Real estate ecosystem in Mumbai, Pune, Bangalore and Delhi/NCR in 2016

Real estate imageAccommodation Times News Service

In a bid to understand the real estate scenario in the year 2016, a detailed market report is put forward by 99 Some of the key features are as follows:

Mumbai recorded 20% year-on- year rise in sales volume in H1 2016. Worli emerged as new housing luxury destination in Mumbai.It recorded an year -on-year price appreciation of 4 percent.

Bangalore recorded approximately 21,800 new unit launches by the end of Q3 2016. The QoQ dip in new projects is majorly attributed to the momentary civil unrest over Cauvery Water, followed by demonetisation.

Developers restrained new residential launches in Delhi NCR, due to an inventory overhang and delays in obtaining construction approvals and clearances. New launches in the city, thus, dipped by 20-30 percent YoY. By the end of H1 2016, Delhi NCR had about 2 lakh housing units still unsold.

Pune witnessed a launch of approximately 13,000 units by the end of Q3 2016. Majority of these properties fell in the mid-income segment category as developers focused on catering to the genuine buyers or end-users. North-west and North-east regions recorded maximum number of new project launches.

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