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Latest Articles in housing development

COVID-19 Effect - Housing Sales, New Launches Dip 42% Each in Q1 2020 – ANAROCK

• Residential sales stood at 45,200 units in Q1 2020 against 78,510 units in Q1 2019 across top 7 cities; quarterly drop of 24% • Nearly 41,200 new units launched in Q1 2020 against 70,480 units in Q1 2019; min. 21% q-o-q drop in new supply • Hyderabad sees highest yearly drop of 50% in residential sales – from 5,400 units in Q1 2019 to approx. 2,680 units in Q1 2020; other cities witness similar declining trends • For new launches, MMR & Pune record maximum y-o-y drop of 61% & 56% respectively; Chennai & Kolkata’s new launches increase by 16% & 8% respectively • Despite the gloom, developers able to shed their unsold inventory by 3% y-o-y - from 6.65 lakh units in Q1 2019 to 6.44 lakh units in Q1 2020

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