new launches were held back for the quarter. Absorption saw an increase of 11 per cent to 2918 units in QoQ period as ready inventory was first to go off the shelf. Noida Noida saw 73 per cent hike in new launches as new projects were launched in the mid segment to take advantage of the improving market sentiment.  Mumbai New launches witnessed a fall of 1 per cent in QoQwith absorption also falling by10 per cent. KolkataKolkata saw a fall of 36 per cent in new launches in Q1 with sales also crashing by 20 per cent in QoQ as this market witnessed declining housing demand.HyderabadThis region saw the maximum jump in new launches with 100 per cent hike in at 3,026 units launched. Overall absorption fell by 19 per cent in Q1as supply was more than the demand in the quarter.BengaluruIndia’s IT capital saw a marginal fall of 1 per cent in new launches in the quarter. The city with high-unsold stock of 94,979 units saw a decline of 4 per cent in unsold stock.PunePune saw a jump of 4 per cent in new launches at 9,287 units in Q1. Absorption also went up by 3 per cent at 14,996 units indicating a healthy housing market.ChennaiChennai also saw a jump of 11 per cent in sales in Q1 at 2,862 units.ThaneThane witnessed a massive jump of 40 per cent in new launches in the quarter at 9,427 units, but absorption fell by 14 per cent in Q1. Unsold stock fell by 3 per cent to 133,751 units in the quarter.

Next Story
Infrastructure Urban

Choice Consultancy Wins Rs 634.7 Million Public Sector Projects

Choice Consultancy Services Pvt Ltd, the public sector advisory arm of Choice International Ltd, has secured two major project developments totalling approximately Rs 634.7 million (inclusive of GST), further solidifying its role in public sector transformation and infrastructure planning across India.The company has received a work order worth Rs 528 million from the Maharashtra Institution for Transformation (MITRA), under the Government of Maharashtra. This assignment, part of the World Bank-backed MahaSTRIDE Programme, involves setting up District Strategic Units (DSUs) across the Chhatrap..

Next Story
Infrastructure Urban

Shalibhadra Finance FY25 Profit Jumps 34% Year-on-Year

Shalibhadra Finance Limited, a leading two-wheeler financing company with a deep presence in Gujarat, Maharashtra, and Madhya Pradesh, has reported a 34 per cent year-on-year rise in net profit for FY25, reaching Rs 160 million. The company’s performance was supported by disciplined lending, cost efficiency, and robust asset quality.Financial Highlights – FY25:Net Profit: Rose 34 per cent year-on-year to Rs 160 million. Q4 FY25 profit also increased by 34 per cent to Rs 44 million.Net Interest Income (NII): Up 13 per cent YoY to Rs 295.8 million for the full year and 16 per cent to Rs 84.3..

Next Story
Infrastructure Transport

Court Orders Uttarakhand PWD to Pay Rs 172 Million to MBL

The Commercial Court in Dehradun, Uttarakhand, has directed the Public Works Department (PWD), Government of Uttarakhand, to pay Rs 172.4 million to MBL Infrastructure Ltd. in accordance with an arbitration award dated 23 March 2024. The case pertains to a completed road project under Package No. 5 for the improvement and strengthening of state roads in Nainital and Udham Singh Nagar districts.The arbitration tribunal had issued a unanimous award in favour of MBL Infrastructure Ltd., granting a payment of Rs 172.4 million, which includes interest accrued up to the date of the award. Additional..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?