Kolkata saw maximum number of housing launches in Q3 2018

Kolkata saw maximum number of housing launches in Q3 2018: Report

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With festive season round the corner, the residential real estate market of all the metro cities has shown a steep jump in the third quarter of 2018, as per a new report. The report was released by real estate consultant Anarock which shows that the Kolkata tops among all the seven cities in terms of new housing units launch.

The report includes data from the top seven metro cities which includes NCR, MMR, Chennai, Bengaluru, Pune, Kolkata, and Hyderabad. It says that all these cities saw the launch of 52,150 new units in Q3 2018.

The report also says, “Kolkata saw the launch of nearly 4,050 units. This is a significant rise of 59 percent from Q2 2018 and an increase of more than 500 percent over Q3 2017,”

It further added that housing purchases also rose by 15 percent this quarter as against Q3 2017.

Talking about other cities, Mumbai Metropolitan Region (MMR) saw the launch of approximately 19,850 units a rise of 42 percent from Q2 2018. National Capital Region (NCR) contributed with 4200 units in the new supply range.

Apart from the above, low-budget range i.e. affordable housing also continues to keep the real estate market up. This segment (below Rs 40 lakh) saw a nearly 65% increase in supply in Q3 2018 against the same period last year, the report states.

A member from Anarock further quoted that the festive season will also boost up the realty sector as many prospective buyers are looking to invest in properties within next one year.