Three southern capitals wear the crown of realty launches
Bengaluru, Hyderabad and Chennai were the most robust real estate markets in India in the first half of 2018, according to a report by Anarock Property Consultants, accounting for more than a third of the total new supply in the country’s seven biggest cities. The three cities saw a collective increase of nearly 112% in new launches compared to the year ago figure. As per Anarock Property Consultants’ data, the three cities together saw new supply of more than 30,100 units, about 36% of the overall supply across the top seven cities. Of the three cities, Bengaluru and Hyderabad were the most buoyant. “Increased commercial activity backed by high demand from the IT/ITeS sectors coupled with restored consumer sentiment has given an upper edge to Bengaluru,” said Santosh Kumar, vice chairman of Anarock Property consultants. Sobha launched 2 million square feet of housing projects in the first six months of this year. In the April-June quarter, the company achieved new sales volume of 900,000 sq ft valued at Rs 762 crore with an average realisation of Rs 794 per square feet. “The overall market scenario is beginning to look better, with demand picking up across all regions and segments,” said JC Sharma, managing director, Sobha.
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