According to the top real estate brokerage’s yearly survey for 2022, there were 3,57,635 new launches spanning seven major cities last year, up over 2,36,693 units in 2021.
Five metropolitan cities, Mumbai Metropolitan Region (MMR), Bengaluru, Kolkata, Hyderabad, and Pune—had an increase in the number of housing unit launches, while Chennai and Delhi-NCR saw a decrease.
According to the report, the overall number of new launching in 2022 was less than the previous high of 2014, since more than 5.45 L units were introduced throughout the top seven cities. According to the data, the number of new launches in the MMR increased more than twofold from 56,883 units in 2021 to 1,24,652 units in 2022.
49,196 new units were launched in Bengaluru in 2022, up 61% from the 30,646 units that were launched the year before. Pune also had a 61% increase in new releases, reaching 39,869 houses in 2021 to 64,343 units in 2022.
While fresh supply in Kolkata increased by 17% to 16,088 apartments last year from 13,746 units, new releases in Hyderabad increased by 32% to 68,007 from 51,470 units.
However, Chennai had a 19% decrease in new launches from 12,373 units in 2021 to 9,994 units in 2022.
In the Delhi-NCR region, new residential property launches decreased by 20% to 25,355 units over the course of the most recent fiscal year from 31,706 apartments in 2021.
Anuj Puri, chairman of Anarock, commented on the revised supply outlook by saying that new launches are anticipated to be well under control in the majority of major cities. “Ready-to-move-in will persist to be in high demand from buyers, but new releases will also see an increase in demand.
This is mostly due to the market’s fresh supply being dominated by big, publicly traded developers in the coming year, he noted.
Puri emphasised that there is trust among the customers for these substantially listed developers. Because of this, he continued, “they will continue to function admirably and experience big sales, just like they did in 2022.”
According to the consultant, the growth in home prices on a yearly basis has been between 4 -7%, mostly as a result of rising input costs and a rebound in demand following COVID. By the end of 2022, there were 6,30,953 unsold housing units spread among these seven cities.
