Hyderabad, March 10 (UNI) Hyderabad witnessed the highest absorption of newly-launched residential units in 2021 among India’s top seven cities while Mumbai Metropolitan Region ( MMR) and National Capital Region (NCR) witnessed the lowest absorption, according to the latest ANAROCK Research data report.
Out of the total 2.37 lakh homes sold in 2021 across the top 7 cities, more than 34 percent were newly-launched units, the report said.
Of 25,410 units sold in Hyderabad in 2021, about 55 per cent were launched in the same year while MMR of the total 76,400 units sold in last year, just 26 per cent were launched during 2021. The remaining were old projects launched before 2021, the report said.
Similarly, NCR saw the sale of 40,050 homes last year, 30 percent of which is accounted for by newly launched projects.
ANAROCK Group Chairman Anuj Puri said among other things, the increased sales share of newly-launched homes heralds the revival of investor interest. This is significant – over the last 3-4 years, investors had more or less exited the residential real estate stage and were focusing on other asset classes.
The top two markets of MMR and NCR saw the lowest absorption share of newly-launched units at 26 percent and 30 per cent, respectively. If we compare it to 2019, this share has risen in both cities in 2021 but continues to be lower than in other cities, he said.
In 2019, the sales share of newly-launched homes was lower and about 2.61 lakh homes sold in that year and he newly-launched homes accounted for about 26 percent.
In 2020, of 1.38 lakh units sold in the top 7 cities, 28 per cent were launched during the year, the report added.
