Mumbai sees maximum new housing units launches in April-June period

Bengaluru: Mumbai, Hyderabad, Pune and Bengaluru were the four metro cities that saw the maximum number of launches of new housing projects during the April-June quarter of this year.

Mumbai Metropolitan Region (MMR) saw the maximum number of housing units added during this period with around 43,390 units launched. This was 31 per cent higher over the same period of last year. Importantly, more than 61 per cent of the new supply came up in below Rs 80 lakh budget segment, real estate consultancy firm ANAROCK said.

Pune was in the second place with addition of around 21,350 units in Q2 of 2023 as compared to 16,560 units launched in the same period last year.

While Bengaluru added about 11,440 units during this period, a YoY fall of 9 per cent, Hyderabad added around 10,470 units in Q2 2023, a yearly decline of 51 per cent over the corresponding period last year.

On the sales, ANAROCK said quarterly housing sales were at an all-time high with about 1,15,100 units sold during April-June period across the top seven cities. This was a 36 per cent rise over the same period last year.

“The housing market is yet to feel the impact of the home loan rate hike early this year, and of the global economic headwinds. It continues to be on a roll with the momentum remaining strong even in the second quarter of 2023. Housing sales in the top 7 cities broke the previous high record of Q1 2023 and stood more than 1.15 lakh units in Q2 2023. Pune and MMR were the only two cities to see quarterly rise in housing sales while other cities saw some dip. But on yearly basis, most top 7 cities saw significant jump in housing sales,” Anuj Puri, Chairman of ANAROCK Group said.