Housing supply

New housing supply up 43% to 80,000 units in 6 cities in January-March: report

The supply of new homes rose 43% quarter over quarter in six cities from January to March to around 80,000 units, mainly due to a recovery in demand for residential properties, the company said. proptech Square Yards.

The state-of-the-art real estate consultant, Square Yards, sells homes on behalf of builders and offers home loans to consumers.

In its “India Residential Overview: Jan-Mar 2022” report, Square Yards covered Hyderabad, Bengaluru, MMR (Mumbai Metropolitan Region), Pune, Noida and Gurugram.

“The top six cities saw the new launch of nearly 80,000+ homes, noting a whopping 43% QoQ increase.

“2022 has started on a high note with sales and new launches witnessing improving numbers in major cities,” Square Yards said.

Deeply rooted in a strong sense of home ownership, the real estate sector during the first quarter of 2022 remained primarily end-user driven.

RMM continued to hold its first place in the number of new residential units launched. Hyderabad grew slightly, attracting interest from major builders in the market.

According to the data, ROR contributed 35% to the total number of new launches in the January-March quarter across six cities.

Hyderabad’s share of total launches stood at 25%, followed by Pune 17%, Bengaluru 16%, Gurugram 5% and Noida 2%.

“Even though home buying trends in the post-Covid era have been largely influenced by the need for space, health and wellness amenities, demand trends in the first quarter of 2022 have shifted. shifted slightly to smaller units,” the report said.

The first quarter of 2022 saw a 42% share of total online searches for 2BHK units, an increase of 3% from the fourth quarter of 2021.

The demand for 3BHK houses has dropped slightly.

However, the consultant said this change appears to be completely transitional.

(Only the title and image of this report may have been edited by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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