Bengaluru saw 13,900 new launches in Q3 2022, second highest across top 7 cities: Report

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The housing sale in Bengaluru rose 10 percent in the third quarter of the calendar year 2022 (Q3FY22) on a sequential basis as 12,700 housing units were sold during the period. Mumbai Metropolitan Region (MMR) registered the highest number of new launches among the top seven cities, with Hyderabad being the second, according to Anarcock Q3 FY22 residential market report.

A total of 13,900 new units were launched in Bengaluru in the third quarter of 2022, up by 1.1 times compared to Q2 2022.

New launches in Bengaluru accounted for 15 percent of the overall supply across the top seven cities in India. On a year-on-year basis, Bengaluru recorded the second-highest increase of 81 percent in the new launches.

East Bengaluru registered 44 percent of the home sales in Q3 2022, while North Bengaluru saw a 2 percent drop in unit sales in Q3 2022 as compared to Q2 2022. South Bengaluru witnessed a 2 percent rise in home sales in the current quarter. Housing sales in West Bengaluru remained constant in the third quarter compared to the previous quarter.

Mid-segment housing was the highest launched price segment in Q3 2022, with a share of 48 percent followed by 27 percent in the high-end segment and 17 percent in the affordable price bracket. The luxury segment saw the lowest launches in the city at 8 percent.

By the end of the third quarter of 2022, Bengaluru's available inventory, stood at 58,900 residential units, representing 9 percent of the total available inventory across the top seven cities.

East Bengaluru has the highest unsold volume at around 41 percent stock; followed by 27 percent housing units in South Bengaluru and 24 percent in North Bengaluru.

With a share of 39 percent, the high-end segment made up the majority of the available inventory in Bengaluru, followed by 23 percent and 21 percent in the affordable and mid-segment categories, respectively.