Hous­ing sup­ply to go up by 20% to 25%: Re­port

Hindustan Times (Chandigarh) - Estates - - ESTATES - ■ HT Es­tates Cor­re­spon­dent ht­es­tates@hin­dus­tan­times.com

The last quar­ter of this year is ex­pected to wit­ness at least a 20% to 25% jump in the res­i­den­tial new sup­ply across cities. How­ever, cap­i­tal and rental val­ues are ex­pected to re­main more or less sta­ble, says a re­port.

High un­sold in­ven­tory will re­main a ma­jor prob­lem, stag­nat­ing the growth of the res­i­den­tial mar­ket in top cities, says a re­port by Quikr-Homes.

As per the mar­ket seg­men­ta­tion, af­ford­able and mid-seg­ments are likely to lead the show in the com­ing quar­ter as well, it says.

MMR wit­nessed max­i­mum launches and ac­counted for nearly 23% of the to­tal units in the third quar­ter, fol­lowed by Na­tional Cap­i­tal Re­gion (NCR), Pune and Ben­galuru with about 22, 19 and 16% re­spec­tively.

Kolkata and NCR wit­nessed a whop­ping 157% and 81% in­crease, re­spec­tively in the new launch sup­ply as against the sec­ond quar­ter in 2016, says the re­port.

As per the re­search, af­ford­able prop­er­ties clearly dom­i­nated the prop­erty spec­trum across cities. Nearly 59% projects were launched un­der af­ford­able seg­ment, fol­lowed by mid, lux­ury and ul­tra-lux­ury.

Un­sold units in top cities touched all-time high at 7.5 lakh units. The data also sug­gests that most of the sales are hap­pen­ing in ei­ther ready-to­move-in projects or projects that are near­ing com­ple­tion.

The rental sce­nario in Ben­galuru, Hy­der­abad and Chen­nai have recorded an up­ward move­ment in their re­spec­tive re­gions of growth.

Ad­di­tion­ally, there has been a huge re­struc­tur­ing in the res­i­den­tial mar­kets Kolkata and Pune due to in­creased IT and ITeS ac­tiv­ity. The trend of ad­just­ing the res­i­den­tial rental de­mand along the satel­lite town­ships (Navi Mum­bai and Thane re gions in Mum­bai and Gur­gaon and Noida along with Ghazi­abad in Delhi-NCR) have also been noted in NCR (Delhi) and MMR (Mum­bai), says the re­port.

SU­NIL GHOSH

Un­sold units in top cities touch all-time high at 7.5 lakh.

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