Gst & Rera im­ple­men­ta­tion leads to 53% re­duce in home launches

Realty Plus - - News -

A re­port pub­lished by real es­tate por­tal Prop Tiger says that home launches across the top nine cities in In­dia fell 53% to 22,115 units in the July to Septem­ber pe­riod this year, against 47,032 units launched in the same pe­riod last year due to the im­ple­men­ta­tion of the goods and ser­vices tax and de­lay in im­ple­men­ta­tion of the real es­tate reg­u­la­tory Act. New home sales also went down by 18% in the Septem­ber quar­ter to 44,755 units, from 54,721 in the same pe­riod last year. Ac­cord­ing to the re­port, share of af­ford­able hous­ing again crossed 50% mark in the Septem­ber quar­ter this year. Homes priced in the bud­get be­low Rs 50 lakh con­trib­uted more than 50% in new launches as well as in sales. In­ven­tory over­hang in­creased to 42 months of un­sold stock due to slow sales. Sales of ready-to-move-in units has shown an­nual growth rate of 21% year on year, re­flect­ing the in­creased pref­er­ence of buyer for these units as they are out of am­bit of RERA and GST.

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