Ahmedabad witnesses 8% dip in new launches during 1st quarter of 2014

By Accommodation Times News Services

home-prices-down-bangaloreAccording to the latest report by real estate consulting firm Cushman & Wakefield, while the number of residential units being launched has gone down, the number of projects has gone up.

In Q1 2014, nearly 2,300 units were launched in Ahmedabad, registering a q-o-q decline of 8%. As per the report, although the unit launches declined, number of project launches more than doubled; indicating absence of any significantly large new project (which was noted in a peripheral location during the previous quarter).

With demand remaining stable in Ahmedabad, capital values were unchanged in Q1 2014 from the previous quarter. Moreover, a number of developers delayed new launches and focussed on clearing existing unsold inventory. Considering demand is higher for affordable units having ticket sizes of Rs 20-40 lakhs, transaction activity was relatively more in the peripheral locations of S.G. Highway and Bopal where such units are available mainly.

Further, during the quarter, new launches were concentrated in locations such as Makarba, Thaltej and Vasna in West Ahmedabad (33 per cent), followed by Vastral in the East (21 per cent) and Ranip in the North (19 per cent). The affordable segment accounted for 45 per cent of units launched in Q1 2014, while mid-end segment accounted for 55 per cent.

Similar Articles

Leave a Reply