Real estate launches in India lower than 2019 | Real estate news
India’s real estate unit launch remains below 2019 standards, with Tier I cities lagging behind in the market, according to a survey. The only three main markets that saw growth in real estate unit launches from 2019 levels were NCR, Mumbai and Hyderabad.
According to a report from Emkay, launches across the country remained at the same level as in 2020, but are 22% lower than in 2019. Emkay is a renowned investment and investment firm in the field of institutional equities, portfolio management, wealth management, investment banking and commodities. .
Pune recorded the highest number of Pan-Indian launches (17%), followed by Hyderabad, Bangalore and the National Capital Region (RCN). Kolkata and Chennai accounted for less than 5% of the total Indian market.
While real estate launches have yet to regain their pre-COVID levels, the share of listed developers has climbed to around 10% in India. âThe share of listed developers rose to 34%, 34% and 9% in Bangalore, Noida and Mumbai, respectively,â according to the study.
In terms of unit configuration, 2BHK apartments have remained popular in India. Over 40% of the market was dominated by two-bedroom homes. At the same time, the market share of three bedroom apartments is increasing in India. According to the research, “two important variables driving this trend are 1) hybrid office / WFH culture and 2) high accessibility measured in terms of IME / household income.
In 2019, the Indian real estate market was valued at $ 1.72 billion, but by 2040 it is expected to reach $ 9.30 billion. The real estate sector is a major source of income and growth for India, and it is the country’s second largest employer after agriculture.
Gaurvah and Gautam Malhotra – say the young descendants of Oasis Group, the real estate scenario has recovered after the pandemic and the number of launches has also increased. This puts a positive outlook on the real estate segment.
They say the trend is expected to continue over the coming year, with current industry volumes approaching pre-Covid levels.