223, 325 home units launched in 2019, highest in Mumbai: Report

Our Bureau New Delhi | Updated on January 07, 2020 Published on January 07, 2020

With the launch of total 223, 325 units, the home launches in eight cities grew by 23 per cent in 2019. Out of which the 112, 150 units were launched in total second half of 2019, according to a report by Knight Frank India, a real estate consulting firm.

The report titled, 'India Real Estate: H2 2019', mentioned that Mumbai saw the highest number of homes launches in 2019 at 79,810 units, followed by Pune at 44,660 units, and Bengaluru at 33,772 units

In the National Capital Region (NCR), home launches witnessed a year on year growth of 45 per cent in 2019.

"Weighted average prices remain unmoved in 2019, signalling the price resistance in the market. Developers have also taken cognisance of the slow sales velocity and are keeping a lid on any upward increase in prices," said Mudassir Zaidi, Executive Director-North, Knight Frank India.

Ready-to-move-in properties were most sought after in the current market scenario, he added.

Around 61 per cent of launches in H2 2019 occurred in ticket sizes under ₹ 5 million (₹ 50 lakh) and 81 per cent under ₹ 10 million (₹ 1 crore) as developers focused on affordable housing and lower ticket sizes.

Office Leasing

The report further added that in 2019 office leasing touched a historic high 60.6 msf despite the ongoing slowdown in the economy, registering a 27 per cent year on year growth over 2018.

Bengaluru, which has dominated this decade in terms of transaction volumes, saw the highest volume of office space leased again in 2019 at 15.3 msf, followed by Hyderabad at 12.8 msf, nearly twice its previous annual high.

The IT sector accounted for 41 per cent of the total office space leased in H2 2019, against 31 per cent in H2 2018, while the share of Banking, Financial Services and Insurance (BFSI) reduced to 16 per cent in H2 2019, from 18 per cent in H2 2018 due to NBFC crisis.

Published on January 07, 2020
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