New Delhi, Sep 30 (IANS) Areas in the National Capital Region (NCR) have considerably restricted its new supply of houses in comparison to other metros, including Mumbai, Bengaluru, Pune, and Hyderabad, in the third quarter of 2022, latest data show.
The Mumbai Metropolitan Region (MMR) and Hyderabad witnessed the highest new launches with nearly 36,000 units and 15,530 units, respectively, while NCR recorded 6,400 units.
The momentum of housing sales continued in the third quarter of 2022.
The ANAROCK data revealed that as many as 88,230 units were sold across the top seven cities in the said period — a 4 per cent quarterly increase and 41 per cent annual rise.
Q2 2022 had seen approximately 84,930 units sold across the top seven cities, while in the corresponding period of 2021, some 62,800 units were sold.
MMR witnessed the highest sales of 26,400 unitss, followed by NCR with 14,970 units.
About 93,490 units were launched in Q3 2022, against 82,150 units in Q2 2022, thus increasing by 14 per cent. In Q3 2021, 64,560 units were launched, so the annual increase is a whopping 45 per cent.
In terms of budget segments, 36 per cent of the total new supply was launched in the mid-segment (Rs 40-80 lakh), 28 per cent in the premium segment (Rs 80 lakh to Rs 1.5 crore), while 18 per cent each in the luxury and affordable segments.
Amid an increase in new supply, existing housing inventory saw a 1 per cent quarterly rise in Q3 2022. However, on annual basis, inventory declined by 4 per cent in Q3 2022 across the top seven cities.
As on Q3 2022-end, the available inventory stood at over 6.30 lakh units.
Anuj Puri, Chairman, ANAROCK Group, said: “The momentum of both housing sales and new launches stayed strong in the top 7 cities in Q3 2022 despite major headwinds. The appetite for homeownership has remained undeterred, with maximum sales being driven by the end-users. Interestingly, there has been increased new supply by the leading and listed developers, who also reported robust housing sales.
“This trend will very likely continue in the upcoming festive quarter as well since homeownership sentiment has increased hugely post the pandemic.
“However, if inflation remains at elevated levels forcing RBI to aggressively increase interest rates, there might be some turbulence in the market.”
ANAROCK’s most recent Consumer Sentiment Survey found that high inflation has majorly impacted the disposable incomes of at least 61 per cent of the respondents.
The survey also found that housing sales may be impacted to some extent if home loan interest rates breach the 9.5 per cent mark.