New housing launches up 27% in Q1 2018

The country (across top seven cities) has seen 27 per cent increase in new housing launches in Q1 2018 over previous quarter. Also, the unsold inventory has decreased by 2 per cent from 7.27 lakh units in Q4 2017 to 7.11 lakh units by Q1 2018.

According to ANAROCK Property Consultants’ latest research, 2018 has started on a positive note with residential unit launches making a comeback. This is due to the policy reforms and structural changes are now in place and real estate developers are intent on making up for the lost ground.

In Q1 2018, sales rose by 12 per cent compared to Q4 2017, indicating that serious homebuyers are back, attracted by the new environment of transparency, accountability and financial discipline.

“The series of policy reforms and structural changes have transformed the way Indian real estate business is conducted. This has been a definite blessing. The sector is by no means out of the woods yet, but we are now seeing some green shoots of recovery,” Anuj Puri, Chairman, ANAROCK Property Consultants, said. He added “The market has turned end-user friendly and 2018 is bringing new launches that match demand. The days of product mismatch are on their way out.”