Residential real estate: New supply of homes is likely to increase by 44 pieces to 34 lakh units in 2022. | Tech Rasta


Anarock forecasts new housing supply will increase 44 percent this year in seven cities to 34 lakh units as developers see demand to increase. Real estate consultancy Anarock data shows that 265 lakh new launches are expected in the January-September period this year in seven key markets of Delhi-NCR, Mumbai Metropolitan Region (MMR), Bengaluru. Pune, Chennai, Hyderabad and Kolkata

Current trends indicate that launches in these cities will exceed 34 lakh units in the entire calendar 2022 year, the consultant added.

“All new launches in 2022 will continue to be lower than the previous peak of 2014, which saw approximately 545 million homes opened in the top seven cities,” Anarock said.

According to data, new home launches were 4,64,060 units in 2013, 5,45,230 units in 2014, 3,89,970 units in 2015, 2,49,840 units in 2016, 1,46,860 units in 2017, 1, 95,300 units in 2018, 2,36,560 units in 2019, 1,27,960 units in 2020 and 2,36,690 units in 2021.

New launches dropped to nearly 1.28 lakh units during calendar year 2020 as housing demand was severely hit by the COVID-19 pandemic. and nationwide lockdowns to control the spread of the disease.

However, fresh supply increased during 2021 and this year with strong demand recovering.

Pradeep Aggarwal, Founder and Chairman of Signature Global, commented on the new launch. It said the real estate sector was growing exponentially after two consecutive years of lackluster demand amid the pandemic.

“Economic activity is in full swing and with pent-up demand. We saw a significant increase in transactions across the segment. The unsold inventory is greatly reduced. and hence So we have seen new projects. Many are being launched. With demand in mind, we expect the trend to continue,” he said.

On demand, Anarock said home sales are likely to hit a record 360,000 units this year in seven cities on strong demand across all price categories. Despite the increase in mortgage interest rates and real estate rates.

The previous record high was recorded in 2014 when home sales were 3,42,980 units in the main market. (Fresh sales only) in seven major cities

According to Anarock, residential sales hit 2,72,710 units during the January-September period of the current calendar year. and violated the number of 2019 before COVID-19 at 2,61,360 units

Home sales were 3,18,400 units in 2013; 3,42,980 units in 2014; 3,08,250 in 2015; 2,39,260 units in 2016; 2,11,140 units in 2017; 2,48,310 units in 2017. 2018; 2,61,360 units in 2019, 1,38,340 units in 2020; and 2,36,520 units in 2021.

in the last 18 months All major property developers have reported high growth in sales bookings.



Source link