News: New launches dip 46% in top seven cities in 2020: ANAROCK-31-12-2020
The top seven cities saw total home sales of over 1.38 lakh units in 2020 against approx. 2.61 lakh units in 2019 - a decline of 47%.
NEW DELHI: New housing supply in 2020 declined by 46% in the top seven cities against the preceding year i.e. from approx. 2.37 lakh units in 2019 to approx. 1.28 lakh units in 2020, according to ANAROCK.
Hyderabad was the only city to see new launches increase during the year. New launches in the city increased by 42% in 2020 compared to 2019. New launches stood at approx. 21,110 units in 2020, against 14,840 units last year.
Meanwhile, Mumbai Metropolitan Region (MMR) saw restricted new launches of approx. 30,290 units in 2020 as against 77,990 units last year - declining by 61%.
Bengaluru added approx. 21,420 units in 2020 against 39,930 units in 2019, a fall of 46%. Pune added approx. 23,920 units in 2020 against 46,110 units in 2019 - reducing by 48%. Chennai added approx. 9,170 units in 2020 against 13,000 units a year ago, reducing by 29%.
National Capital Region (NCR) kept its new supply restricted to approx. 18,530 units in 2020 against 35,280 units in 2019 - a decrease of 47%. Kolkata added the least new supply of approx. 3,530 units in 2020 against 9,420 units in 2019 - a decline of 63% year-on-year.
The top seven cities saw total home sales of over 1.38 lakh units in 2020 against approx. 2.61 lakh units in 2019 - a decline of 47%.
MMR saw housing sales of approx. 44,320 units in 2020, reducing yearly by 45%. Last year, the city saw total sales of nearly 80,870 units.
In Bengaluru, housing sales touched 24,910 units in 2020 against 50,450 units in 2019 - a decline of over 51%. In Pune, housing sales stood at 23,460 units in 2020 against 40,790 units in 2019 - a fall of 42%.
NCR witnessed housing sales of 23,210 units in 2020 over 46,920 units a year ago. The region saw its sales plummet 51%. Kolkata saw housing sales of 7,150 units in 2020 against 13,930 units in 2019 - a 49% yearly drop.
Hyderabad sales stood at 8,560 units in 2020 versus 16,590 units in 2019 - thus reducing by 48%. In Chennai, housing sales in 2020 stood at around 6,740 units as against 11,820 units in 2019 - a 43% fall.
