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Maximum housing sales and launches in sub Rs 50-lakh segment: Report

The current unsold residential stock across 35 cities stood at over 13 lakh units; Maximum growth in sales in Faridabad and maximum reduction in Greater Noida

Representative image
Representative image

More than half of the residential sales this quarter were contributed by sub-Rs 50 lakh segment. This segment also witnessed 66 percent of new launches in the quarter with the highest supply coming up in Pune (75 percent) followed by MMR (49 percent) and NCR (82 percent), according to a report by by Liases Foras titled Residential Real Estate Market Report Q3 2019-20.

The current unsold residential stock across 35 cities stood at over 13 lakh units, the report said.

The top-35 cities recorded sales of 95,271 units in the December quarter (Q3 FY 19-20) which is a 5 percent growth as compared to last quarter or a 3 percent growth as compared to same period last year, the report said.

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As many as 27 out of 35 cities witnessed an upward movement in sales this quarter. Almost 58 percent of the sales of this quarter were contributed by sub-50 lakh segment. Sales of sub-50 lakh segment has shown a 3 percent growth on YoY while a 7 percent growth on QoQ basis, the report said.

Sales in the less than Rs 30 lakh segment increased by 8 percent on a QoQ basis and by 9 percent on YoY basis. NCR had highest sales share in this segment (19 percent) followed by MMR (14 percent), outer MMR (12 percent), Pune (10 percent) and Ahmedabad (10 percent), the report said.

Sales of properties in the range of Rs 30 to Rs 50 lakh increased by 6 percent on QoQ but decreased by 1 percent on YoY basis. Maximum sales in the segment was weighed in by MMR (17 percent) and Pune (16 percent) followed by Ahmedabad (11 percent), NCR (10 percent) and Bengaluru (9 percent).

Sales of properties worth Rs 50 lakh to Rs 1 crore increased by 2 percent on QoQ basis while it remained almost stable on YoY basis. Bengaluru had maximum sales share of 19 percent in the segment followed by MMR (16 percent), Pune (12 percent), NCR (9 percent) and Hyderabad (9 percent).

Sales in the luxury segment (Rs. 1–2 crore) remained stable on QoQ basis but showed a growth of 2 percent on YoY basis. MMR had maximum share of 34 percent, Bengaluru (15 percent), Hyderabad (12 percent) and NCR (10 percent) in this segment. Sales in ultra luxury segment (above Rs 2 crore) decreased by 1 percent on QoQ basis but increased by 1 percent on YoY basis. MMR, NCR, Hyderabad and Bengaluru combined together had a sales share of 74 percent in this segment.

Maximum growth in sales in Faridabad; maximum reduction in Greater Noida

In NCR, sales witnessed a significant drop in all suburbs except Faridabad and Gurugram which showed a growth of 81 percent and 24 percent respectively. Sales declined maximum in Greater Noida (-43 percent) followed by Ghaziabad (-35 percent), Noida (-4 percent) and Bhiwadi (-1 percent).  Unsold stock shrunk in Greater Noida, Ghaziabad and Bhiwadi by 11 percent, 10 percent and 10 percent respectively while it increased by 6 percent in Faridabad and by 3 percent in Gurugram.

New launches

The top-35 cities witnessed new launches of 92,409 units during the 3 rd quarter of FY 19-20. The number increased by 15% on QoQ basis and 38 percent compared to same period last year. In tier-I cities, new launches increased by 10 percent as compared to the previous quarter and 32 percent as compared to same period last year.

The sub-50 lakh category witnessed 66% of new launches in the quarter. Highest supply in the segment came in Pune, contributing 75 percent of total city's new supply followed by in MMR and NCR contributing 49 percent and 82 percent of their new supply respectively.

Unsold stock in NCR declines by 7 percent

The unsold stock had marginally increased on QoQ basis in 35 cities while it increased by 4 percent on YoY basis. This increase can be attributed to the high new launches this year. The current unsold across 35 cities stands at 1,315,631 units, the report said.

Unsold stock in 35 cities increased by 4 percent in Dec-19 as compared to same period last year with 21 cities showing a growth on YoY. Out of top 15 cities, maximum increase was seen in Surat (26 percent), Nashik (25 percent), Vadodara (24 percent) and Pune (21 percent) while maximum drop was observed in Bhopal (13 percent) followed by NCR and Kolkata with 7 percent drop each.

Property prices

Weighted average price across 35 cities exhibited a marginal drop of a percent as compared to previous quarter as well as on YoY basis. Prices dropped marginally in 16 cities while it increased in only seven cities.

Hyderabad exhibited the highest growth in prices by 16 percent while MMR and Nashik showed maximum drop of 7 percent and 6 percent respectively, the report noted.

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First Published on Feb 13, 2020 02:40 pm
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