New Projects Surged 68% across Top Cities in Q3 2021

The latest report by Square Yards captures the residential trends across top six cities in Q3, 2021. The cities covered in the report include MMR, Pune, Gurugram, Noida, Bengaluru and Hyderabad. New project launches saw a quarterly rise of 68% at the Pan India level with MMR recording the highest share with 27% followed by Hyderabad at 23% and Pune at 20%. MMR was also the most searched city with 33% share followed by Hyderabad at 20%. Properties in the budget bracket of Rs 30-60 Lakh and Rs 60-100 Lakh were the most searched by online property seekers in Q3, 2021. Interestingly properties sized less than 1000 Sq. Ft. formed almost 50% of the online searches in Q3. However, searches for larger homes inched up by varying degree. While a quarterly rise of 7% was noted for the 1000-2000 Sq.Ft. category, homes larger than 2000 Sq.Ft. recorded a rise of 5% in online demand in Q3 compared to the previous quarter. Maximum searches for ultra-luxury properties sized above 4000 Sq.Ft. was noted in Bengaluru with 31% share while Hyderabad was second at 26%. Southern cities of Hyderabad and Bengaluru displayed an inclination towards plotted developments with more than 50% inventory for the same in each city.