New home supply up 43 percent to 80,000 units in six cities in Jan-March: Report

New Delhi, May 2 (PTI) The supply of new homes in six major cities jumped 43 per cent on a quarter-on-quarter basis to nearly 80,000 units during January-March on improving demand for residential properties. This information was given in a report by technology-based real estate advisory company Square Yards.

Square Yards has included Hyderabad, Bengaluru, Mumbai Metropolitan Region (MMR), Pune, Noida and Gurugram in its report ‘Indian Housing Sector Review: January-March 2022’. The new home offerings in these six top cities on a quarterly basis stood at over 80,000 units during the quarter, the report said.

“The year 2022 has been a positive start, with both improved sales and new offerings,” Square Yards said.

MMR continues to top the list of new housing units offered. As per the data, MMR accounted for 35 per cent of the total new house supply. It was followed by Hyderabad with 25 per cent. Pune’s share was 17 percent, Bengaluru 16 percent, Gurugram five percent and Noida two percent.

The report said, “Post-Covid-19 pandemic, the home buying trend has largely shifted towards space requirement, health and other amenities. However, in the first quarter of 2022, the trend has been towards buying smaller units.” ‘