27% increase in new housing launches in Q1-2018


Sequel policy reforms regarding housing sectors and the modern structural changes have made a 27% increase in Q1-2018. It is just the contrast scenario faced by the real estate developers and home buyers in the demonetization period. It is due to the faster clearances and transparent approvals in dealing and buying homes. This has made the increase in the selling of homes. The other important reason is the technological advancement which has contributed more to the buying of residential. People are now much aware of all the beneficial banking schemes and have got a wide knowledge of what to buy? And where to invest? This has made a wide range of new apartments in the top metropolitan cities of India.


Q1 2018 overview of launches in the top cities of India


Bangalore has given a massive launch of 6800 units in Q1-2018. This is due to the proximity of technological growth and the expansion of major IT companies in the City. The builders are making a perfect move to attract the residents by building homes with no compromise in the locality. Concorde Mayfair is an upcoming residential Apartments in Medahalli, Close to Old Madras Road. Mumbai Metropolitan Region (MMR) has supplied 8600 units which were 25% less when compared to the Q4-2017; being one of the busiest cities the localities have been saturated with apartments and homes everywhere. Pune city contributed 7% by supplying 2200 units, Chennai with 2100 units. Kolkata has marked the huge difference with its Q4 2017 supply that it has increased 360%. Their contribution was 6500 units. 
Concorde Mayfair Apartments
Concorde Mayfair


Overview of residential sales


The increase in the sale rate is witnessed in the top cities of India. Mumbai standing with maximum growth of 25%, NCR with 19%, Pune with 15%, Ahmedabad with 20%.In the previous quarter, it was only 66,879 which has now become 69,101 units. The increase is due to the affordability of housing schemes by the real estate developers. Above is proved clearly from the survey report that shows the highest numbers of unit cells are in the range of affordable rates ranging from 25 lacs to 50 lacs which contribute around 35% of total sales. Houses in the range of 50 lacs to 1 crore were mainly established in the Mumbai Metropolitan region. 


RERA that favors a lot


The Indian parliament passed the Real Estate (Regulation and Development) Act which protects the home buyer’s interest rates and provides transparency and better accountability in purchasing with the builders. The builders cannot advertise their residential before getting clearance from RERA. It has increased the on-time delivery of projects and also enforces on quality construction. During the clearance procedure all the information like the project plan, layout, master plan, other government approved documents, The Co-contractors list is to be shared.
Location: Madras Bombay Trunk Rd, Bengaluru, Karnataka, India

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