 "A labourer stands on a truck carrying construction materials at a construction site of residential buildings Reuters")
Hit by demonetisation and Real Estate (Regulation & Development) Act compliance, launch of new residential projects in top eight cities — Ahmedabad, Bengaluru, Chennai, Hyderabad, Kolkata, Mumbai, National Capital Region (NCR) and Pune — came down by 41 per cent in first half of 2017, a seven-year low, according to a report by Knight Frank.
Launches were 73 per cent down when compared with the first half of 2013. Chennai was the only market to record a marginal four per cent year-on-year rise in launches. Ahmedabad and the NCR and were the worst hit, with launches plummeting 79 per cent
