South Indian Cities Top Branded Housing Supply
Of the total 15,020 units launched in Bengaluru in 2020 till September, a whopping 63% is by branded developers. In Chennai too, out of the total new launches of nearly 5,250 units in the city this year, branded developers share was 63%, Thus, Bengaluru, Chennai top the branded housing supply compared to other markets such as NCR, Kolkata and Mumbai a new report by Anarock has said. In 2015, the ratio of branded vs non-branded players’ supply in Bengaluru stood at 52:48 and in Chennai it was 53:47. Approximately 2.37 lakh housing units were launched across the top 7 cities in 2019, out of which nearly 57% (over 1.35 lakh units) were by branded developers and the remaining by non-branded players. In 2020 (up to September), approximately 75,140 units have been launched, of which more than 53% are by branded developers. While the overall share in 2020 against 2019 declined marginally, the fact is that 2020 has seen a drastic reduction in the total number of overall housing units launched. When the entire 2020 supply data becomes available by the end of December 2020, the share of branded players is very likely to have increased. The main reason could be the liquidity crisis which the real estate sector has been grappling with over the last two years. Smaller players have had the short end of the stick – many of them face challenges with raising funds from banks and other financial institutions, the report said.
Tags : News/Views Developers Mumbai Bengaluru Kolkata Chennai ANAROCK South Indian Cities