-
ALSO READ
Analysts bullish on real estate sector amid increased capex, healthy demand
Real estate sales pick up. Know how to play the theme
1989 Tiananmen Square protester killed in his New York law office
Hong Kong university removes 1989 Tiananmen square massacre statue
Real estate MoUs to Haldiram, industrial development in J&K gets a boost
-
Fresh housing supply rose 43 per cent quarter-on-quarter across six cities during January-March to around 80,000 units, mainly driven by a revival in the demand for residential properties, according to proptech firm Square Yards.
Technology-led real estate consultant Square Yards sells homes on behalf of builders and facilities home loans to consumers.
In its report 'India Residential Overview: Jan-Mar 2022', Square Yards has covered Hyderabad, Bengaluru, MMR (Mumbai Metropolitan Region), Pune, Noida and Gurugram.
"The top six cities witnessed the new launch of close to 80,000+ housing units, noting an exorbitant Q-o-Q rise of 43 per cent.
"The year 2022 has started on a positive note with both sales and new launches witnessing improved numbers across top cities," Square Yards said.
Strongly rooted in high homeownership sentiment, the realty sector during the first quarter of 2022 has predominantly remained end-user driven.
The MMR continued to retain its top position in the number of new residential units launched. Hyderabad inched up a little, attracting the interest of big builders in the market.
According to the data, the MMR contributed 35 per cent to the total new launches during the January-March quarter across six cities.
Hyderabad's share in total launches stood at 25 per cent, followed by Pune 17 per cent, Bengaluru 16 per cent, Gurugram 5 per cent and Noida 2 per cent.
"Even though home buying trends in the post-Covid era has been largely influenced by the need for space, health and wellness amenities, demand trends in Q1, 2022 shifted slightly towards smaller units," the report said.
The first quarter of 2022 recorded a 42 per cent share of the total online searches for 2BHK units, a rise of 3 per cent compared to Q4 2021.
The demand for 3BHK homes dropped slightly.
However, the consultant said this shift seems to be completely transient.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU