New housing supply in Thane, Mumbai and Pune falls 40-50% during Q2: Report

Thane, Mumbai and Pune in Maharashtra saw a significant decline of 40-50 per cent in new supply of residential units during July-September period, owing to demand slowdown in the real estate sector, a report said.

According to data analytics firm PropEquity, new launches or supply declined by 49 per cent in Thane to 4,490 units during July-September quarter of 2019 compared to the same period of last year.

Mumbai and Pune witnessed 44 per cent decline in new launches. Supply stood at 6,341 units in Pune and 1,862 units in Mumbai.

In the Delhi-NCR, Noida saw maximum decline of 100 per cent as there was no fresh supply in the city during July-September 2019.

"Gurugram witnessed almost negligible new launches of 80 units in one project and there were no new launches in Noida. Pune, Mumbai and Thane saw an addition of 6,341, 1,862 and 4,490 units, respectively. This represented a decline of 44 per cent each in Mumbai and Pune and 49 per cent in Thane on year-on-year basis," the report said.

In Hyderabad, there were 4,797 units launched in July-September 2019, up 22 per cent on year-on-year basis.

Similarly, Bengaluru witnessed new launches of 9,509 units in July-September quarter, an increase of 1 per cent from the year-ago period.

Chennai, with an addition of 2,749 units, also witnessed an increase of 8 per cent in new launches on yearly basis. New supply in Kolkata dipped by 5 per cent to 2,816 units during the period under review.