edited by: Mohammad Haris
Last Update: December 29, 2022, 10:36 IST
A total of 4,31,510 units are projected to be launched in 2022, registering a sharp growth of 101 per cent as compared to 2021.
Total 3,08,940 housing units to be sold in 2022 as compared to 2,05,940 units sold in 2021
Sale of residential real estate in India 2022 is set to witness a growth of 50 per cent, while new launches grew further during the year and registered a growth of 101 per cent with a total of 4,31,510 new homes launched during the calendar year 2022, according to a report by Online Real estate brokerage company PropTiger.com.
A total of 3,08,940 units are expected to be sold in 2022 as compared to 2,05,940 units sold in 2021, according to the report titled ‘Real Insight Residential – Annual Round-up 2022 (January-December)’.
It added that the figures include sales numbers for all four quarters in both calendar years for the top eight cities including Ahmedabad, Bengaluru, Chennai, Hyderabad, Kolkata, Delhi-NCR (Gurugram, Noida, Greater Noida, Ghaziabad and Faridabad) . , MMR (Mumbai, Navi Mumbai and Thane) and Pune.
“A total of 4,31,510 units are expected to be launched in 2022, registering a sharp growth of 101 per cent YoY as compared to 2021. New launches witnessed a multi-year high, registering a growth of 6 per cent over 2015 levels. Mumbai continues to lead in terms of new supply in 2022, accounting for 39 per cent of the total launches, followed by Pune and Hyderabad, which have accounted for 18 per cent and 19 per cent, respectively,” said the report.
It also said that this improvement in key growth metrics for the sector, the second largest employment generator in India after agriculture, is largely attributed to the new importance of home ownership during the pandemic and improving consumer sentiment following the sustained economic recovery. can go. -Epidemic.
Demand grew both sequentially and annually in all the four quarters of the year. Western markets Mumbai and Pune continued to show maximum traction, taking a combined share of 56 per cent of total sales in 2022.
A major chunk (26 per cent) of sales is concentrated in the Rs 45-75 lakh price range. The share of units in the Rs 1 crore plus price bracket has been steadily increasing. This value bracket took a 22 per cent share in 2022, the highest in a decade. In 2022, 21 per cent units sold were ready to move in while the remaining 79 per cent were under construction.
In Q4 2022, residential demand is at par with pre-pandemic levels in 2019. With sales of 80,770 units in the last quarter of 2022, a 19 per cent increase in demand is expected as compared to Q4 2021. While the rise in property prices and interest rates have gradually started to outweigh the positive homebuyer sentiment to an extent and are expected to have a short-term impact, the overall consumer outlook remains positive, it said.
The visible change in attitude towards home ownership among consumers post the pandemic has instilled confidence among stakeholders and encouraged real estate developers in India’s top cities to launch new projects by 2022.
In Q4 2022, 1,45,030 units were launched, registering a growth of 95 per cent. New launches have been above the 1,00,000 mark for the third consecutive quarter in 2022.
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