High-rises account for over 50% of 1,816 housing projects launched across 7 big cities in 2019

Morethanhalfof1,816housingprojectslaunchedlastyearacrosssevenbigcitieswerehigh-rises,whileshareofvillasdeclinedtoanall-timelowat2percent,accordingtopropertyconsultantAnarock.

"WithIndiancitiesunderincreasingpressuretogrowvertically,theshareofhigh-rises(G+20floorsormore)scaledunprecedentedheightsin2019,"AnarockChairmanAnujPurisaid.

Oftotal1,816projectslaunchedin2019acrosssevenmajorcities,morethan52percentwereofG+20floorsormore.Totalsupplyshareofvillasdeclinestoall-timelowof2percentin2019against5percentin2014.

Anarock,whichisprimarilyintobrokeragebusinessinresidentialpropertymarket,trackspropertymarketsofsevencities--nationalcapitalregion(Delhi-NCR),MumbaiMetropolitanRegion(MMR),Kolkata,Chennai,Bengaluru,HyderabadandPune.

Accordingtothedata,land-scarceMMRtopsthelistwithover75percentofthetotal734projectslaunchedin2019inthehigh-risecategory.

"WithG+20floorsthenewnormalintheregion,MumbaiisclosinginonothermegacitieslikeNewYork,HongKongandTokyowherebuildingsastallasG+50floorsarethenorm,"thereportsaid.

TheDelhi-NCRmarketcamenextwithnearly70percentofitstotallaunchedprojectsinthehigh-risecategory.

Bengaluruclockedinwith45percentofthetotalprojectslaunchedin2019toweringaboveG+20floors,followedbyPunewith41percentshare.

InHyderabad,KolkataandChennai,theshareofG+20floorsoraboveoptionisscantier,withtheirhigh-riseshareat23percent,21percentand16percentrespectively,itadded.

"Notably,ChennaiandHyderabad-twocitieswhichhadstucktomoreconventionallow-riseformatsforlongaregraduallywarminguptohigh-risehousingdevelopments.Inboththesecities,thewell-to-dopreferredbungalowsandsea-facingvillas.Itisonlyinthelastdecadethatthesecitieshavebeguntogrowvertically,largelyduetoaccommodateincreasedinwardmigration,"theconsultantsaid.

Onvillas,Anarocksaidthatoutofthetotalnewlaunchesof5.45lakhunitsin2014,nearly5percentwerevillas.In2019,thissharedroppedto2percentofthetotalof2.37lakhunitslaunchedduringtheyear.

"Theincreasingtrendofverticaldevelopmenthastakenthesheenoffaoncehighly-preferredpropertytype-villas.Bothdemandandsupplyofthisformatarediminishing,withwealthyhomebuyerspreferringthelatter-dayconceptofskyvillas',"Anarocksaid.

ShareofnewsupplyofvillasinHyderabaddroppedto8percentlastyearfromover35percentin2014.

InChennai,theshareofvillasin2014wassecond-highestwithover16percentoftotalnewlaunches(28,540units).In2019,thissharedroppedto5percentofthetotal13,000unitslaunched.

Bengalurusawitsshareofvillalaunchesdropfrom12percentin2014to5percentin2019.Theoveralllaunchesinthecitystoodat85,950unitsin2014and50,450unitsin2019.

Delhi-NCRsawonlyamarginaldropfroma3percentshareof1.73lakhunitsin2014to2percentof46,920unitsin2019.

MMRhad1percentshareofvillasfromatotal1.34lakhunitslaunchedin2014anditssharein2019isnowzero.

InPuneandKolkatatoo,theshareofvillasupplyhasbeennegligibleinthelastfiveyears,thereportsaid.

AnarockpostedarevenueofnearlyRs190croreinthelastfiscal.ItcompeteswithNewsCorp-backedPropTiger,AnilAmbani-ledReliancegroupbackedSquareYard,Quikr,InvestorsClinic,360RealtorsandWealthClinicinorganisedhousingbrokeragebusiness.