+
Housing launches increased by 86% Y-o-Y at a record high
Real Estate

Housing launches increased by 86% Y-o-Y at a record high

The top eight residential markets in India experienced a 22% increase in sales and an 86% increase in supply between January and March of this year, according to a study by PropTiger.

Despite further increases in home loan interest rates, housing sales climbed. Real estate developers aggressively introduced new products to the market to meet the soaring demand.

Both sales and new launches are increasing, which indicates that the Indian housing market is expanding significantly. This is especially significant in light of the difficult global economy and the rising cost of mortgages on the domestic market.

Despite these challenges, the research notes that housing sales increased by a high double-digit 22% during the first quarter of 2023, suggesting persistent sales momentum.

From January to March 2023, sales increased from 70,630 units in the same period last year to 85,850 units across eight cities. Over these eight major cities, new launches increased from 79,530 units to 147,780 units, the biggest number in a quarter.

In the top 8 cities, both supply and demand have seen double-digit growth. While new supply is at an all-time high, sales have expanded at a much slower rate, primarily because homebuyers are taking their time to find the appropriate product.

Also read:
Maharashtra government to buy Air India's building for Rs 1,600 crore
CAG's higher land premium proposal ignored by Ahmedabad civic body


The top eight residential markets in India experienced a 22% increase in sales and an 86% increase in supply between January and March of this year, according to a study by PropTiger. Despite further increases in home loan interest rates, housing sales climbed. Real estate developers aggressively introduced new products to the market to meet the soaring demand. Both sales and new launches are increasing, which indicates that the Indian housing market is expanding significantly. This is especially significant in light of the difficult global economy and the rising cost of mortgages on the domestic market. Despite these challenges, the research notes that housing sales increased by a high double-digit 22% during the first quarter of 2023, suggesting persistent sales momentum. From January to March 2023, sales increased from 70,630 units in the same period last year to 85,850 units across eight cities. Over these eight major cities, new launches increased from 79,530 units to 147,780 units, the biggest number in a quarter. In the top 8 cities, both supply and demand have seen double-digit growth. While new supply is at an all-time high, sales have expanded at a much slower rate, primarily because homebuyers are taking their time to find the appropriate product. Also read: Maharashtra government to buy Air India's building for Rs 1,600 crore CAG's higher land premium proposal ignored by Ahmedabad civic body

Next Story
Infrastructure Urban

Naidu Seeks Rs 563 Crore For AP Sports Infrastructure

Andhra Pradesh Chief Minister N Chandrababu Naidu has sought Rs 563 crore from the Centre to boost sports infrastructure in the state, including Rs 538 crore for stadium development and Rs 25 crore to host the Khelo India Martial Arts Games 2025. Naidu made the request during a meeting with Union Youth Services and Sports Minister Mansukh Mandaviya in New Delhi on Wednesday.The CM urged early completion of Khelo India infrastructure projects in Tirupati, Rajahmundry, Kakinada, and Narasaraopeta, and called for an international-standard badminton training centre and a national aquatic sports hu..

Next Story
Infrastructure Transport

Tough Bidding Norms Slow NHAI Road Project Awards

Stringent bidding rules imposed by the Ministry of Road Transport & Highways (MoRTH) have led to a slowdown in project awards by the National Highways Authority of India (NHAI), despite a robust Rs 3.5 trillion pipeline. According to an HDFC Securities report, the shift to more cautious developer models now favours firms with strong balance sheets, as tighter qualification norms limit aggressive bidders.The revised norms mandate additional performance security, targeting the exclusion of players that previously submitted low bids—often 25 to 40 per cent below NHAI cost estimates—raisin..

Next Story
Infrastructure Transport

Mumbai Gets Coastal Nod for Next Promenade Phase

As Mumbai prepares to open two major sections of its expansive seafront promenade this week, the city’s civic authority has secured a key coastal clearance to advance further construction. The Maharashtra Coastal Zone Management Authority (MCZMA) has approved the commencement of work on the segment between Haji Ali and Baroda Palace, with tendering expected soon after project cost assessments.The promenade, stretching 7.5 km in length and 20 metres wide, is being designed as a flagship open space for walkers, joggers, and cyclists. Two critical stretches—2.75 km from Tata Garden to Haji Al..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?