Pune Real Estate: New housing supply dips by 48 per cent in 2020
Pune: The new project launches in the city declined by about 48 per cent this year. Pune added approximately 23920 units in 2020 against 46110 units in 2019, a report by Anarock Consultants has revealed.
Hyderabad was the only city to see new launches increase during the year. The key cities contributing to 2020 new unit launches were Mumbai, Pune, Bengaluru and Hyderabad which together accounted for 76 per cent of addition.
The top 7 cities in the country saw total home sales of over 1.38 lakh units in 2020 against approximately 2.61 lakh units in 2019 – a decline of 47 per cent. Further, new housing supply in 2020 declined by 46 per cent against the preceding year – from approximately 2.37 lakh units in 2019 to approximately 1.28 lakh units in 2020. Mumbai and Pune were the showstoppers in overall residential activity in 2020.
* In Hyderabad, new launches increased by a whopping 42 per cent in 2020 compared to 2019. New launches stood at approx. 21,110 units in 2020, against 14,840 units last year.
* Meanwhile, MMR saw restricted new launches of approx. 30,290 units in 2020 as against 77,990 units last year – declining by 61 per cent.
* Pune added approx. 23,920 units in 2020 against 46,110 units in 2019 – reducing by 48 per cent.
* Chennai added approx. 9,170 units in 2020 against 13,000 units a year ago, reducing by 29 per cent.
* Bengaluru added approx. 21,420 units in 2020 against 39,930 units in 2019, a fall of 46 per cent.
* NCR kept its new supply restricted to approx. 18,530 units in 2020 against 35,280 units in 2019 – a decrease of 47 per cent.
* Kolkata added the least new supply of approx. 3,530 units in 2020 against 9,420 units in 2019 – a decline of 63 per cent y-o-y.
|City||New Launches 2020 (Units)||New Launches 2019 (Units)||% Change|
Table compiled by ANAROCK Research
Anuj Puri, Chairman, Anarock Property Consultants says, “2020 has been an unprecedented year due to COVID19, causing all-round upheaval. However, the residential segment was quick to pick up momentum in the last two quarters of 2020 on the back of growing homeownership sentiment – catalysed by the exigencies of the pandemic. This pent-up demand was further accelerated by the ongoing discounts and offers, the prevailing lowest-best home loan interest rates and limited-period stamp duty cuts in states such as Maharashtra.”