New launches record 68 pc rise in top six cities in Q3, 2021

A latest report by Square Yards, tilted ‘India Residential Overview: Jul-Sep 2021’, captures residential trends across top six cities in Q3, 2021. The cities covered in the report include MMR, Pune, Gurugram, Noida, Bengaluru and Hyderabad.

Here are the key highlights of the report:

• New project launches saw a quarterly rise of 68 pc at the pan-India level with MMR recording the highest share with 27 pc followed by Hyderabad at 23 pc and Pune at 20 per cent.
• MMR was also the most searched city with 33 pc share followed by Hyderabad at 20 pc.
• Properties in the budget bracket of Rs 30-60 lakh and Rs 60-100 lakh were the most searched by online property seekers in Q3, 2021.
• Properties sized less than 1,000 Sq. Ft. formed almost 50 pc of the online searches in Q3. However, searches for larger homes inched up by varying degree. While a quarterly rise of 7 pc was noted for the 1,000-2,000 square feet category, homes larger than 2,000 square feet recorded a rise of 5 pc in online demand in Q3 compared to the previous quarter.
• Maximum searches for ultra-luxury properties sized above 4000 Sq.Ft. were noted in Bengaluru with 31 pc share while Hyderabad was second at 26 pc.
• Southern cities of Hyderabad and Bengaluru displayed an inclination towards plotted developments with more than 50 pc inventory for the same in each city.