New residential launches in Bangalore fell by 50%
According to the report by a real estate firm, the developers have become more rational in launching their projects because of the subdued demand in the real estate sector.
Bangalore saw 16, 543 units launched in 2012, compared to 32,816 in 2011, which means Bangalore has witnessed 50 percent drop. The overall new launches across eight major cities were 1,61,708 units in 2012, compared to 192,995 units in 2011. Pune, Kolkata and Mumbai have witnessed an upward real estate trend.
| Cities | Residential Launches |
| New Delhi (NCR) | 54,439 units |
| Pune | 24,127 units |
| Mumbai | 22,423 units |
| Chennai | 20,729 units |
According to a source from Cushman & Wakefield, there were many residential launches of specialist projects in the real estate sector but the activities were limited in terms of large scale developments as many developers were cautious about the end user demand market.
The residential market was disturbed by high home loan interest rates, slower growth of the economy and high inflation which had a strong impact on the end users making them more cautious and price sensitive. Moreover, real estate developers were not willing to take up projects that may fall short in interest from end users.
In Bangalore, the mid-end segment saw maximum launches (75 percent) whereas luxury units and high-end were launched more rationally. North Bangalore witnessed maximum number of unit launches because of the availability of land coupled with improved infrastructure.
Related Real Estate News:
Bangalore real estate growing high!
Real estate sales across India
2012 real estate market cautioned!
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