Real Estate

NCR, Hyderabad, Mumbai lead in new real estate launches for CY’2021

Abishek Law | | Updated on: Dec 17, 2021
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However, other key markets like Kolkata, Navi Mumbai, Bengaluru, Chennai and Thane reported a decline

The National Capital Region (NCR), Mumbai and Hyderabad are among the key standout markets in the real estate sector that saw a 15 – 20 per cent increase in launches (annualized) over 2019 (pre-Covid years).

On the other hand, some of the other key markets like Kolkata, Navi Mumbai, Bengaluru, Chennai and Thane reported a decline of 74 per cent, 42 per cent, 31 per cent, 24 per cent and 24 per cent, respectively in new launches, according to the Real Estate Launch Tracker of Emkay Global Financial Services.

The report mentioned that the share of listed developers (whose shares are traded on the bourses) are inching higher to 10 per cent on a pan-India basis in the current calendar year (2021),up 200 bps YoY.

The Hyderabad, Noida and Mumbai markets witnessed notable increase. On the other hand, Gurugram witnessed a decline in overall share of listed players declining to 16 per cent.

“However, we see scope for material improvement in Gurugram, with DLF likely to be the key beneficiary given its sizable land holdings,” the report mentioned.

While the 2BHK configuration remains in dominance, there is an increasing demand for 3BHK apartments. On a pan-India basis share of 3BHK increased to 35 per cent (YTD FY22).

Factors like work from home, demand for hybrid office culture and high affordability measured in terms of EMI/Household income have contributed to the trend.

Among the major launch activities, Gurugram and Noida led the pack. DLF’s independent floor products clocking cumulative sales to launch ratio of nearly 90 per cent. This is followed by Godrej selling out 85 per cent of the launched inventory in Noida Godrej Woods (Sector 43).

Published on December 17, 2021

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