After a prolonged lull of nearly 3 years, residential markets in Bengaluru, Mumbai and Delhi-NCR have showed signs of recovery in 2018. The positive impact of the regulatory reforms including the implementation of RERA and GST is now evident, said a JLL India report.
Number of residential launches across the three cities witnessed a significant on-year rise in 2018. According to JLL Research, Delhi NCR witnessed 114% year-on-year growth in new launches at 17,660 units, which is the highest among the three markets. While Bengaluru recorded annual growth of 81% at 37,286 units, Mumbai’s housing market saw a 22% rise in launches.
While new launches across these 3 key metros recorded strong growth, positive consumer sentiment in the post-reforms regime has resulted in higher sales. In percentage terms, Delhi-NCR topped with 71% on-year growth in sales at 24,725 units. However, the jump in sales was due to low base effect.
Housing launches see significant jump in Bengaluru, Mumbai and Delhi NCR in 2018: Report
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