Delhi-NCR witnesses 62% rise in new home launches in Jan-March: C&W
According to property consultant, Cushman and Wakefield (C&W), launching of new homes increased to 62 per cent to 4600 units in Delhi-NCR during January –March period despite sluggish demands and unsold stocks. Of the total launches, over 40 per cent were seen in the affordable housing segment.
Average ticket price in the affordable housing segment (below Rs 40 lakh) have fallen by 10 per cent in the last two years with developers reducing the falling base price and also cut in launch rates.
In its report, the consultant stated that the launch of new homes increased to 4600 units from 2,800 in the same period last year.
Developers in Delhi-NCR have focused more on the affordable segment that accounted for 41 per cent of total launches in January- March quarter with launch of 1,855 units. This represented a 67 per cent increase from the corresponding quarter last year.
The consultant also revealed the strategy of low pricing by lowering the average launch prices and by resizing the units.
The data showed, “The average ticket price has dropped to Rs 32.8 lakh as against Rs 36.3 lakh in the month of Jan-march 2014.”
Overall in the eight major cities, new homes launches rose from 27 per cent in Jan-March 2015 to 31,200 units from 27,400 units in the year ago period. Kolkata witnessed the maximum rise in the launches 71 per cent to 3,700 units during the period under review.