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Project launches up 43% QoQ across six cities

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More than 80,000 residential units were launched in the first three months of calendar year 2022 across top six cities of Mumbai Metropolitan Region (MMR), Noida, Gurugram, Pune, Bengaluru and Hyderabad.

The number of project launches in the top six cities recorded a quarterly rise of 43%, with MMR bagging the highest share of 35%, followed by Pune, which accounted for 25% of the total launches, according to a report by Square Yards. With a 26% share of the total online searches in January-March 2022, MMR was the most searched city, closely followed by Hyderabad at 22%.

Mid-segment properties in the budget bracket of Rs 30-60 lakh and Rs 60 lakh -1 crore were searched the most by online property seekers during the quarter.

Bigger configuration houses—those with three bedrooms, hall and kitchen — formed more than 40% of the residential supply in Bengaluru and Gurugram. Two-bedroom units continued to be most preferred by homebuyers during the quarter with 42% of the total demand share. The preference for units with one room, hall and kitchen also increased. 

The survey found that independent homes are in demand again with a 27% share of the total property searches across the top six cities. Southern cities, namely Hyderabad and Bengaluru, lead the searches with about 42% demand each for independent homes in the cities during the January-March 2022 quarter. Demand for luxury and ultra-luxury residential spaces, with more than 3,000 square feet space, was more evident in Bengaluru and Gurugram.

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