Mumbai, March 5 (IANS). People who buy homes in India are rapidly choosing Newly-Launch Housing Projects compared to ready-to-move-in houses. According to a latest report on Wednesday, more than 42 percent of the 42 percent of the houses sold in 2024 were launched.
This trend has increased significantly from 2019, when only 26 percent of the 2.61 lakh houses sold were launched.
According to the latest data of Enerock, this trend is particularly strong in major cities, where large and listed developers dominate the market.
This change has been continuously continuously for the last five years. In 2020, 28 percent of the 1.38 lakh houses sold in top seven cities were launched.
In 2021, this percentage increased to 34 percent, with about 2.37 lakh houses sold.
By 2022, 36 percent of the 3.65 lakh houses sold were launched and in 2023, the figure increased to 40 percent out of 4.77 lakh units.
According to the city, the newly launched houses vary. Fresh supply in Kolkata was the lowest part of Absorption, only 31 percent of the 18,330 units sold in 2024 were launched.
However, it was still an improvement compared to 2019, when only 23 percent of the 13,930 units sold that year were launched.
In NCR, about 44 percent of the 61,902 units sold in 2024 were launched, which is a big leap in only 22 percent in 2019.
Chennai saw a huge increase, where 53 percent of the 19,221 units sold in 2024 were launched, which was 28 percent in 2019.
Bangalore and Pune also saw a strong growth in the newly launched unit.
In Bengaluru, 53 percent of the 65,226 units sold in 2024 were launched, while in 2019 it was 27 percent.
Similarly, in Pune, out of 81,088 units sold in 2024, 42 percent were part of the new projects, while in 2019 it was 34 percent.
Hyderabad also recorded a spectacular growth, where 43 percent of the 58,540 units sold in 2024 were launched new, compared to 28 percent in 2019.
-IANS
SKT/ABM
