Bangalore Records Highest Number of Residential Launches
Published on May 28, 2013, 06:20 AM IST
Bangalore saw the highest number of launches in the first quarter at 11,622 units contributing close to 31% of the overall new supply in the top eight cities followed by NCR that saw 7,603 units being launched and Mumbai with 7,226 units, according to a new report by global real estate consultancy, Cushman & Wakefield.
The NCR market saw a 40% decline in new launches over the last quarter. While Gurgaon accounted for 66% of the new launches, Noida saw only 34% launches — a decline of close to 70% due to subdued demand. This was also the main reason for the overall decline in the number of launches in Delhi NCR. Close to 80% units launched were in the mid-range segment, the report said.
Both Bangalore and Pune witnessed the highest number of unit launches (almost double) in the first quarter at 144% and 109% respectively. Hyderabad witnessed close to a 90% decline.
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