2.75 Lakh Ready-To-Move-In Housing Units To Be Ready By Dec 2020

Indian home buyers will be soon spoiled for choices. As per recent reports, the top seven cities will soon see the addition of 2.75 lakh new ready-to-move-in housing units over the next one year.

The new supply of ready-to-move-in homes will comprise mainly of affordable and mid-segment category homes. While over 41 percent of the housing units will be in affordable category with costs below Rs.40 lakh, a good 33 percent of the homes will be mid-segment category. 16 percent of units will be in luxury segments with price ranging from Rs. 80 lakh to Rs. 1.5 crore while 10 percent of the expected supply will be in luxury and ultra-luxury segment, Money Control reported.

Out of total 2.75 lakh units coming into the residential real estate market by December 2020, NCR will see the maximum chunk with 46 percent of units of nearly 68,070 units though latest ban of construction due to pollution might delay a few projects.

NCR will be followed by MMR with 56,760 units and Pune with 44,480 units. Bengaluru, Hyderabad and Chennai will be 37,860, 17,100 units and 10,860 units of ready supply respectively.

46 percent of new ready-to-move-in homes expected in NCR will be in affordable segment. 38 percent will be in the mid-segment and just 3 percent (2,040 units) in the luxury and ultra-luxury segments, the ANAROCK report said.

Pune falls at second spot with 60 percent of the supply of new ready-to-move-in homes falling in affordable segment while Mumbai comes at third spot.

The report also mentioned that there are currently 13.1 lakh units, launched between 2014 to the third quarter of 2019, which are in various stages of construction in the top 7 cities. Out of these, nearly 21 percent are to be delivered by 2020-end.

Some of the major projects expected to be delivered by 2020 end in NCR (as per 99 acres) are:

  • Adani Brahma Samsara
  • AIPL Joy Square
  • Signature Roselia
  • Orris Aster Court Premier
  • Vatika Seven Elements
  • Bestech Park View Altara

Major housing projects expected to be ready by December 2020 in Mumbai MMR (as per 99 acres) are

  • Shapoorji Sarova
  • Hiranandani Fortune City
  • Sunteck City Avenue I
  • Marvel Gold
  • Lodha World View

Here is more on real estate reports and trends.

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