<body><script type="text/javascript"> function setAttributeOnload(object, attribute, val) { if(window.addEventListener) { window.addEventListener('load', function(){ object[attribute] = val; }, false); } else { window.attachEvent('onload', function(){ object[attribute] = val; }); } } </script> <div id="navbar-iframe-container"></div> <script type="text/javascript" src="https://apis.google.com/js/plusone.js"></script> <script type="text/javascript"> gapi.load("gapi.iframes:gapi.iframes.style.bubble", function() { if (gapi.iframes && gapi.iframes.getContext) { gapi.iframes.getContext().openChild({ url: 'https://www.blogger.com/navbar.g?targetBlogID\x3d30670461\x26blogName\x3dReliance+SEZ+and+India+Real+Estate\x26publishMode\x3dPUBLISH_MODE_BLOGSPOT\x26navbarType\x3dBLUE\x26layoutType\x3dCLASSIC\x26searchRoot\x3dhttp://reliancesez.blogspot.com/search\x26blogLocale\x3den\x26v\x3d2\x26homepageUrl\x3dhttp://reliancesez.blogspot.com/\x26vt\x3d4003864164228706556', where: document.getElementById("navbar-iframe-container"), id: "navbar-iframe" }); } }); </script>

Home

Property Forum

ICICI SBI Credit Card

Dalal Street


Bangalore shines, Gurgaon slumps

Friday, April 25, 2014

Launches in Bangalore bounced back to 10,000-11,000 units/qtr after a slowdown in 4Q CY13, aided by faster approvals. Our recent meetings with Puravankara and Nitesh had highlighted the same. Absorption remains strong in the affordable category (Rs7.5- 15mn/unit, +8% YoY). Inventory levels remain steady around 8 qtrs of sales. Sobha has already reported 25% growth (QoQ) in Bangalore volumes as it had new launches in 1QCY14. While Prestige has not reported its operational update, we expect its presales number to be healthy too

Gurgaon – low demand is keeping developers away from new launches: In 1QCY14, demand was weakest since 1Q CY10 (-63% YoY). Low demand and high inventory (9.4qtrs of sales) is keeping developers away from new launches (-71% YoY, lowest since 2Q CY10). DLF and Unitech have seen
poor sales in 9MFY14 and we expect 4QFY14 to be low too.

Launches in Mumbai increased to ~12,700 units (from avg of 8,000 units/ qtr in CY13). This was driven by launches in certain micro markets of eastern suburbs and Navi Mumbai. Inventory levels remain high at
~10 qtrs of sales as high prices and an uncertain macro-economic environment are keeping buyers away (absorption down 7% to ~7,100 units).

0 Comments:

Post a Comment

<< Home