Launch activity has remained high in Gurgaon over the last 6 months. Recent key launch includes – Tata housing launch in Dwarka expressway at Rs11K psf levels which saw good response. Phase V also witnessed launch of much awaited luxury project. Additional launches in the pipeline include – IBREL and GPL launch around Dwarka expressway and impending super luxury launch in Phase V (Camilias). Absorption trends have improved with new launches witnessing good response. Pricing in the market has remained strong. Months of unsold inventory (at 11 months) has come down with the pick-up in absorption. Gurgoan market is expected to see large deliveries in CY13.
Tuesday, May 14, 2013
Project approvals in Mumbai finally gain pace
Residential market has witnessed high launch activity across key markets since the
beginning of this year (CY13). New project approvals in Mumbai have finally gained
momentum and launches have increased significantly over the last few months, after
a lull of more than 2 years. Pricing in Mumbai has seen some softening; while prices
in other key markets have been firm. Pick up in launch activity in Mumbai/Gurgaon
has met with good response; while Bangalore/Chennai markets have maintained their
steady run rate.
Number of large new launches have happened in Mumbai over the recent past. Key launches include Indiabulls’ new launches in South Central Mumbai (Sky, Sky Forest, BLU), L&T’s launches in Powai & Parel, Lodha's launches (BLUE MOON) in Parel, Kalapataru and Shaporji launches in suburbs (see table below for details). Most of these launches by reputed developers (Shapoorji, L&T, Lodha etc) have
garnered good response aided by some price discounting and last 2 years pent up demand.
Number of projects in the city are offering 20:80 schemes, which is essentially pre EMI waiver for the buyers till the possession of the unit. Unsold inventory has come down marginally (to 27 months). Deliveries last year were very low given approval delays. However, this year is expected to see some large completions in the suburbs (Oberoi Grande, DB Orchid Woods, HDIL Andheri etc)
Number of large new launches have happened in Mumbai over the recent past. Key launches include Indiabulls’ new launches in South Central Mumbai (Sky, Sky Forest, BLU), L&T’s launches in Powai & Parel, Lodha's launches (BLUE MOON) in Parel, Kalapataru and Shaporji launches in suburbs (see table below for details). Most of these launches by reputed developers (Shapoorji, L&T, Lodha etc) have
garnered good response aided by some price discounting and last 2 years pent up demand.
Number of projects in the city are offering 20:80 schemes, which is essentially pre EMI waiver for the buyers till the possession of the unit. Unsold inventory has come down marginally (to 27 months). Deliveries last year were very low given approval delays. However, this year is expected to see some large completions in the suburbs (Oberoi Grande, DB Orchid Woods, HDIL Andheri etc)
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