Real estate inventory gather across 6 cities.

Balmiki Halder, Guwahati

10th February 2015

Real estate News in Mumbai

property prices

ncr

fall in sales

national capital region

pune realty market

mumbai realty market

residential sales

new launches in mumbai

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In spite of that sales volume remaining at an all-time low and inventory levels up, property prices in all the 6 cities have moved up. While Mumbai saw the maximum rise of 10%, NCR observed the least with 3%. Increase in property prices is basically because of increasing inputs cost for developers. The current economic indicators look positive, though the real effect will only be felt by the second half of this year.

Aveek Paul,

12th February 2015

Comment

At the same time when it comes to sales, NCR witnessed the sharpest fall in sales volume among all the 6 cities. Property sales fell by 43% y-o-y in NCR in 2014, followed by Hyderabad with 18%. Sales in Pune and Chennai declined by 10% and 14%, respectively, Mumbai by 9% and Bengaluru by just 3%.

Supratim,

11th February 2015

Comment

Well Supratim,
It is also seen that new launches have fallen by 43% in Mumbai, followed by Hyderabad that saw a 30% drop. NCR saw a decrease of 24% in the number of project launches in 2014 compared with 2013, Bengaluru 13%, Pune 26% and Chennai 25%.

Aveek Paul,

10th February 2015

Comment

Even the sales was down about 17 % from 284550 units in 2013 to 234930 in 2014. Similarly new launches dropped by around 28% from 372160 units in 2013 to 268950 units in 2014. It shows a residential sales decline of about 30% year-on-year ending 2014 and new supply additions decline of about 25% over the same period.

Supratim,

10th February 2015

Comment

You are right Supratim,
Residential launches and sales were at a 3 year low during the December quarter across the 6 tier-I cities. Project launches fell by 22% to 126233 units in the second half (H2) of 2014 from 161926 during the same period a year ago. The numbers are worse for the year compared with the half yearly figures.

Aveek Paul,

10th February 2015

Comment

As per a report Mumbai has approx. 12 qts of inventory, followed by Hyderabad with close to 8 qts and Pune, Chennai and Bengaluru with 7 qts each. Such inventory pile up is the result of poor sales despite a slowdown in the number of projects launched.

Supratim,

10th February 2015

Comment

A strong fall in sales has resulted in a huge inventory pile up with real estate developers. The National Capital Region has 192568 unsold residential units which will take approx. 14 qts to sell; it means that if no further units are added, the current inventory will take 14 qts to get sold.

Aveek Paul,

10th February 2015

Comment