Well, it looks like.
The squalid times are a thing of the past as the Indian real estate sector has well and truly recovered over the last few years and is currently on track towards steady and balanced future growth. The Indian Government has taken pro-active steps towards infusing some life back into
the realty segment and these measures seem to have worked, going by recent market trends. Developers are now more optimistic about the prospects of the sector in 2019 across the top 7 cities in India and also in tier-II and III cities as per reports.
Let us take the report for India’s topmost 9 cities and how they fared in the first Quarter of 2019:
- Gurugram real estate market overview in Q1 2019: Gurugram saw a decline of 58% on new launches in Q1, as compared to the previous quarter. Absorption saw an increase of 11% to 2,918 units in the QoQ period, as ready inventory was the first to be sold.
- Noida real estate market overview in Q1 2019Noida saw a 73% increase in new launches, as new projects were launched in the mid segment, to take advantage of the improving market sentiment.
Mumbai real estate market overview in Q1 2019: New launches witnessed a fall of 1% QoQ, with absorption also falling by 10%. - Kolkata real estate market overview in Q1 2019: Kolkata saw a fall of 36% in new launches in Q1, with sales also crashing by 20% QoQ, as this market witnessed declining housing demand.
- Hyderabad real estate market overview in Q1 2019: This region saw the maximum jump in new launches with a 100% increase, at 3,026 units launched. Overall absorption fell by 19% in Q1, as supply was more than the demand in the quarter.
- Bengaluru real estate market overview in Q1 2019: India’s IT capital saw a marginal fall of 1% in new launches in the quarter. The city, which has a high unsold inventory of 94,979 units, saw a decline of 4% in unsold stock.
- Pune real estate market overview in Q1 2019: Pune saw a jump of 4% in new launches at 9,287 units in Q1. Absorption also went up by 3% at 14,996 units, indicating a healthy housing market.
- Chennai real estate market overview in Q1 2019: Chennai also saw a jump of 11% in sales in Q1, at 2,862 units.
- Thane real estate market overview in Q1 2019: Thane witnessed a massive jump of 40% in new launches in the quarter at 9,427 units but absorption fell by 14% in Q1. Unsold stock fell by 3% to 1,33,751 units in the quarter.
- For tricity, as in major cities of India, the demand has been promising. The budget has given a positive push to the investor/customer who is now eager to invest in luxury homes. The demand has been high for affordable and mid income segment.
Branded & Well Established Players with good fundamentals are expected to do well this year.
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