New housing supply up 51% across 7 cities; NCR sees 20% fall in launches
New supply of residential properties rose 51 per cent last year to 3,57,635 units across seven major cities as builders launched more projects to tap rising demand, according to Anarock.
In its annual report for 2022, the leading housing brokerage said new launches increased to 3,57,635 units last year from 2,36,693 units in 2021 across seven major cities.
New launches of housing units were up in five cities --Mumbai Metropolitan Region (MMR), Kolkata, Bengaluru, Hyderabad and Pune, but fresh supply fell in Delhi-NCR and Chennai.
The total new launches in 2022 remained lower than previous peak of 2014 when more than 5.45 lakh units were launched in the top seven cities, Anarock said.
As per the data, new launches in MMR jumped over two-fold to 1,24,652 units in 2022 from 56,883 units in the previous year.
Bengaluru saw a 61 per cent increase in new launches to 49,196 units in 2022 from 30,646 units earlier.
Pune too witnessed a 61 per cent growth in new launches to 64,343 units f